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lilavasa [31]
3 years ago
12

Entries for Notes Payable A business issued a 60-day, 10% note for $83,000 to a creditor on account. Journalize the entries to r

ecord (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year.
Business
1 answer:
sattari [20]3 years ago
6 0

Explanation:

The journal entries are as follows

1. Account payable $81,617

Interest expense $1,383.33

              To Notes payable $83,000

(Being the issuance of the note is recorded)

The interest expense is computed below:

= $83,000 × 60 days ÷ 360 days × 10%

= $1,383.33

2. Note payable Dr $75,000

        To Cash $75,000

(Being the payment is recorded)

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Question

you are a consultant to a firm evaluating an expansion of its current business. The cash flow forecasts (in millions of dollar) for the project as follows:

Year     cashflow

0           -100

1-10            15

0n the basis of the behavior of the firm's stock, you believe that the beta of the firm is 1.30. Assuming that the rate of return available on risk-free investments is 5% and that the expected rate of return on the market portfolio is 15% what is the net present value of the project

Answer:

NPV= -$32.58

Explanation:

The net present value of the investment is the cash inflow from the investment discounted at required rate of return. The required rate of return can be determined using the the formula below:

Ke= Rf +β(Rm-Rf)  

Ke =? , Rf- 5%,, Rm-15%, β- 1.30

Ke=5% + 1.30× (15-5)=  18%

The NPV = Present value of cash inflow - initial cost

 =  A×(1-(1+r)^(-10)/r  - initial cost

A- 15, r-18%

NPV = 15× (1-1.18^(-10)/0.18 - 100= -32.58

NPV = -$32.58

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3 years ago
What is the purpose of the 1040 series of tax forms?
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It is the standard (IRS) form that individuals use to file their annual  income tax returns
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Current trends suggest that early internationalizing firms will ________. be unable to sustain the rigors of international trade
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Answer:

Continue to

Explanation:

  • Internalization is a process to increase the involvement of international markets.  
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Answer:

I do not agree that "the needs of a society conflict with the goals of the financial services industry's desire to make a profit", but on the contrary, I consider that the economic objectives of the financial system contribute to the well-being of the individuals that make up society, with which they satisfy the needs of this in an indirect way.

I believe this because the financial system, through its will to profit, creates jobs and economic opportunities for individuals, who would otherwise be forced to meet their needs without the help of a system designed to profit as a result of work done (such as communism).

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Answer:

<em>1. Airplanes. </em>

<em>2. Ice-cream plants. </em>

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<em>6. Barns.</em>

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Explanation:

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