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
Pachacha [2.7K]
3 years ago
6

On July 1, Lee Co. sold goods in exchange for a $200,000 8-month noninterest-bearing note receivable. At the time of the sale, t

he note’s market rate of interest was 12%. What amount did Lee receive when the note was discounted at a bank at 10% on September 1?
Business
1 answer:
evablogger [386]3 years ago
5 0

Answer:

$190,000

Explanation:

Given:

Loan amount = $20000

Month Remain = [ 8 month  - 2 month ( July - august) non interest bearing] = 6 month

Discount rate = 10%

Calculation of value discounted = Loan amount x Discount Rate x month remain

= $200,000 x 10% x 6/12

= Discounted Amount = $10000

After discount rate = loan amount - discounted amount

= $200,000 - $10,000

After Discount Rate= $190,000

You might be interested in
AYO BRAINLY
kvv77 [185]

True. I would say they have a central message. Effective presentations are: Colorful and exciting Created for a specific audience Have many messages Have a central message Are influence by a setting

5 0
3 years ago
During March, the production department of a process operations system completed and transferred to finished goods 20,000 units
Tju [1.3M]

Answer:

$2.18 per unit

Explanation:

The computation of the direct material cost per equivalent units is shown below:

As we know that

Direct Material cost per equivalent unit is

= Direct material cost ÷ equivalent units

where,

Direct material cost is

= $253,500 + $93,700

= $347,200

And, the number of equivalent units is

Equivalent units of production = Units processed + closing work-in-progress  

= [(20,000 + 100,000) × 100%] + (39,000 × 100%)

= 120,000 + 39,000

= 159,000

Now the cost per equivalent unitis

= $347,200 ÷ 159,200

= $2.18 per unit

7 0
3 years ago
Sarah opened her last month's bank statement, today, to find she had an ending bank balance according to First Bank of Broad Rip
Vanyuwa [196]

Answer:

the reconciliated bank statement will be for 2,679.45

Explanation:

bank balance         3,481.55

deposit in transit         12.90

outstanding checks (815)

adjusted bank        2,679.45

account balance   2,715.83

services change           1.02

fees                           (37,40)

adjusted account   2679,45

4 0
3 years ago
The following amounts were taken from the financial statements of Ando Company: 2017 2016 Total assets $800,000 $1,000,000 Net s
aleksandr82 [10.1K]

Answer:

35 times

Explanation:

The price-earnings ratio is the financial ratio that compares the market price of a share with its earnings in order to determine whether the share gives earnings that makes it a good buy.

Price-earnings ratio=market price per share/earnings per share

market price per share for 2017 is $42

earnings per share=net income-dividends/average common stock outstanding

net income is $108,000

dividends is nil

average number of common stock is 90,000

earnings per share=$108,000-$0/90,000=$1.2

price earnings ratio=$42/$1.2=35 times

6 0
3 years ago
Control limits come from :__________
vovikov84 [41]

Answer:

e

Explanation:

6 0
2 years ago
Other questions:
  • Manufacturer A has a profit margin of 2.2%, an asset turnover of 1.7 and an equity multiplier of 5.0. Manufacturer B has a profi
    15·1 answer
  • What is the primary benefit for people and nations that engage in trade?
    5·1 answer
  • The decision to take less salary in a year when the company was less profitable and employees' pay was cut is an example of Nish
    11·1 answer
  • Sitz Company makes chairs. The budgeted selling price is​ $55 per​ chair, the variable rate is​ $25 per chair and budgeted fixed
    9·1 answer
  • Were the results different between the financial analysis (Question 1) and the weighted scoring model (Question 2) approach? If
    5·1 answer
  • When commercial banks need more Federal Reserve Notes, Question 16 options: they call the Bureau of Engraving and Printing, whic
    11·1 answer
  • Explain the difference between a board meeting, a committee meeting and a staff meeting​
    6·1 answer
  • Why is it important to keep a record of
    5·1 answer
  • When corn prices soared, hog farmers used less corn to feed their pigs. The hog farmers showed a decrease in their:
    11·1 answer
  • A stock transfer is used to move 400 t-shirts from Plant A to Plant B in the same company code. What is the change in value of i
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!