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
ivann1987 [24]
3 years ago
9

On July 8, Action Co. issued a $70,000, 6%, 120-day note payable to Scanlon Co. Assuming a 360-day year, what information is nee

ded to calculate the maturity value of the note?
Business
1 answer:
vlabodo [156]3 years ago
8 0

Answer: c. The face value ($70,000), interest rate (6%), and term (120 days) are needed to calculate the maturity value of the note.

Explanation:

The Maturity Value of the note payable will be the Total Amount at the end of 120 days. This amount would be the face value of the Note plus the interest that would have accrued over these 120 days.

Maturity Value = Face Value + ( Face Value * interest rate * term)

= 70,000 + ( 70,000 * 0.06 * 120/360)

= 70,000 + 1,400

= $71,400

Option C is correct.

You might be interested in
Regulatory policy requires a balance between protecting safety and.
Montano1993 [528]
Regulatory policy requires a balance between protecting safety and
protecting constitutional rights.
3 0
2 years ago
Which is not one of the pressing issues facing the future of delinquency prevention?
jeka57 [31]
<span>The long delays before childhood intervention programs showing a reduction of delinquency is not one of the issues. Ethical concerns over early intervention, the stigmatization that occurs when labeling children and families "delinquent," and the ease at which these programs have expanded are all issues that have taken place in the recent past.</span>
3 0
3 years ago
Asking "Who would buy my product?" in a survey is an example of what?
Aleksandr-060686 [28]
Direct mail
Hope it helps
8 0
3 years ago
Read 2 more answers
Jack transferred a building that had an adjusted basis of $75,000 and a fair market value of $130,000 to R Corp. in exchange for
schepotkina [342]

Answer:

A. $30,000  

Explanation:

Jack realises gain of ( 100000 FMV of stock + 30000 FMV of car - 75000 Adjusted basis )

$ 55000

Jack recognises gain of $ 30000 i.e the FMV of the property ( car ) other than the stock received.

Therefore, The amount of gain that R must recognize on the exchange is $30,000.

4 0
3 years ago
Help me please please
monitta
Either a or c it’s one of those
6 0
3 years ago
Read 2 more answers
Other questions:
  • A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to
    5·1 answer
  • Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry abou
    7·1 answer
  • The global air-traffic control system and the world's major stock markets are examples of what kind of systems?
    8·1 answer
  • Which of the following is an example of promotion?
    6·2 answers
  • Two fair dice, one blue and one red, are tossed, and the up face on each die is recorded. Define the following events: E:{ The n
    6·1 answer
  • Lee company is a perfectly competitive firm. the market price of its output is $10. the firm is currently producing 100 units of
    6·2 answers
  • Sue invested $5,000 in the ABC Limited Partnership and received a 10 percent interest in the partnership. The partnership had $2
    13·1 answer
  • In this firm commitment offering who bears the financial risk? Who would bear the risk in a best efforts offering?
    6·1 answer
  • A 40-year old taxpayer has owned a Roth IRA for more than 5 years. A $10,000 distribution will be considered nonqualified if the
    5·1 answer
  • What is responsibility accounting? why should noncontrollable costs be excluded from perfor-mance reports prepared in accordance
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!