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sineoko [7]
4 years ago
5

On January 1, year 2, Connor Corporation signed a $100,000 noninterest-bearing note due in three years at a discount rate of 10%

. Connor elects to use the fair value option for reporting its financial liabilities. On December 31, year 2, Connor's credit rating and risk factors indicated that the rate of interest applicable to its borrowings was 9%. The present value factors at 10% and 9% are presented below. PV factor 10%, 3 periods .751 PV factor 10%, 2 periods .826 PV factor 10%, 1 period .909 PV factor 9%, 3 periods .772 PV factor 9%, 2 periods .842 PV factor 9%, 1 period .917 At what amount should Connor present the note on the December 31, year 2 balance sheet?
Business
1 answer:
zaharov [31]4 years ago
7 0

Answer:

$84,200

Explanation:

The computation of the amount that should be presented the note as on Dec 31 for year 2 is shown below:

= PV factor 9%, 2 periods × non-interest bearing note amount

= 0.842 × $100,000

= $84,200

Here we considered the 9% interest rate as it is the revalued with respect to the fair value and the same is to be considered

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in three to four sentences, explain why you are willing to supply the most bicycles at the highest price.
Leni [432]
Because you can buy more bikes with the amount of money you make, hense the art of making a business also an entrepenuer
7 0
4 years ago
Franklin corporation issues $97,000, 8%, 5-year bonds on January 1, for $101,370. Interest is paid semiannually on January 1 and
Scrat [10]

Answer:

c. $3,443

Explanation:

Date     Account Titles                              Debit      Credit

Jan 1     Cash                                              101370

                  Bond payable                                          97000

                  Premium on issue of bonds                    4,370

                   (101370-97000)

Jul 1        Interest expenses (3680 - 437)  3,443

              Premium on issue on bond         437

              (4379/5 * 6/12)

                     Cash (97,000*8%*6/12)                          3,800

5 0
3 years ago
When unemployment is lower overall nationwide, this means that, in general, employees have more what?
Rus_ich [418]

Answer:

b. choices

Explanation:

Low unemployment means a big percentage of the labor force is actively engaged in income-generating activities. Adults seeking employment can easily find work. A country experiences low unemployment when the economy is growing at a high rate. Different sectors of the economy create many job opportunities when the economy is growing.

When they are many job opportunities in the market, employees have options. They can switch jobs without much struggle. Employers are compelled to compensate workers well to retain them.

3 0
3 years ago
Swifty Corporation started the year with $45600 in its Common Stock account and a credit balance in Retained Earnings of $33400.
PIT_PIT [208]

Answer:

Retained earnings balance =$54,700

Explanation:

Retained earnings is the proportion of profit made by a company which is not distributed as dividend but rather re-couped to be re-invested. A payment of dividend would reduce the balance of retained earnings while further profit retained increases it.

The balance of retained earnings at the end = opening balance + profit retained for the year - dividend paid for the year

= 33,400 + 36,500 - 15,200 = $54,700

Retained earnings balance =$54,700

6 0
3 years ago
A large computer manufacturer forbids its executives and managers from serving as directors or officers for Intel Corporation or
posledela

Answer:

Conflict of interest(COI)

Explanation:

The large computer manufacturing company is trying to prevent a conflict of interest.

Conflict of interest(COI): This occurs when an individual is occupying two different social position at the same time in which different benefits are attached to each social roles. It can disrupt the decision-making process of an individual which could lead to loss of integrity.

Conflict of interest arises when an individual has competing obligations because of their duties to more than one person or organization simultaneously.

An individual is subject to two coexisting interests that are in direct conflict with each other.

Conflict of interest can also involve an organization. It could be a case in which an individual or organization performs two different roles simultaneously, and performing an obligation could involve working against another.

A person or organization with conflict of interest can't be 'just' in their decision making.

5 0
3 years ago
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