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IrinaVladis [17]
3 years ago
15

On July 1, a bank loaned $10,000 to a company in the form of a note receivable. The note requires interest at an annual rate of

10%, and all interest is payable (due) at maturity. The amount of interest revenue that the bank should accrue at the end of December is:________.
Business
1 answer:
aleksklad [387]3 years ago
7 0

Answer:

$500

Explanation:

Given that,

Value of note receivable = $10,000

Annual interest rate = 10% (all interest is payable (due) at maturity)

Time period:

The amount of interest accrued will be from July 1st to December 31st. Hence, the interest is calculated for the 6 months.

Therefore, the amount of interest revenue that the bank should accrue at the end of December is as follows:

= Principal value of note × Interest rate × Time period

= $10,000 × 10% × (6/12)

= $10,000 × 0.1 × 0.5

= $500

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NARA [144]
To annotate something is to look over. You need to re-check your mail before you send it off. Make sure the address is right. Make sure everything on there is correct before you send it off. The people that deliver the mail need to make sure they are giving the right person the right mail.<span />
3 0
3 years ago
a company has net sales of $126,000, cost of goods sold of $72,000, operating expenses of $38,000, and other expenses of $3,000.
earnstyle [38]

Answer:

$13,000

Explanation:

Net income= net sales -net expenditure

in this case:

net sales=$126,000

net expenses =  $113,000 {COGS + operating exp.+other exp.}

Net income= $126,000-$113,000

                    =$13,000

3 0
3 years ago
Pauley Company needs to determine a markup for a new product. Pauley expects to sell 22,000 units and wants a target profit of $
Sever21 [200]

Answer:

variable markup % = 60%

Explanation:

total units sold 22,000

total costs associated with selling the 22,000 units:

variable production costs $18 x 22,000 = $396,000

variable S&A costs $13 x 22,000 = $286,000

fixed overhead = $20,500

fixed S&A = $36,700

total costs = $739,200

total cost per unit = $33.60

selling price = $33.60 + $16 = $49.60

markup percentage = [(sales price - unit cost) / unit cost] x 100

the total markup % = [49.60 - 33.60) / 33.60] x 100 = 47.62%

but since we are going to calculate the markup percentage solely based on variable costs, then:

variable cost per unit = $31

selling price = $49.60

the variable markup % = [49.60 - 31) / 31] x 100 = 60%

8 0
3 years ago
A firm that uses ___________ segmentation divides a market into groups based on life stage, race, or profession.
Triss [41]

Answer:

Demographic

Explanation:

Demographic segmentation is often used in marketing to group customers according to demographic factors. The demographic factors include- age, gender, occupation, race, religion and income.

Other forms of segmentation includes :

1. Behavioural segmentation

2. Geographic segmentation

3. Psychographic segmentation

I hope my answer helps you

7 0
3 years ago
The intent of the offeror to extend an offer to the offeree is generally determined by reference to
MArishka [77]

Answer:

The words and conduct of the offeror.

Explanation:

3 0
2 years ago
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