Answer:
(A) 420,000 cash disbursements
(B) discount.
(C) It will be more than the cash disbursements
Explanation:
6,000,000 x 0.07 = 420,000 cash disbursements
(B) the bonds were issued at discount, because the market rate was higher than 7% so the price fall below face value to match the market price.
(C) It will be more than the cash disbursements. There is adiference between face value and cash proceed from the issuance of the bonds, this diference is amortize each period increasing the interest expense of the bond.
Answer: b. $159.73
Explanation: At the end of the twenty years, Janice would have approximately $159.73 more than Kate. To solve for this, we calculate the future value of the money saved over the time period for both Janice and Kate, and then take the difference to arrive at the correct answer.
Future Value for Janice = $80 ×{[1 + (.055 / 12)]^240 - 1} / (.055 / 12) × [1 + (.055 / 12)] = $35,009.92
Future Value for Kate = $80 ×{[1 + (.055 / 12)]^240 - 1} / (.055 / 12) = $34,850.19
Difference = $35,009.92 - $34,850.19 = $159.73
Answer:
The $197,600 is the amount which should Don record on June 19 as an account receivable for its sale to Cologne
Explanation:
Spot rate: The spot rate is that rate which is levied immediately while doing the transaction.
Forward rate: The forward rate is that rate which is not yet decided and will decide in the future.
For computing the amount which don should record on June 19 as an account receivable for its sale to Cologne, the formula is to be used which is shown below:
= Account receivable balance × June 19 Spot rate
= 200,000 euros × $0.988
= $197,600
Since in the question they ask for June 19 for the sale amount. So, we use the spot rate instead of forwarding rate because the transaction is done in the present. Thus, the forward rate is ignored.
Hence, the $197,600 is the amount which should Don record on June 19 as an account receivable for its sale to Cologne
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