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
Vsevolod [243]
3 years ago
8

A firm is offered trade credit terms of 2/8, net 45 days. The firm does not take the discount. It pays after 58 days. What is th

e effective annual cost (EFF%) of not taking this discount
Business
1 answer:
Alisiya [41]3 years ago
4 0

Answer: 15.89%

Explanation:

Since no discounts were taken, this company made your job a whole lot easier because if we are for instance assuming a 365 day year then you simply take the base period of payments which is 58 days in this scenario and divide by 365.

So it would come out like,

= 58/365

= 15.89%

If you need any clarification just drop a comment. Cheers.

You might be interested in
Khfhggjjv,gkjbmmjhbb.l
loris [4]

Answer: um i need you to ask the question so we can answer it

Explanation:

5 0
3 years ago
A corporation sold 1,000 shares of its $2.00 par value common stock for $10.00 per share and later repurchased 100 of those shar
boyakko [2]

Answer:

Option B. Treasury Stock for $1,200

Explanation:

The reason is that when 1,000 shares which has $2 par value and were issued at $10 per share, the journal entry was:

Dr Cash Account $10,000

Cr       Common Stock $2,000

Cr       Paid In Capital   $8,000

But when 100 shares were repurchased at $12 per share, then the accounting treatment would be

Dr Treasury Stock $1,200

Cr         Cash Account $1,200

So the correct option is option B.

5 0
3 years ago
If you could invent something what would it be
gogolik [260]
Teleporting machine. ...
Cooling beds and pillows in warm nights. ...
Snooze button for kids. ...
Instant cooling machine. ...
Locator for missing things. ...
Robot house help. ...
Dream store. ...
5 0
3 years ago
A proposed new investment has projected sales of $585,000. Variable costs are 44 percent of sales, and fixed costs are $187,000;
Tema [17]

Answer:

The projected Net Income is $70,784

Explanation:

The Pro- forma income Statement

Working Note:

Variable cost = Sales × 44%

= $585,000 × 44%

= $257,400

EBT (Earnings before Tax) = Sales - Variable cost - fixed cost - depreciation

= $585,000 - $257,400 - $187,000 - $51,000

= $89,600

Net Income = EBT × Tax rate

= $89,600 × 21%

= $70,784

8 0
3 years ago
Scholarships, grants and work-study money all reduce the _____ of higher education.
Allushta [10]
I think the answer is A but i could be wrong
6 0
2 years ago
Other questions:
  • Video Planet (“VP”) sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installatio
    12·1 answer
  • When is liability insurance needed?​
    10·1 answer
  • The importance of management is based upon what
    7·1 answer
  • Issued a note with the proceeds used to finance the cost of acquiring journal entry
    13·1 answer
  • Fiola is undergoing a special training session to understand the theory of relativity. Mark, Fiola's tutor, conducts the trainin
    6·1 answer
  • The depreciation method that allocates an equal portion of the total depreciable cost for a plant asset to each unit produced is
    12·1 answer
  • Paladin Furnishings generated $2 million in sales during 2016, and its year-end total assets were $1.7 million. Also, at year-en
    15·1 answer
  • The company can manufacture either two food processors per machine hour or three espresso machines per machine hour. The​ compan
    15·1 answer
  • *Improper Answers = BAN*
    6·1 answer
  • Your buyers love the 1891 victorian they have under contract, but they want to get both the water and the paint tested as soon a
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!