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maksim [4K]
3 years ago
15

Assuming a 360-day year, when a $20,000, 90-day, 5% interest-bearing note payable matures, total payment will be

Business
1 answer:
solong [7]3 years ago
7 0

Answer:

total payment will be $21,000.

Explanation:

The Payment at maturity will include, the Principle amount (amount borrowed) and the Interest that accrued over the period of the note payable.

<u>Total Payment Calculation :</u>

Principle amount            = $20,000

Interest ($20,000 × 5%) =    $1,000

Total Payment                =  $21,000

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The _____ is an agency of the federal government that offers both managerial and financial assistance to small businesses.
Reil [10]

Answer:

D. Small Business Administration.

Explanation:

The Small Business Administration (SBA) is an agency of the federal government that offers both managerial and financial assistance to small businesses. SBA was established in 1953 as an autonomous or independent agency of the government of the United States of America. Generally, it is saddled with the responsibility of providing both managerial and financial assistance and counseling to small businesses in order to bolster the American economy.

The small business administration (SBA) serves as an intermediary between entrepreneurs and investors or creditors, in order to provide them with the necessary funds required to plan, start and grow their business.

<em>Basically, SBA provides services such as entrepreneurial development, access to funds, advocacy and contracting to small businesses (entrepreneurs) in the United States of America. </em>

5 0
3 years ago
Which of the following does not allow a company to exclude a short term obligation from current liabilities? Group of answer cho
Neporo4naja [7]

Answer: Actually refinance the obligation.

Management indicated that they are going to refinance the obligation.

Have a contractual right to defer settlement of the liability for at least one year after the balance sheet date.

The liability is contractually due more than one year after the balance sheet date.

Explanation:

A current liability is an obligation payable within a year. A short term liability can be excluded from current abilities if management indicates that they are going to refinance it and show that they are capable of doing so.

Also if the company has a contractual right to defer settlement of the liability for at least one year after the balance sheet date, the short term obligation can be excluded.  The deferment means that it will be recognized in another period.

When the liability is contractually due more than one year after the balance sheet date, it stops being a current liability and becomes a non-current liability payable after a year.

3 0
2 years ago
N December 2, Coley Corp. acquired 1,700 shares of its $2 par value common stock for $21 each. On December 20, Coley Corp. resol
erma4kov [3.2K]

Answer:

Credit Treasury Stock $20,000

Explanation:

When the company reissued the shares, the Treasury Stock account is credited by the same price they were acquire. i.e. in this case we acquire the treasury stock at a price of $20.

Cash (1,000 * 12)                                    12,000

Additional Paid in Capital                        8,000

                         Treasury Stock (1,000 * 20)               20,000

6 0
3 years ago
You purchased a bond at a price of $1,700. In 20 years when the bond matures, the bond will be worth $10,000. It is exactly 13 y
ryzh [129]

Answer:

<u>Annual rate of return which will be earned from today is 5.89%</u>

Explanation:

FV = PV (1+r)^n

r is int Rate per anum abd n is balance period

10000 = 6700 ( 1 + r)^n

10000 = 6700 ( 1 + r)^7

( 1 + r)^7 = 10000 / 6700

= 1.4925

1+r = 1.4925^(1/7)

= 1.0589

r = 1.0589- 1

= 0.0589 i.e 5.89%

8 0
2 years ago
Can someone help me and help me match these words to the correct picture
RUDIKE [14]
The telephone box and the other two about calls go to the bottom picture and the rest the top i would say
3 0
2 years ago
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