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3 years ago

2. List at least three things you would consider when choosing a bank and account type. (1-3 sentences. 3.0 points)

1 answer:

3 0

Well that depends on the person. The three things that someone would do when considering to choose a bank is to have trust, convenience, and account features. They would have to trust the bank, and it would have to be well-known and established. Bank accounts are case-sensitive, so it takes extra time for them to further secure their account.

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On November 7, 2017, Mura Company borrows $160,000 cash by signing a 90-day, 8% note payable with a face value of $160,000. (Use

sergeinik [125]

Answer:

interst expense 1,920 debit

interest payable 1,920 credit

--to record year-end adjustment--

interest expense 1,280 debit

interest payable 1,920 debit

note payable 160,000 debit

cash 163,200 credit

--to record the honor of the note--

Explanation:

principal x rate x time = interest

principal 160,000

rate 8% annual

days from November 7th to December 31th: 54 days

160,000 x 0.08 x 54/360 = 1,920 interest expense

at maturity:

160,000 x 0.08 x 90/360 = 3,200

3,200 total interest less 1,920 accrued interest = 1,280

8 0

3 years ago

Determine the market potential for a product that has 20 million prospective buyers who purchase an average of 2 per year and pr

Gnoma [55]

4,000,000 units should be sold a company

Explanation:

Calculating the sales in units:

It has been given that the toal market demand is $20 million, average quantity purchased by buyer per year is 2 units, price average is $50, and the desired share of the market is 10%.

$Q=n * q * p$

Where:

Q = Total market demand,

N = number of buyers in the market, q = average quantity purchased by the buyer per year,

P = price of average unit

$$\mathrm{Q}=20,000,000$ buyers $* 2$ per unit per buyer $* \$ 50$ per unit$

= $2,000,000,000

Market share = $(20,000,000 \text { buyers } * 2 \text { units per buyer }) * 0.1$

= 4,000,000 units

Hence, the company should sell 4 million units to achieve 10 percent market share.

6 0

3 years ago

Crossroad chooses to report a financial asset at its fair value. The asset trades in two different markets; however, neither mar

Alex

Answer:$81

Explanation:

The options given are:

a. $76

b. $80

c. $81

d. $82

If the principal market that is, the market that the greatest volume of activity can't be identified, then the most advantageous market would be used to determine the fair value of a financial asset.

The most advantageous market is the market that has the highest net price, after transaction cost has been considered even though the transaction costs is not included into the fair value. Therefore, the second market gives the highest net price of $80 after the consideration of the transaction costs, hence, it should be utilized for fair value purposes.

The fair value amount include the transaction costs, which give $80 + $1 = $81

The fair value amount is $81.

5 0

3 years ago

At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8 percent compounded annually. (a) How

Travka [436]

Answer:

a) = $10,896.71

b) = $11,768.45

Explanation:

The question is divided into 2 parts

Part a) Amount in the account today

The formula to use is as follows:

FV of Annuity= P(1+r)∧n - 1)/r

P= Periodic Payment = $450

r= Rate of each period= 8%

n= the number of periods= 14

The account today is as follows:

FV = 450 x (1+0.08)∧14-1]/0.08

= $10,896.71

Part b) The formula to use is as follows:

FV = Future value = (1+r) * P * [ (1+r)n -1] / r

P= Periodic Payment = $450

r= Rate of each period= 8%

n= the number of periods= 14

= Fv= (1+0.08) * 450 * [ (1+0.08)^14 - 1] / 0.08

= $11,768.45

3 0

3 years ago

When a manager develops a cost of capital for a specific project based on the cost of capital for another firm that has a simila

Aneli [31]

Answer: Pure play

Explanation:

A pure play method in finance is an approach that is used to estimate and determine the cost of equity capital of a private company which involves looking at the beta coefficient of other single focused and public companies.

Pure-play companies are the companies that are involved in a single line of business.

5 0

3 years ago