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3 years ago

On july 7, smithview bank lent $430,000 to andrews retail shop on a 90 day, 6% note. what is the maturity date of the note?

1 answer:

6 0

B .There are 24 days remaining in July (31 - 7 ); 31 days in August; 30 days in September; and 5 days in October (24 + 31 + 30 + 5 = 90 days).

The days are not only based on estimation but on Accurate number of days in each month. Since it is written in july 7 then its maturity will be on october 5

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Jackson State University is evaluating two options. It can perform online distance learning upgrades now for $275,000 or it can

Vera_Pavlovna [14]

Answer:

The answer for (a)$442,890 for (b) $364,023.5

Explanation:

From the question, the first set to take is to determine if the Mayor should purchase now or late when,

(a)When inflation is not considered

(b)When inflation is considered

(A) When inflation is considered

Future worth analysis (FWA) = 275, 000 (i +1)^5

=275,000 (1.10)^5

= $442,890

Thus, since FW > $375,000,

The cost of future is less, the Mayor should purchase later.

(B) When inflation is considered

Real rate = ( 1 + nominal/1 +inflation)^-1 = 1.1/1.04 -1 = 0.057 = 5.77

FW = 275,000 (1 +i)^5 = 275,000 (1.0577)^5

=$364,023.5

So FW< 375,000

Because the worth of buying or purchasing is less, the mayor should purchase now

3 0

3 years ago

You want to go to Europe 5 years from now, and you can save $7,300 per year, beginning one year from today. You plan to deposit

tino4ka555 [31]

Answer:

$36,602.5

Explanation:

Your profit each year of saving $7,300 at 8.5% return each year is $620.5

In that case you earn $7,920.5 each. Multiply by 5 years which is the fifth year you made the last deposit, and you will arrive at $36,602.5

6 0

3 years ago

Read 2 more answers

Pepperdine reported net sales of $8,600 million, net income of $126 million and average accounts receivable of $890 million. its

ArbitrLikvidat [17]

The term receivables turnover ratio refers to an accounting measure that quantifies an agency's effectiveness in amassing its debts receivable.

An example of turnover is whilst new employees leave, on average, once every six months. An instance of turnover is whilst a shop takes, on common, three months to sell all its cutting-edge inventory and requires new inventory. The fee at which workers in a business enterprise, sufferers in a medical institution, and many others. are replaced.

Turnover is an accounting idea that calculates how quickly a business conducts its operations. most often, turnover is used to recognize how speedy an agency collects cash from debts receivable or how speedy the organization sells its stock.

Turnover is the whole income made by means of a commercial enterprise in a positive duration. it's every now and then known as 'gross revenue' or 'earnings'. this is one-of-a-kind to earnings, which is a degree of profits.

Learn more about Turnover here: brainly.com/question/27523896

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6 0

1 year ago

Pina Colada Corp. has the following transactions during August of the current year.

const2013 [10]

Answer and Explanation:

The indication of the basic analysis and the debit credit analysis is as follows;

Date Basic Analysis Debit - Credit Analysis

Aug. 1 The asset Cash is increased; Debits increase assets;

the stockholders' equity account Debit Cash

Common stock is increased. $10,880

Credits increase stockholders' equity

Credit Common stock

$10,880

Aug. 4 The asset Prepaid Insurance Debits increase assets;

is increased; Debit Prepaid Insurance

the asset Cash is decreased. $ 1,500

Credits decrease assets;

Credit Cash

$ 1,500

Aug. 16 The asset Cash is increased; Debits increase assets;

the revenue Service revenue Debit Cash

is increased. $880

Credits increase revenues:

Credit Service revenue

$880

Aug. 27 The expense Salaries expense Debits increase expenses:

is increased; Debit Salaries expense

the asset Cash is decreased. $680.

Credits decrease assets:

Credit Cash

$680

3 0

3 years ago

On January 1, 2021, Nana Company paid $100,000 for 6,200 shares of Papa Company common stock. The ownership in Papa Company is 1

anygoal [31]

Answer:

$372,000

Explanation:

The computation of the amount to be reported in the balance sheet is shown below:

= Number of shares of common stock × fair value of the Papa stock on that date per share

= 6,200 shares × $60

= $372,000

Since in the question it is given that the Nana company does not have significant influence over Papa Company which means that the net income, retained earning, dividend is not be considered.

Therefore, the investment should be reported at the fair value

6 0

3 years ago