<span>This is a cashier's cheque. Cheque is an order to a bank to pay a particular amount from the account of an account holder. It is a printed matter. Cashier's cheque is a form of cheque which is guaranteed by the bank. It is drawn on the bank's account and signed by the cashier. It is done for real estate and brokerage transactions.</span>
Answer:
Option 4- Interest on Interest
Explanation:
Look we earned $8 in the first year which we invested in the same business. Okay now we again earned 8% on this $100 and $8 invested in the second year. The 8% on the $8 is $0.64 which is the interest earned on the interest invested in the previous year.
Answer:A product that is not an object or something that is owned is called a non-economic good.
Explanation:
A product that is not an object or something that is owned is called a non-economic good.
Answer:
$807,992
Explanation:
issue $902,000 with a 6% semiannual coupon and 10 year maturity. coupon payment = $27,060
if the annual market interest rate = 7.5%, the bonds should be sold at a discount:
issue price = present value of face value + present value of interest payments
- present value of face value = $902,000 / (1 + 3.75%)²⁰ = $431,961
- present value of annuity = $27,060 x {1 - [1 / (1 + 3.75%)²⁰]} / 3.75% = $376,031
issue price = $431,961 + $376,031 = $807,992
the journal entry should be:
Dr Cash 807,992
Dr Discount on bonds payable 94,008
Cr Bonds payable 902,000
Answer:
C. NTB's have increased and tariffs have decreased in importance and use
Explanation:
