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4 years ago

9

If we place $8,592.00 in a savings account paying 7.5 percent interest compounded annually, how much will your account accrue to

in 9.5 years

1 answer:

frez [133]4 years ago

6 0

Fv=8,592×(1+0.075)^(9.5)=17,079.48

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x-co issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to reco

gizmo_the_mogwai [7]

If the company issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to record this event includes: is: Debit Cash $100,000 ; Credit to Preferred Stock $100,000.

<h3>How to prepare the journal entry?</h3>

Based on the given information we were told that the company issued 1,000 shares in which the cumulative preferred stock is the amount $100 cash per share. The appropriate journal entry to record the transaction is:

Journal entry

Debit Cash $100,000

Credit to Preferred Stock $100,000

( To record preferred stock)

Workings:

Preferred stock = 1,000 shares × $100 cash per shares

Preferred stock = $1000,000

Therefore the correct journal entry to record the transaction is to debit cash with the amount of $100,000 and credit Preferred stock with the amount of $100,000.

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1 year ago

Tyreek pitches four investors. They agree to each invest $25,000 and value Tyreek's company at 200,000. How much of the company

kifflom [539]

Answer: 50%

Explanation: is the right answer

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3 years ago

Read 2 more answers

Financial risk refers to the extra risk stockholders bear as a result of the use of debt as compared with the risk they would be

Fed [463]

Answer:

A.True

Explanation:

A financial risk is the risk that could arise through borrowing. If an entity borrows money, it will have to pay the money back at some time, and will also have to pay interest. The risk is that if an entity borrows very large amounts of money, it might fail to generate enough cash from its business operations to pay the interest or repay the debt principal.

So based on the above discussion, the answer is A.True

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4 years ago

On July 1, Atlantic Cruise Lines issues a $100,000, eight-month, 7% note. Interest is payable at maturity. What is the amount of

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The answer is $3,500.

Given,

On July 1, Atlantic Cruise Lines issues a $100,000, eight-month, 7% note.

Interest is payable at maturity.

Maturity date = July 1 + 8 months = March 1

Total interest incurred on maturity = Value of the note × Interest rate × time period

= $100,000 * (0.07) (\frac{8}{12})$

= $4,666.67

Number of months as on December 31 = 6 months

Therefore, the amount of interest expense that the company would record in a year-end adjustment on December 31 is given by:

Interest expense = Total interest incurred on maturity × no. of months as on December 31

= $4,666.67 × $\frac{6}{8}$

= $3,500

Hence, the amount of interest expense that the company would record in a year-end adjusting entry on December 31 is $3,500

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2 years ago

Both Jarek and Kalene produce scarves and rings. However, Kalene is better at producing both goods. In this case, trade could :_

Rudiy27

Answer:

The answer is Benfit both kalene and jarek

Explanation:

It can help them both out in ways.

-Justin:)

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2 years ago