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3 years ago

15

When credit terms for a sale are 2/15, n/40, the customer saves by paying early. What percent (rounded) would this savings amoun

t to on an annual basis

1 answer:

kolezko [41]3 years ago

3 0

Answer:

Ssss

Explanation:

Ssssssgggg

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Nathalie is willing to apply for a car loan. She is 18 years old, still lives at home with her parents and has a part-time job d

Eduardwww [97]

Answer:

Nathalie provides a cosigner on her loan

Explanation:

In the case when an inidvidual co-signs the loan so the individual is become obligated in a legal way to repay the full loan with respect to nathalie when she is not able to pay the amount. Also the loan officer would permitted in that case when the co-signer has the stable kind of job or the source of revenue.

So, nathalie not sign the car of the parent as the collateral as it required the parent consent

So the above should be the answer

8 0

2 years ago

QS 11-9 Recording warranty repairs LO P4 On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty

prisoha [69]

Answer:

<em>On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts</em>

<u>Recording of revenue:</u>

Cash $490 (debit)

Revenue $490 (credit)

<u>Recording of Warranty granted :</u>

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

<em>On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory</em>

<u>When warranty is subsequently received:</u>

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Explanation:

<em>On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts</em>

<u>Recording of revenue:</u>

Cash $490 (debit)

Revenue $490 (credit)

<em>We Recognise Revenue to depict transfer of control of mower</em>

<u>Recording of Warranty granted :</u>

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

<em>There is no option for customer to take the warranty or not, so this is a service warranty.The warranty is measured at the best estimate of expenditure required to settle the obligation that is at 10% of sales.</em>

<em>On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory</em>

<u>When warranty is subsequently received:</u>

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

<em>Utilise the Warranty Provision when the warranty claim is subsequently received</em>

<em></em>

7 0

3 years ago

1046.01-1027.28A 3.25 percent Treasury bond is quoted at a price of 99.04. The bond pays interest semiannually. What is the curr

katen-ka-za [31]

Answer:

3.28%

Explanation:

Current yield = Annual Coupon payment / Market price of the bond

Annual Coupon payment = 3.25% of face value = 3.25% * $100

= $3.25 "value is assumed at $100"

Market price of the bond = $99.04

Therefore , Current yield = $3.25 / $99.04

= 0.03281

= 3.28%

4 0

3 years ago

Exercise 4-16 Sheffield Co. reports the following information for 2020: sales revenue $777,100, cost of goods sold $520,000, ope

Lesechka [4]

Answer:

Sheffield Co

statement of stockholders' equity

for the year ended 31th December 2020

Common Stock RE OCI Total

Balance Jan 1 360,400 92,040 86,000 538,440

Net Income 167,900 167,900

unrealized loss -53,700 -53,700

Dividends -11,670 -11,670

Stock issued

Balance, Dec 31 360,400 248,270 608,670

Explanation:

We need to calcualte the net income:

sales revenue 777, 100

cost of goods sold (520,000)

operating expenses <u> (89,200) </u>

Net Income 167,900

This will go into retained earnings

Dividends will also impact on retained earnings

Unrealized holding loss on available-for-sale debt securities for 2020 of $53,700.

This will modify the other comprehensive income.

The rest, will be post the beginning balance and include this variation.

3 0

3 years ago

The value of Investment A at the end of year 5 is $20,000. Assuming that interest is compounded annually, and the interest rate

mina [271]

Answer:

PV= $13,611.66

Explanation:

Giving the following information:

Future Value (FV)= $20,000

Number of periods (n)= 5 years

Interest rate (i)= 8%

<u>To calculate the present value, we need to use the following formula:</u>

FV= PV*(1+i)^n

Isolating PV:

PV= FV/(1+i)^n

PV= 20,000 / (1.08^5)

PV= $13,611.66

3 0

3 years ago