Answer:
d. is a written promise to pay a specified amount of money at a certain date.
Explanation:
A promissory note, also known as note payable, is a financial instrument used when you borrow or loan money, it establishes the terms and details of the agreement (amounts, interests, late fee, <em>maturity date,</em> etc.). <em>It consists of a written promise where the issuer promises to fulfill the terms and to pay to the payee on the determined date.</em>
I hope you find this information useufl and interesting! Good luck!
Answer:
It will take 8 years and 113 days.
Explanation:
Giving the following information:
How many years will it take for an initial investment of $50,000 to grow to $75,000.
We need to use a variation of the future value formula:
FV= PV*(1+i)^n
Isolation n:
n=[ln(FV/PV)]/ln(1+r)
n= [ln(75000/50,000)] / ln(1.05)= 8.31
To be more accurate:
0.31*365= 113
It will take 8 years and 113 days.
Answer:
Harry is a proper holder of the instrument
Explanation:
Impostor rule is the legal principle which states that an imposter endorsement of a negotiable instrument is not a forgery. The loss falls on the drawer of cheque and not on the third party or the bank that clears it. Art and Harry acted in good faith for the consideration. Hence, Harry is a proper holder of the instrument as any person in its possession is its holder.
Answer:
Debit Credit
Bank/Cash $200,000
Bonds payable $200,000
Explanation:
The journal entry which shall be recorded by Meister Company in its accounts in respect of bonds issued by it, on January 1, 20X1, is mentioned below:
Debit Credit
Bank/Cash $200,000
Bonds payable $200,000
Answer:
5.01%
Explanation:
The bond nominal yield to call is 5.01%
