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
Airida [17]
3 years ago
10

On Oct. 14, Sheffield Company discounted at Sunshine Bank a $9,000 (maturity value), 113-day note dated July 13. Sunshine’s disc

ount rate was 11%.
Required:
What proceeds did Sheffield Company receive?
Business
1 answer:
snow_lady [41]3 years ago
7 0

Answer: $8,945

Explanation:

Number of days that have passed since Note was issued is;

18 days in July

31 days in August

30 Days in September, and

14 days in October

= 18 + 31 + 30 + 14

= 93 days

93 days have already elapsed out of the 113 so days left is;

= 113 - 93

= 20 days

Assuming a 360 day Calender, Sheffield Company will receive;

= Maturity level - Discount Amount

= 9,000 - (9,000 * 11% * 20/360)

= 9,000 - 55

= $8,945

Sheffield would will get $8,945 of proceeds to represent that 20 days are still left of the note till it matures and so need to be discounted from the maturity value.

You might be interested in
Define Industrial Capitalism?
Korolek [52]

Answer:

Industrial capitalism is a system both social and economic whereby industry and resources are owned by few for profit.

Explanation:

In order to understand the term industrial capitalism, the term capitalism must first be understood.

Capitalism is an economic and political system in which a country's trade and <u>industry are controlled by private owners</u> for profit, rather than by the state.

Hence, Any society is capitalist if the means of production that is tools and materials belongs to the employer and not the employees and the employees produce commodities belonging to their employer. Otherwise, it would be socialism.

Industrial capitalism is therefore a system, both social and economic whereby <u>industry and resources are owned by few</u> for profit.

3 0
4 years ago
For each of the items listed below, state whether they increase or decrease the balance in cumulative translation adjustments (a
Gre4nikov [31]

Answer:

Option B. Increase in Net Income and decrease in Dividends

Explanation:

The weakening position of the US dollar will make US products cheaper in the international market and thus would increase the exports of the product of the company. This will increase the net income of the company. Thus after cumulative translation adjustment what we have is increased net income.

Similarly as dividend declared would be in US dollars, when preparing a translated financial statement, the dividend declared would decrease its value as the foreign currency has strengthening position.

6 0
4 years ago
which is the best option for someone who wants to improve his or her credit and pay less interest on the debt?
Natasha2012 [34]

Buy from a reputable website is the best option for someone who wants to improve his or her credit and pay less interest on the debt.

Great content, regular updates, intuitive design, user-friendliness, and, ideally, a high visitor-to-customer conversion rate are all characteristics of an excellent reputable website. However, since they lack the necessary skills, many firms find it difficult to create and maintain an effective website.

The products come from well-known, blue-chip pharmaceutical companies. Hotel Receptionist A highly reputable company on the outskirts of Exeter needs a Hotel Receptionist. They have a very renowned service and a very well-established business.

Learn more about reputable company here

brainly.com/question/25689052

#SPJ4

8 0
2 years ago
Melanie is very concerned with avoiding late fees. The table shows her choices for paying her bills. Method Bill Payment Methods
sp2606 [1]
<span>The answer is 3 Set up automatic payments. Automatic payments can be done through direct access to ATM that receives the salary or bank account. This can help people like Melanie to avoid having trouble with late payments that would incur penalties. Paying by check would not be a good option because you should make sure there is enough money to pay for that purchase if not there could be more trouble. Paying through phone or online payments are sometimes delayed before it reaches the concerned company. 

</span>
3 0
4 years ago
Read 2 more answers
On January 1, 2019, Sandhill Corporation acquired machinery at a cost of $1290000. Sandhill adopted the double-declining balance
alexgriva [62]

Answer:

$94,354.29

Explanation:

Depreciation rate = 100/10*2 = 20%

2019 Depreciation = 1290000 * 20% = $258000

2020 Depreciation = 1290000 * 80% * 20% = $206400

2021 Depreciation = 1290000 * 80% * 80% * 20% = $165120

Accumulated depreciation (2019 to 2021) = $258000 + $206400 + $165120 = $629,520

Depreciation expense for 2022 = (1290000 - 629,520) / 7

Depreciation expense for 2022 = 660480 / 7

Depreciation expense for 2022 = $94,354.29

6 0
3 years ago
Other questions:
  • Project management boils down to asking which questions?
    12·1 answer
  • What are the primary business benefits of an ERP system? Multiple Choice
    7·1 answer
  • A company receives an order of 10,000 units of product. The potential customer is willing to pay $0.75 per unit. Current sales a
    12·2 answers
  • Can you guys make me instagram famous? plz i need help
    6·2 answers
  • Peter Simmons owns a specialized computer software company. Although Peter's software designers and programmers are very good, i
    12·2 answers
  • What is a credit​ spread? A. The difference between the net worth of a borrower and the amount of the loan the borrower would li
    5·1 answer
  • Friendly’s Quick Loans, Inc., offers you "three for four or I knock on your door." This means you get $3 today and repay $4 when
    14·1 answer
  • TriStar Company, a small biotechnology firm, has borrowed $250,000 to purchase laboratory equipment for gene splicing. The loan
    9·1 answer
  • Florissa's Flowers jointly produces three varieties of flowers in the same garden: tulips, lilies, and daisies. The flowers are
    15·1 answer
  • Suppose the government decides that every family should own its own home. To bring this about, the government decides to subsidi
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!