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faltersainse [42]
3 years ago
14

Al's obtained a discount loan of $78,500 today that requires a repayment of $98,000, 3 years from today. What is the APR

Business
2 answers:
Andrei [34K]3 years ago
8 0

Answer:

R = 8.2803%

Rounded: 8%

Explanation:

Solving our equation:

r = (1/3)(98000/78500) - 1) = 0.08280255

r = 0.08280255

Converting r (decimal) to R a percentage

R = 0.08280255 * 100

= 8.2803%

Hope this helped! :D

kondor19780726 [428]3 years ago
6 0
R= 1/3 open bracket ( 98000/98500) -1)
R=0.8280255
0.8280255 x 100

=8.82803%
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7 0
1 year ago
Quantas Industries sold $300,000 of consumer electronics during January under a one-year warranty. The cost to repair defects un
finlep [7]

Answer:

January 31.

Warranty Expense $18,000  (debit)

Warranty Provision $18,000 (credit)

June 20.

Warranty Provision $183 (debit)

Cash $183 (credit)

Explanation:

There is no option on the customer to take the warranty or not. There this type of Warranty is known as an <em>Assurance Type Warranty</em>.

Assurance type warranties are accounted in terms of the <em>Provision Standards</em> as follows ;

<u>Entry when the warranty is granted</u>

Warranty Expense $18,000  (debit)

Warranty Provision $18,000 (credit)

<em>Being recognition of warranty cost and provision. </em>

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<u>When the Warranty Claim is subsequently received.</u>

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<em>Being utilization of Provision when the warranty claim is received.</em>

3 0
3 years ago
Required information Use the following information for the Exercises below. Skip to question [The following information applies
Lyrx [107]

Answer:

Follows are the solution to this question:

Explanation:

In point A:

The estimated amount of uncollectible allowance =\$ \  635,000 \times 4 \% = \$ \ 2,540,000

In point B                                    Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts                \$ \ 2,526,700

Doubted debt allowance                          \$ \ 2,526,700 \  \   (\$ \ 2,540,000 - \$ \ 13,300)

(Bad Debts Expense recorded)  

In point C                                         Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts               \$ \ 2,553, 300

Doubted debt allowance                        \$ \ 2,553, 300     \ \ \ \ (\$ \ 2,540,000 + \$ \ 13,300)    

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5 0
3 years ago
The limited liability of a stockholder in a closely-held corporation may be challenged successfully if the stockholdera. Underca
lina2011 [118]

Answer:

The correct Option is A

Explanation:

When the limited liability of the stockholder and it is a closely held corporation which might be challenged successfully if the stockholder, undercapitalized the corporation  which means that the corporation does not have enough capital to pay creditors and conduct normal operations of the business and it will be done when it is established or formed.

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3 years ago
Almost certainly you have seen vending machines being serviced on your campus and elsewhere. On a predetermined schedule the ven
Nesterboy [21]

Answer:

Fixed Time Period Model

Explanation:

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3 0
3 years ago
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