1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vilka [71]
3 years ago
6

lila gallo borrowed $10000 from her bank to build up the inventory of her stationery store. the loan was payable in six months a

t 12 percent interest per year, which the bank deducted in advance. how much money did lila actually receive/
Business
2 answers:
sesenic [268]3 years ago
5 0

Answer:

$9,400

Explanation:

generally bank loans collect their interests when the loan payments are due, e.g. every monthly payment includes a part that pays interests and another that reduces principal amount. In this case, Lila got a 6 month loan that requires a lump sum payment at the end of the sixth month, but the bank charges her interest in advance, which is a fancy way of actually charging a higher effective interest.

she will receive principal - (principal x interest charges) = $10,000 - ($10,000 x 12%/2) = $10,000 - $600 = $9,400

in this case, the interest rate that Lila is effectively paying = $600 / $9,400 =   6.38% semiannual or 12.77% annual

antiseptic1488 [7]3 years ago
4 0

Answer:

Explanation:

Amount actually received = Initial amount - interest payment

Interest payment = 10,000*12%/2 = 10,000*6% = 600

Amount actually received = 10,000-600 = $9,400

You might be interested in
Lonergan, Inc., a calendar year S corporation in Athens, Georgia, had a balance in AAA of $200,000 and AEP of $110,000 on Decemb
Finger [1]

Answer:

Explanation:

                                                                      AAA                   AEP

Beginning balance, 1/1/20                           200,000        110,000

Less: Distributions                                          (140,000)            (0)

Less: Loss (ordinary)                                  (120,000)            (0)

Ending Balance                                           (60,000)       110,000

Here AAA is adjusted first for the distributions and then for the loss. The negative balance must be restored to a positive before the shareholders may receive any distributions that will not be taxed as dividend income.

6 0
3 years ago
Wiley's has total equity of $679,400, long-term debt of $316,900, net working capital of $31,600, and total assets of $1,123,900
Elenna [48]

Answer:

The answer is 0.4

Explanation:

The formula for total debt ratio is total debt ÷ total assets.

Total debt equals current debt plus total long-term debt.

To find total debt(liability), remember Asset = Liability + Equity.

Therefore, Liability (debt) will be Asset - equity

$1,123,900 - $679,400

Total debt(liability) = $444,500

So, total debt ratio will be:

$444,500/$1,123,900

=0.4

This ratio means 0.4 or 40 percent of the company asset is financed by debt.

7 0
3 years ago
Fernstrom Corporation has two divisions: East and West. Data from the most recent month appear below: East West Sales $ 330,000
GenaCL600 [577]

Answer:

The company’s overall net operating income  would be $52,140

Explanation:

If the all divisions of the company are operates at break even level the overall net operating income of the company would be zero . because at break even level the sales value is equals to total variable cost plus total fixed cost if the company incurring any addition fixed cost then the over all net operating income will show loss of additional fixed incurred.  The answer for the given question is the overall net operating income of the company would be ($52,140).

3 0
3 years ago
Sami nguyen is responsible for two departments that continually set conflicting goals. sami must get involved in ____ to achieve
Paul [167]
<span>Sami must get involved in communicating between departments. He needs to set meetings so they can reach a joint goal and plan to get there. He needs to foster teamwork.</span>
6 0
3 years ago
Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Income taxes
erik [133]

Answer:

The amount of net pay recorded by Hernandez is $380,650

Explanation:

Gross Pay                      $500,000

Income Tax                      $63,000

Social security              $31,000

Medicare                      $7,250

Charitable contribution      $5,000

Union Dues                      $10,000

Unemployement Tax      $3,100

Net Pay                              $380,650

Therefore, The amount of net pay recorded by Hernandez is $380,650

6 0
3 years ago
Other questions:
  • Match the academic requirements with the careers.
    7·2 answers
  • Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of marr
    14·1 answer
  • This type of drug speeds up, increases, or heightens bodily functions.
    13·2 answers
  • Which statement or statements apply to a bond which is selling at a premium?
    6·2 answers
  • Creative Sound Systems sold investments, land, and its own common stock for $31 million, $14.9 million, and $39.8 million, respe
    7·1 answer
  • The Crane Company issued $250,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each
    8·1 answer
  • Jennifer is trying to decide between a cup of coffee and a glass of orange juice. The coffee costs $1 and yields 10 units of add
    14·1 answer
  • Q OB10.9: One of the most common reasons for conflict in an organization is
    13·1 answer
  • The owner of a go-kart racetrack would like to have a ratio of 2 red racers for every 3 green mini-trucks. The racetrack current
    12·1 answer
  • The aicpa has assigned responsibility for issuing official pronouncements on auditing matters to the
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!