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3 years ago

A 60-day, 9% note for $10,000, dated may 1, is received from a customer on account. the maturity value of the note is

2 answers:

5 0

Given:
60-day, 9% note for 10,000

The maturity value is: 10,150

10,000 x 9% x 60/360 = 150 interest
10,000 + 150 = 10,150

The 9% is the annual interest on the note.
60-day is the term of the note.
The note will mature at the end of July or on August 1st.

bezimeni [28]3 years ago

3 0

Answer:

Maturity value of note is $10,150.

Explanation:

9% note worth $10,000 with maturity period of 60 days is received from a customer. Value of note received at its maturity is principal amount of $10,000 plus interest amount. Interest amount is calculated as shown below:

Interest rate = 9% or 0.09

Principal amount = $10,000

Time period = 60/360

$Interest\ amount=Principal\ amount\times interest\ rate\times time\ period$

$Interest\ amount=$10,000\times 0.09\times\frac{60}{360}$

= $150

Total value of note at maturity is = Principal amount + interest

= $10,000 + $150

= $10,150

Further explanation:

Notes receivable is a promissory note that is made by a payee as a promise to pay in future. This includes principal amount and interest. Notes come with an interest rate and maturity date which could be in days or months. Amount is received on the maturity date. At the time of receipt of notes receivable, the company debits notes receivable at face value.

An example of notes receivable is 30 days 5% notes receivable of $8,000. This means that this note has principal amount of $8,000 with interest of 5% payable after 1 month or 30 days. It is reported in the balance sheet as a current asset if it has a maturity of less than a year.

Learn more:

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Keywords: Notes receivables, interest on note, notes receivable at maturity, promissory note, payee.

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Given the following data for Harder Company, compute cost of goods manufactured:

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Answer: Cost of goods manufactured = $520000

Explanation:

Given that,

Direct materials used = $120,000

Beginning work in process = $20,000

Direct labor = $200,000

Ending work in process = $10,000

Manufacturing overhead = $180,000

Beginning finished goods = $25,000

Operating expenses = $175,000

Ending finished goods = $15,000

∴ Cost of goods manufactured = Direct materials used + Beginning work in process + Direct labor - Ending work in process + Manufacturing overhead + Beginning finished goods - Ending finished goods

= $120,000 + $20,000 + $200,000 - $10,000 + $180,000 + $25,000 - $15,000

= $520000

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3 years ago

Which tool of monetary policy allows the Federal Reserve to increase the

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Answer:

C. Reducing the reserve requirement on banks

Explanation:

The Federal Reserve( Fed) expects commercial banks to maintain a percentage of customer deposits in their custody. The amount that the banks keep is known as reserves. The Fed sets the percentage of deposits to be held as reserves. The Fed may adjust this percentage in line with its monetary objectives.

By reducing the reserve requirements percentage, commercial banks remain with a bigger portion of deposits that they lend out. It means banks will issues out more loans to customers. An increase in lending adds more money to the economy. Reducing the reserve requirement increases the money supply in the country.

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4 years ago

Mullineaux Corporation has a target capital structure of 46 percent common stock, 5 percent preferred stock, and the balance in

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Answer:

c. 11.02 percent

Explanation:

Weighted Average Cost of Capital (WACC) is the return that is required by the long term providers of Finance for the Business.

WACC = Ke × E/V + Kp × P/V + Kd × D/V

Where,

Ke = Cost of Equity

= 15.8 %

E/V = Market Weight of Equity

= 0.46

Kp = Cost of Preference Stock

= 8.3 %

P/V = Market Weight of Preference Stock

= 0.05

Kd = After tax Cost of Debt

= 6.8 %

D/V = Market Weight of Debt

= 0.49

Therefore,

WACC = 15.8 % × 0.46 + 8.3 % × 0.05 + 6.8 % × 0.49

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3 years ago

Bob owns a trout farm with monopoly power in north carolina. bob's optimal output occurs where marginal revenue ________. becaus

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4 years ago

Costs associated with two alternatives, code-named Q and R, being considered by Albiston Corporation are listed below: Alternati

Neko [114]

Answer:

Albiston Corporation

Relevant and Irrelevant Costs:

Relevant Costs:

Alternative Q Alternative R

Power costs $36,600 $35,600

Inspection costs $32,000 $35,600

Irrelevant Costs:

Alternative Q Alternative R

Supplies costs $79,000 $79,000

Assembly costs $48,000 $48,000

Explanation:

a) Data and Comparisons:

Alternative Q Alternative R

Supplies costs $79,000 $79,000

Power costs $36,600 $35,600

Inspection costs $32,000 $35,600

Assembly costs $48,000 $48,000

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