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3 years ago

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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Griffin's Goat Farm, Inc., has sales of $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,00

mote1985 [20]

Answer:

The correct answer is $310,470.

Explanation:

According to the scenario, the computation of the given data are as follows:

First we calculate gross profit:

Gross profit = Sales - Cost of Goods Sold = $796,000 - $327,000 = $469,000

Now, Earnings Before Tax = Gross profit - Depreciation - Interest

= $469,000 - $42,000 - $34,000 = $393,000

So, Net income = Earnings Before Tax - Tax percent on EBT

= $393,000 - 21% × $393,000

= $393,000 - $82,530

= $310,470

6 0

3 years ago

Read 2 more answers

On the acquisition date, Stryder reported net assets with a book value of $170,000. A total of $10,000 of the acquisition price

bekas [8.4K]

Answer:

$723,000

Explanation:

The consolidation is a process in which parent company acquires controlling interest in another company. Stryder's is a 100% owned subsidiary which had a book value of net assets $170,000. The consolidated amount of assets to be reported in the balance will be sum of parents assets plus subsidiary's assets. The consolidated statement shows the assets of subsidiary's on which parent has claims. The consolidation shows aggregated financial results of the two companies.

3 0

3 years ago

true or false: the beta for the portfolio after the stocks have been added is the weighted average of the beta before the stocks

Ket [755]

The answer is true. A stock is a broad phrase that refers to any company's ownership certificates. A share, on the other hand, refers to a company's stock certificate.

You become a shareholder if you own a share of a specific corporation. Stocks are classified into two types: common and preferred. When you purchase stock in a corporation, you become a part-ownership of that company. If a corporation has 100,000 shares and you purchase 1,000 of them, you own 1% of the company. Investing in stocks is fundamentally about accumulating and growing wealth. The most basic suggestion for traders on how to invest money in the stock market is 'buy cheap, sell high.'

To learn more about stock, click here.

brainly.com/question/28663581

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8 0

1 year ago

Mildred was persuaded by a fast-talking salesperson to carry an expensive brand of yarns in her retail needlecraft shop. seldom

Makovka662 [10]

That would be confirmation bias :)

5 0

3 years ago

A copy machine cost $ 45 comma 000 when new and has accumulated depreciation of $ 44 comma 000. Suppose Print and Photo Center s

natita [175]

Answer:

The disposal resulted was at D. No gain or loss

Explanation:

The gain or loss on disposal on a fixed asset is calculated by comparing the sales proceeds from disposing off the asset and the carrying value of the asset.

The carrying value of the asset is its net book value which is calculated as follows,

Carrying value = Cost - Accumulated depreciation

If the carrying value is equal to the sales proceeds from disposal, there is no gain or loss.

The carrying value of copy machine was = 45000 - 44000 = $1000

The sales proceeds were also $1000

Thus, gain/loss on disposal = 1000 - 1000 = $0

Thus, there was no gain or loss on disposal.

6 0

3 years ago

Read 2 more answers