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NemiM [27]
3 years ago
15

Federal Bank of America has loaned $9,000 to Southgate Animal Hospital, using a 90-day non-interest-bearing note. The bank disco

unted the note at 8%. The debit to Discount on Notes Payable in the general journal will be in the amount of
Business
1 answer:
eduard3 years ago
7 0

Answer: $180

Explanation:

From the question, Federal Bank of America has loaned $9,000 to Southgate Animal Hospital, using a 90-day non-interest-bearing note. The bank discounted the note at 8%.

Therefore, the debit to Discount on Notes Payable in the general journal will be:

= $9,000 × 8% × 90/360

= $9,000 × 8/100 × 1/4

= $9,000 × 0.08 × 0.25

= $180

The correct answer is $180

It should be noted that we used 360 days for a year.

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Dave and Kelly are discussing how quickly products now become obsolete in their industry. David believes this will make it more
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Explanation: This is incorrect because the more information we have about the market and the obsolescence time of our products, the better we will be able to coordinate the marketing strategy so that the time spent will be paid with greater profits in the future.

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6 0
3 years ago
Bob writes a check to cash for $1000 to pay a bill from Acme. He then finds out that Acme breached the contract so he decides he
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Answer:

Holder in due course

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6 0
3 years ago
A preferred stock sells for $54.20 a share and has a market return of 9.68 percent. What is the dividend amount
kolbaska11 [484]

Answer:

$5.25

Explanation:

A preferred stock is sold at $54.20

The market return is 9.68%

Therefore the dividend amount can be calculated as follows

= 54.20 × 9.68/100

= 54.20 × 0.0968

= $5.25

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6 0
2 years ago
You run a hotel with 200 rooms. Fixed daily cost is $1500 which includes staff salary and property charges, maintenance cost is
erica [24]

Answer:

The revenue is $2,450

Explanation:

The computation of the revenue is shown below:

= Sales - variable cost - additional costs - fixed cost

where,

Sales = Selling units × price per unit

         = 50 rooms × $100

         = $5,000

Variable cost = variable cost × price per unit

                      = 50 rooms × $15

                      = $750

The other cost value would remain the same

Now put these values to the above formula  

So, the value would equal to

= $5,000 - $750 - $300 - $1,500

= $2,450

6 0
3 years ago
Read 2 more answers
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