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Vesna [10]
3 years ago
7

Check My Work Dressed to a Tee received a promissory note of $8,000 for 10 months at 6% simple interest from one of its customer

s. After 5 months, the note was discounted at Grove Isle Bank at a discount rate of 8%. What are the proceeds Dressed to a Tee will receive from the discounted note
Business
1 answer:
nikklg [1K]3 years ago
5 0

Answer:

$8,120

Explanation:

<em>To calculate the proceeds, the gross proceed  less the discount charged by the bank. The gross proceed is the total amount that would have been received should the note is held to maturity.</em>

Gross proceed= P + (P×R×T)

P- 8,000 R- 6%, T- 10/12

Gross proceed = (8,000 + 8,000× 6%× 10/12)

                         = $8,400

Discount charges = Gross proceed × discount rate × time to maturity

Time to maturity = 10 - 5 = 5 months

Discount rate - 8%, Time- 5/12

Discount charges =  8400× 5/12× 8% = $280

Proceeds to be received = $8,400 - $280

                 = $8,120

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Ann Chovies, owner of the Perfect Pasta Pizza Parlor, uses 20 pounds of pepperoni each day in preparing pizzas. Order costs for
coldgirl [10]

Answer:

Option (A) is correct.

Explanation:

Given that,

Order costs for pepperoni = $10.00 per order

Carrying costs = 4 cents per pound per day

Lead time for each order = 3 days

Pepperoni itself costs = $3.00 per pound

Total Order = 80 pounds of pepperoni

Demand rate = 20

Total ordering cost = Total order × cost per order

                                = 80 × $10

                                = $800

Length of an order cycle:

=\frac{Order\ quantity}{Demand\ rate}

=\frac{80}{20}

= 4 days

3 0
3 years ago
At the end of 2021, Worthy Co.’s balance for Accounts Receivable is $11,000, while the company’s total assets equal $1,410,000.
erastovalidia [21]

Answer:Worthy journal $

Date

March 14, 2022

Bad debt Dr 2600

Receivable Cr 2600

Narration. Record of receivables written off to income account on account becoming unrecoverable.

Explanation:

The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.

In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.

6 0
2 years ago
Which of these is an example of a good with elastic supply?
DerKrebs [107]

Answer:

sandwiches

Explanation:

supplier has plenty of spare capacity to increase output

high stocks levels are available to meet raising demand

short production time frame to get products to market

easy of factor substitution is high

8 0
3 years ago
Read 2 more answers
Craig would like to view a graphical representation of his project's work packages in a timeline bar chart format. Craig should
Nimfa-mama [501]

Answer:

a. Gantt chart.

Explanation:

Gantt chart is a horizontal bar graph, which represent the project planning and its progress report. It help to reduce lot of time and effort invested in planning projects. It also helpful in tracking status of project, milestones, production time, scheduling projects and project management. It was invented by Henry gantt, the graph was named after him.

5 0
3 years ago
Emily jones, a junior design artist with a studio called eye for design, was known to be very good at her job. she had a lot of
Thepotemich [5.8K]

Answer:

Lack of growth

Explanation:

Emily jones, a junior design artist with a studio called eye for design, was known to be very good at her job. she had a lot of experience from working on numerous projects and she often mentored new employees successfully. she was paid well and her colleagues and peers, some of whom emily knew for four years, appreciated her helpful and lively nature. it came as a surprise to everyone when emily resigned after the recent round of annual appraisals. during her exit interview, emily said that the only reason that she was taking this move was because she had a strong feeling that she was stagnant in her career. her reason for leaving is the lack of growth in her job in this company.

A strong feeling of being stagnant is normally a sign that the growth process has been truncated., because Emily didnt seem to be learning anything new

3 0
3 years ago
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