1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Hitman42 [59]
3 years ago
13

No More Pencils, Inc., disburses checks every two weeks that average $87,000 and take six days to clear. How much interest can t

he company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.011 percent per day for these six days? Ignore the effects of compounding interest
Business
1 answer:
DerKrebs [107]3 years ago
4 0

Answer:

Interest $1,492.92

Explanation:

The company interest will be the amount of the checks multiplied by the number of days it will delay payment then multiply by the number of weeks that checks will be disbursed times the daily interest rate.

Interest = $87,000(6)(52 / 2)(.00011)

Interest =$522,000×26×0.00011

Interest = $1,492.92

Therefore $1,492.92 is the amount of interest that the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.011 percent per day for these six days.

You might be interested in
Which of the following best describes a supply chain? *
Virty [35]

Answer:

D. an interrelated set of functions that provide the goods and services which will be sold to customers is the correct answer.

Explanation:

4 0
3 years ago
The following is the sales budget for Coore, Inc., for the first quarter of 2019: JanuaryFebruaryMarch Sales budget$135,000$152,
ivann1987 [24]

Answer: See explanation

Explanation:

a. . Compute the sales for November.

This will be:

= ($96,000 - $78,800) / 10%

= $17200 / 10%

= $17200/0.1

= $172,000

b. Compute the sales for December.

This will be:

= $78800 / (10% + 30%)

= $78800 / 40%

= $78800 / 0.4

= $197000

c. Compute the cash collections from sales for each month from January through March.

January cash collection:

= ($172000 × 10%) + ($197000 × 30%) + ($135000 × 60%)

= $17200 + $59100 + $81000

= $157300

February cash collection:

= ($197000 × 10%) + ($135000 × 30%) + ($152000 × 60%)

= $19700 + $40500 + $91200

= $151400

March cash collection:

= ($135000 × 10%) + ($152000 × 30%) + ($167000 × 60%)

= $13500 + $45600 + $100200

= $159300

8 0
3 years ago
Quaker State Wings has 320,000 shares outstanding and net income of $980,000. The company stock is currently selling for $62.97
ELEN [110]

Answer:

The new EPS is $ 3.16  

Explanation:

In order to compute the earnings per share after the share repurchase the shares repurchased must deducted from the weighted average number of share of 320,000 before repurchase so as  to arrive at the number of shares eligible for the earnings after such repurchase.

The number of shares repurchased=$634,000/$62.97

                                                           = 10,068.29  

The average weighted number of shares after repurchase is  309,931.71  (320,000-10,068.29)

EPS after repurchase=$980,000/309,931.71

                                   =$3.16 per share

5 0
4 years ago
The corporate charter of Pharaoh Tent Co. authorized the issuance of 6 million, $1 par common shares. During 2018, its first yea
gladu [14]

Answer:

$61 million

Explanation:

Additional paid-in capital credited on Feb 4 = Number of shares sold × (Share selling price - Share par value) = 4 million × ($15 - $1) = $56 million

Worth of shares debited on October 12 = Number of shares retired × (Share original selling price - Share par value) = 1 million × ($15 - $1) = $14 million

Additional paid-in capital credited on December 30 = Number of shares sold × (Share selling price - Share par value) = 1 million × ($20 - $1) = $19 million

Net additional paid-in capital = $56 million - $14 million + $19 million = $61 million

5 0
3 years ago
Read 2 more answers
The first step in the human resources planning process is to: a. assess future labor demand. b. prepare a forecast of human reso
Vikki [24]

Answer:

The first step in the human resources planning process is to assess future labor demand.

Explanation:

This gives room for the organization to know their strength and asses their supply for current needs and future purposes

4 0
3 years ago
Other questions:
  • Monica, a new student at Valley High School, becomes friends with a group of teenagers who use marijuana and remain seated durin
    11·1 answer
  • What are five private agencies that protect consumer rights
    10·1 answer
  • A company has $ 235 comma 000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The
    13·1 answer
  • Oregon, there are several Italian restaurants, each offering slightly different items prepared in slightly different ways. It is
    5·1 answer
  • The HIM director hired an HIM data integrity analyst. This is a new position with a newly created job description. The director
    6·1 answer
  • The most difficult aspect of coordinating a complex project is: a. determining appropriate costs and budget allocations for grou
    11·1 answer
  • The oversupply of hospitals and in-patient beds in the U.S. produced by the Hill-Burton legislation is the result of: A. The adv
    13·1 answer
  • Like many characters created for commercials, the Chihuahua in the Taco Bell commercials has appeared on T-shirts, caps, cups, a
    12·2 answers
  • Barnes Company reports the following operating results for the month of August: sales $300,000 (units 5,000); variable costs $21
    13·1 answer
  • yyyytttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttyutttttyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyytyyttt
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!