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stepladder [879]
4 years ago
15

A 60-day, 9% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is A. $10,000

B. $10,150C. $10,900D. $9,100
Business
1 answer:
VikaD [51]4 years ago
7 0

Answer:

The answer is: Maturity Level= $10.150,00

Explanation:

Notes are often a key component of how a business finances its operations. For purposes of accounting, it's important to be able to calculate the maturity value of a note to know how much a business will have to pay or receive when the note comes due.

In general, notes are a form of short-term commercial financing. The maturity value is the amount of money that the company would receive when the note comes due.

To calculate the maturity value you need to use the <u>following formula:</u>

<u></u>

Maturity level= Principal + Principalx[ix(days/360)]

                         

The second term of the formula is the interest receive for the passing of time.

<u>In this exercise:</u>

<u></u>

Maturity Level= 10000 + 10000x[0,09x(60/360)]

Maturity Level= 10000 + 150 = $10150

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lara31 [8.8K]

Answer:

Explanation:

The journal entry is shown below:

Interest expense A/c Dr $3,000

           To Interest payable A/c $3,000

(Being interest is recorded)

The computation of the interest expense is shown below:

= Principal × rate of interest × number of months ÷ total number of months in a year

= $125,000 × 6% × (4 months ÷ 12 months)

= $2,500

The four-month is calculated from the September 1 to December 31

4 0
3 years ago
Financial managers should strive to maximize the current value per share of the existing stock to:__________
Svetach [21]

Financial managers should strive to maximize the current value per share of the existing stock to: maximize shareholders' wealth.

What is the overriding goal of financial management?

The main objective of financial management is to increase shareholder's wealth such that share price increases in value year-in-year-out.

The financial managers would achieve this goal by investing in projects whose net present value is positive, in other words, the NPV per share is the expected increase in value per share of existing stock.

In short, financial strategies put in place to achieve increasing share price year-in-year-out are aimed at wealth maximization

Find out more about shareholder wealth on:brainly.com/question/27893002

#SPJ1

3 0
2 years ago
If water is transparent, Why cant we see the fishes in the sea when we look at it?​
Free_Kalibri [48]

Answer:

Water has a much higher refractive index, so does the material that the animals are made of so you can really make that difference in how light moves through the materials very minimal; therefore you can't see them. Even a piece of glass underwater is very difficult to see because that glare just doesn't happen.

i did get this from g00gle so it may be considered pagerism so just try to put it in your own words

Explanation:

7 0
3 years ago
Read 2 more answers
Marcella has a $65,000 basis in her 50% partnership interest in the JM Partnership before receiving any distributions. This year
PSYCHO15rus [73]

Answer:

C) $40,000 inventory basis, $15,000 JM basis.

Explanation:

JM distributed $80,000 worth of inventory, since Marcella has a 50% partnership interest, then half of the inventory belongs to her, $40,000 (= $80,000 / 2).

Since Marcella also received $10,000 in cash from JM, then her remaining basis in the partnership is:

$65,000 - $40,000 - $10,000 = $15,000

3 0
3 years ago
Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2021 of a circuit
Brilliant_brown [7]

Answer:

1. The loss contingency should be accrued

2.$5,000,000

3. $5,000,000

4. loss- product recall $5,000,000

liability- product recall $5,000,000

Explanation:

Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2021 of a circuit flaw in an amplifier that poses a potential fire hazard. An intense investigation indicated that a product recall is virtually certain, estimated to cost the company $5.0 million. The fiscal year ends on December 31.

from the question we can deduce that:

1. This is a loss contingency and should be accrued because of the liability. The if the event will occur and the estimate is certain

2) loss: $5,000,000

3) liability: $5,000,000

4) loss- product recall $5,000,000

liability- product recall $5,000,000

a disclosure note is needed

3 0
3 years ago
Read 2 more answers
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