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3 years ago

5

Sarah borrowed $16,500 on May 23 with interest due on September 3. If the interest rate is 9%, find the interest on the loan usi

ng exact interest and ordinary interest.

2 answers:

3241004551 [841]3 years ago

8 0

I believe it’s 1,485 if i did it right and if it’s 16,500 • 9%

sveticcg [70]3 years ago

4 0

Exact Interest I = $419.06

Ordinary Interest I = $424.88

Hope this helps!

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Q 5.34: A wholesaler offers credit terms 1/10, n/30. A fabric store bought goods worth $6,500 from the wholesaler. Within the di

AnnyKZ [126]

Answer:

the wholesaler received $6,138 as payment.

Explanation:

The seller would receive the the amount owing to customer less the return credit and cash discount of 1 %.

The calculation of this amount is as follows :

Account Receivable $6,500

Less Return Credit ($300)

$6,200

Less Cash discount ($6,200 × 1%) ($62)

Payment $6,138

Conclusion :

the wholesaler received $6,138 as payment.

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3 years ago

Sunland Company made a $24700 sale on account with the following terms: 2/10, n/30. If the company uses the gross method to reco

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Answer:

The debit in the journal entry to record sale is Accounts receivable debit by $24700.

Explanation:

The gross method requires a company to record the sale at the gross value i.e. without deducting the discount allowed. Thus, under Gross method, the sale is recorded at its actual value. The entry to record this sale is:

Accounts Receivable 24700 Dr

Sales revenue 24700 Cr

Thus, in this entry under gross method, the debit is Accounts receivable by $24700.

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3 years ago

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Answer:

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3 years ago

The following information is available regarding John Smith's capital account in Technology Consulting Group, a general partners

bekas [8.4K]

Answer:

32.35%

Explanation:

Calculation for What is Smith's partner return on equity during the year in question

First step is to calculate the Ending partner equity

Ending partner equity = $32,000 + $11,000 - $7,000

Ending partner equity = $36,000

Now let calculate the partner return on equity

Partner return on equity= $11,000 / (($32,000 + $36,000)/2)

Partner return on equity= $11,000/($68,000/2)

Partner return on equity= $11,000/$34,000

Partner return on equity= 32.35%

Therefore Smith's partner return on equity during the year in question will be 32.35%

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3 years ago

17. What is the difference between a stock dividend and a stock split? As a stockholder, would you prefer to see your company de

gulaghasi [49]

Answer: The answers are provided below.

Explanation:

A stock dividend occurs when the firm uses the money that was meant to be paid to the shareholders as cash dividend to buy additional common shares for them. A stock split occurs when a firm gives two or more new shares to every existing share that an investor holds.

As an investor, I'll consider whether the aim of the company in making a stock split or issuing a stock dividend aligns with my aim of investing in the company. In a case where the aims doesn't align with mine, I'll go and invest in another firm.

A company declaring 100% dividend shows growth and also, as a stakeholder, tax may not be paid by me. Stock split gives room for small investors to invest and it also reduces share price.

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3 years ago

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