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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:

A joint venture (JV) is not a partnership. That term is reserved for a single business entity that is formed by two or more people. Joint ventures join two or more different entities into a new one, which may or may not be a partnership.

Hope it helps

7 0
2 years ago
The economic term for the want-satisfying ability, or value, that organizations add to goods or services is
Lana71 [14]

The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

<h3>What is utility?</h3>

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Learn more about utility here : brainly.com/question/24848038

4 0
2 years ago
When automakers offer special price reductions on all their automobiles during holiday shopping seasons, they are using the ____
ICE Princess25 [194]
Discount pricing strategy
7 0
2 years ago
How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement​ account?
Ivahew [28]
It all dependes on the money you make and how big the payments are. as you can say you waited tell the day you where going to retire but you but 10,000 dollars in your saving every hour by the end of the day youd have 240,000 dollars in your retirement account.
4 0
3 years ago
Peng Company is considering an investment expected to generate an average net income after taxes of $3,300 for three years.
nikdorinn [45]

Answer:

3482.12

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow = net income + depreciation = 16,200 + 3300 = 35,700

($56,100 - $7500) / 3 = 16,200

Cash flow in year 0 = 56,100

cash flow in year 1 and 2 = 35700

cash flow in year 3 = 35,700 + 7500

i = 5%

NPV =

3 0
3 years ago
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