To calculate the maturity of this note,
we use a simple formula first to get the interest which is:
I = Principal (amount owed) X Interest Rate (%) X Time (length of loan)
The days is only divided by only 360 days instead of 365 days. This is because commercial loans often use 360-day calendar years instead of 365-day calendar years. But not all banks used this as their calendar year,
I = Prt
= ($80000) (0.05) (120/360)
= ($80000) (0.01666666666)
I = $ 1,333.33
To get the maturity value, the formula is: M = Interest + Principal
M = I + P
= $1,333.33 + $80,000
= $81,333.33 or $81,333, letter C
Answer:
unstructured interview
Explanation:
Unstructured interview involves asking questions that are not pre-arranged beforehand. The interviewer asks questions at his discretion to find out job related traits in the applicant.
This approach however can lead to legal issues as the interviewer may not know the implication of asking some questions that are not legally accepted for interviews.
Unstructured interviews are usually informal and like an everyday conversation. Probe questions are used to open candidates up as much as possible.
The measure of a product, service, or company's profitability is its profit margin. The bigger the percentage representing the profit margin, the more profitable the company is.
Profitability is gauged by profit margin. Finding the profit as a proportion of revenue is used to calculate it.
Profit margin=44.9%
Explanation to the answer:
Profit margin =Net income / sales
=7,050,000 / $ 15,700,000
=0.44904
=44.9%
Profit margin =44.9%
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Answer:
d) credit to Paid-in Capital from Treasury Stock for $30,000
Explanation:
The entry for profit in sale of treasury stock is as computed below
Account Details Debit Credit
Cash (5000*20) $100,000
To treasury stock (5000*14) $70,000
To Additional paid in capital (5000*6) $30,000
Answer:
By following the Accountants Principle and Dicksons policy of debiting Bad debt accounts as Accounts are written off, the Net income would have been impacted negatively (reduced) by the write off from Prior period of $31,330 only
However, by following the % of receivables approach, a total of $31,330 (Write off from prior period) + $9,240 (current period provision for bad debt) will impact the Net Income negatively (reduced) = $40,570
Explanation:
Accounts receivable balance = $77,000
12% projected uncollectible debt = $9,240
Provision for bad debt under the % of receivables approach = $9,240
Amount written off related to prior year = $31,330
