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nikklg [1K]
4 years ago
5

Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2021. The note, along with interest at 5%, is

due on June 30, 2022. On September 30, 2021, Ireland discounted the note at Cloverdale bank. The bank's discount rate is 9%. What amount of cash did Ireland receive from Cloverdale Bank?
Business
1 answer:
Daniel [21]4 years ago
8 0

Answer:

$ 39,165.00  

Explanation:

the amount expected from customer in one year is the face value of the note receivable plus interest i.e $40,000*105%=$42,000

The interest on discounting is :

$42,000*9%*9/12=$2,835

The amount of cash that Ireland would receive from the Cloverdale Bank is the amount that Cloverdale would on maturity of the note receivable i.e $42,000, less the discount on the note of $2,385

cash received=$42,000-$2,835=$ 39,165.00  

Cloverdale would pay $ 39,165.00  on September 2021 to Ireland Corporation

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Some industrial products are created to meet the needs of one or a small group of customers. Boeing, for example, serves a very
fgiga [73]

Answer:

a custom-designed product.

Explanation:

In this case, an airplane is a highly customized product. Each airplane is specifically built and arranged to meet the special and unique needs of its clients. For example, each airplane is painted with the colors and the logo of the airline company. The seats are also arranged depending on the specific requirements of the clients.

3 0
3 years ago
Under the basic dwelling form, when is damage caused by vandalism included as covered peril?
finlep [7]

Under the basic dwelling form, when is damage caused by vandalism included as covered peril when a premium for extended coverage is mentioned in the declaration.

<h3>What is dwelling policy ?</h3>

A dwelling policy is a substitute to a homeowners insurance. Dwelling insurance can cover more than just fire only. It is the part of homeowners insurance policy that helps pay for the rebuilding, repair of physical structure of one's home if the damage is by covered hazard. But Dwelling policy isn't for all, so it can be beneficial for: Vacation homes, Vacant homes, Rental properties, Older homes, and Seasonal homes.  

The damage caused by vandalism is covered under the basic DP-1 form when a Premium for Extended Coverage is mentioned in the Declarations. perils such as Vandalism, Hail or Windstorm, Explosion, Riots, Smoke, Vehicles, and Volcanic Eruption can be included.

Therefore Under the basic dwelling form, Damage caused by vandalism included as covered peril when a premium for extended coverage is mentioned in the declaration.

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7 0
2 years ago
What would a risk be based on the following information: Marty is 60 percent certain that he can get the facility needed for $45
snow_lady [41]

Answer:

Marty is 60 percent  sure  that he can save the project the amount of $7,000 which means that the  amount of $4,200 will tend to depict  the 60 percent certainty Amount  of the savings

Explanation:

What would the risk be based on the information given in a situation where he is 60 percent sure that he can get the facility needed for the amounts of $45,000 in which the amount is lower that the amount of $7000 that was planned for is that Marty is 60 percent  sure that he can save the project the amount of $7,000 which means that the amount of $4,200 which is simply calculated as (60%*$7,000) will tend to depict the 60 percent certainty Amount  of the savings.

5 0
4 years ago
Why labor and management might be at odds and why?
NikAS [45]
The most frequently employed technique of workers was the STRIKE. Withholding labor from management would, in theory, force the company to suffer great enough financial losses that they would agree to worker terms. Strikes have been known in America since the colonial age, but their numbers grew larger in the Gilded Age.
7 0
3 years ago
Read 2 more answers
The following information relates to Hampel Components Inc. Net Income $100,000 Preferred stock dividends $5,000 Average Common
ratelena [41]

Answer:

Return on common stockholders' equity = Net income/Shareholders equity x 100

Return on common stockholders' equity  = $100,000/$210,000 x 100

                                                                    = 47.62%

Explanation: Return on common stockholders' equity is the ratio of net income to average common stockholders' equity. Net income is $100,000 while average common stockholders' equity is $210,000. The ratio of the two gives return on common stockholders' equity.

5 0
4 years ago
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