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USPshnik [31]
3 years ago
14

Which of the following would not be used to pay for previous credit purchases under the periodic system?

Business
2 answers:
fenix001 [56]3 years ago
5 0

Answer:

Debit to Accounts payable ( A )

Explanation:

To pay for previous credit purchases made by a company it can be made by crediting the Accounts payable of the company or by converting the credit to cash payments to the company from whom the company purchased the goods.

Accounts payable is a liability account operated by a company to take care of all the credit purchase made by the company. crediting this account by the company will help offset previous credit purchases while debiting this accounts will leading to worsening the debit conditions of the company towards its suppliers hence this is a means of paying for previous credit purchases

Cerrena [4.2K]3 years ago
4 0
C. Credit to Accounts Payable
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At one time there were many farm cooperatives, but more recently other forms of business ownership have replaced them.
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Answer:

False

Explanation:

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3 years ago
What is the discount yield, bond equivalent yield, and effective annual return on a $3 million commercial paper issue that curre
aleksklad [387]

Answer:

(a) 6.206%

(b) 6.54%

(c) 6.58%

Explanation:

Given that,

Commercial paper value = $3 million

Currently selling at 97.50 percent of its face value.

Days from maturity = 145

(a) Discount yield:

= \frac{(Face\ value - Current\ price)}{Face\ value}\times\frac{360}{Days\ in\ maturity}

= \frac{(100 - 97.50)}{100}\times\frac{360}{145}

= 0.025 × 2.4827

= 0.06206 or 6.206%

(b) Bond equivalent yield:

= \frac{(Face\ value - Current\ price)}{Current\ price}\times\frac{365}{Days\ in\ maturity}

= \frac{(100 - 97.50)}{97.50}\times\frac{365}{145}

= 0.026 × 2.52

= 0.0654 or 6.54%

(c) Effective annual return:

Future value = Present value × (1+r)^{n}

$100 = $97.50 × (1+r)^{\frac{145}{365}}

(\frac{100}{97.50})^{\frac{365}{145}} = 1+r

1.0658 = 1 + r

0.0658 or 6.58% = r

6 0
2 years ago
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