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MrMuchimi
3 years ago
11

On December 31, Year 1, Jet Co. received two $10,000 notes receivable from customers in exchange for services rendered. On both

notes, interest is calculated on the outstanding principal balance at the annual rate of 3% and payable at maturity. The note from Hart Corp., made under customary trade terms, is due in nine months and the note from Maxx, Inc. is due in five years. The market interest rate for similar notes on December 31, Year 1 was 8%. The compound interest factors to convert future values into present values at 8% follow:
Business
1 answer:
Rama09 [41]3 years ago
4 0

Answer:

Hart's note should be reported at $10,000 and Maxx's note should be reported at $7,820

Explanation:

Since Hart's note is a current note (due within one year) it should be reported at future value = $10,000

Marxx's note must be reported at present value:

present value =  future value x discount factor = {$10,000 [1 + (3% x 5)]} x 0.68

present value = $11,500 x 0.68 = $7,820

*we use simple interest to calculate the future value of Marxx's debt since Jet Co. doesn't charge compound interest

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A small foundry agrees to pay $420,000 three years from now to a supplier for a given amount of coking coal. The foundry plans t
galina1969 [7]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Future Value= $420,000

Number of periods (n)= 4*3= 12 quarters

Interest rate (i)= 0.085/4= 0.0213

<u>To calculate the quarterly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (420,000*0.0213) / [(1.0213^12) - 1]

A= $31,086.79

6 0
3 years ago
The Southside Corporation budgeted 4,400 pounds of direct materials to make 2,600 units of product. The company actually used 4,
garik1379 [7]

Answer:

$3.75

Explanation:

As we already know that

Direct materials quantity variance = (Budged pounds of direct material  - Actual pounds of direct material) × Standard rate

$1,500 unfavorable  = (4,400 pounds - 4,800 pounds) × Standard rate

$1,500 unfavorable  = 400 × Standard rate

So, standard rate is

= $1,500 ÷ $400

= $3.75

We simply applied the above formula

5 0
3 years ago
Read 2 more answers
a variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as an
irina1246 [14]

A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a broker-dealer. This is further explained below.

<h3>What is a broker-dealer?</h3>

Generally, a member of the Stock Exchange who performs the duties of both a broker and a jobber.

In conclusion, An individual who wishes to sell variable life insurance must first get a license and then be designated as a life and variable contract agent in addition to being a broker-dealer.

Read more about broker-dealer

brainly.com/question/14330803

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7 0
1 year ago
As the president of a local trade company, Kristin is faced with leadership, ethical, and operational decisions on a daily basis
NISA [10]

Answer:

B. Information Management

Explanation:

According to Wikipedia, Information management is the collection and management of information from one or more sources and the distribution of that information to one or more audiences.

It is involves collecting, storing and managing information gotten in all its forms. Of course, there are various forms of information, whether physical or electronical or otherwise.

Kristen's Job in the company involves organizing resources info (collecting), regulating how they are used and making sure they are the necessary information needed by the company's workers which is all part of the information management process.

4 0
3 years ago
In the 2-factor, 2-good Heckscher-Ohlin model, the country with a relative abundance of ________ will have a production possibil
Nat2105 [25]

Answer:

The answer to this question is  (c) Labour, Labour intensive

In the 2-factor, 2-good Heckscher-Ohlin model, the country with a relative abundance of labour will have a production possibility frontier that is biased toward production of the labour intensive good

Explanation:

The Heckscher-Ohlin model is an economic theory that proposes that countries export what they can most efficiently and plentifully produce.  

The model emphasizes the export of goods requiring factors of production that a country has in abundance. It also emphasizes the import of goods that a nation cannot produce as efficiently. It takes the position that countries should ideally export materials and resources of which they have an excess, while proportionately importing those resources they need.

Therefore in regard to the question above,

In the 2-factor, 2-good Heckscher-Ohlin model, the country with a relative abundance of labour will have a production possibility frontier that is biased toward production of the labour intensive good  

Hence the answer is the third option, Labour, Labour intensive

5 0
3 years ago
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