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Kamila [148]
3 years ago
15

Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2011. The note, along with interest at 6%, is

due on June 30, 2012. On September 30, 2011, Ireland discounted the note at Cloverdale bank. The bank's discount rate is 10%. What amount of cash did Ireland receive from Cloverdale Bank
Business
1 answer:
Paul [167]3 years ago
5 0

Answer:

$39,220

Explanation:

The maturity value of the note receivable on June 30, 2012

= Principal + Interest

= $40,000 + $40,000 x 6%

= $40,000 + $2,400

= $ 42,400

The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011

= 12 - 3 months ( July, Aug and Sep)

= 9 months.

Amount of deduction  

= $ 42,400 x 10% x 9/12

= $ 3,180

Finally, the Cash received by Ireland will be

= Maturity value - Discount

= $42,400 - $ 3,180

= $39,220

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Answer:

On-the job training.

Explanation:

This is explained to be normal emphasized training that working staffs are seen to undergo; especially newly employed staffs, which is a direct training while doing the actual job they are been hired or paid for. A a good and reasonable trainee in this aspect is seen to be appreciative when given this chance to develop knowledge and skills without ever leaving work. In this employee training format, employees are seen to receive your workplace needs, norms, and culture and familiarize with them. Internal job training and employee development bring a special plus. This is why in the scenario above, Joel's supervisor trains him off-site on the use of firearms.

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Which financial activity helps a company based in another country?
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Answer:

The correct answer is letter "B": Risk profile; Enterprise Risk Management.

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At the beginning of 2018, England Dresses has an inventory of $140,000. However, management wants to reduce the amount of invent
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Answer:

purchases = 160000

Explanation:

given data

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amount of inventory on hand = $80,000

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solution

we first Computation of cost of goods sold  hat is

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