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The 3 types of partnerships are general partnership, unlimited partnership and unlimited liability partnership. Please select th

Rufina [12.5K]

True, Because The 3 Types Of The Partnerships Are General Partnerships, Because They Are Unlimited Partnership Because Of The Liability Partnership.

6 0

3 years ago

Blenman Corporation, based in the United States, arranged a 2-year , $1,000,000 loan to fund a project in Mexico. The loan is de

SashulF [63]

Answer:

17.67%

Explanation:

Solution

Given that:

The Loan amount in USD = $1,000,000

The Loan is denominated in Mexican pesos.

The rate of exchange at the time of loan = 5.75 pesos per USD

Thus,

The Loan amount in Mexican pesos = 1000000 * 5.75 = 5,750,000 Mexican pesos

The Loan carries interest rate = 6.5%

Now,

The Loan duration = 2 years = 4 semiannual periods

The Loan to be repaid in Mexican pesos in 4 equal semiannual installments

So,

To get semiannual installments we will apply PMT function of excel:

Which is,

PMT (rate, nper, pv, fv, type) = PMT(6.5%/2, 4, -5750000, 0, 0)

= 1556164.09 Mexican pesos

Thus,

The exchange rate dropped to 5.10 pesos per USD before the first semiannual payment is due and stays so till the end of loan period.

Then,

The Semiannual installment in USD = 1556164.09 / 5.10 = $305,130.2137

To get nominal semiannual rate (for USD amounts) we will use RATE function of excel:

The RATE(nper, pmt, pv, fv, type)

= RATE (4, 305130.2137, -1000000, 0,0)

= 8.477%

Effective annual rate = (1 + 8.477%) 2 - 1 = 17.67%

Therefore, the effective annual interest rate will Blenman end up paying on the loan is 17.67%

7 0

3 years ago

On July 1 of the current calendar year, Plum Co. paid $8,900 cash for management services to be performed over a two-year period

Iteru [2.4K]

Answer:

A debit to an expense and a credit to a prepaid expense for $2,225

Explanation:

As plum company paid $8,900 for 2 years contract on July 1, the number of months expired at the end of the December 31 was 6 months (July to December).

When the company paid for that prepaid expense for 2 years (24 months), it recorded -

July 1 Prepaid expense (Debit) $8,900

Cash (Credit) $8,900

As the accounting period ended on December 31, the expense expired for six months

Therefore, 6 months expense = $8,900 ÷ (6 × 24)

6 months expense = $2,225

Whenever the advance expense expired, the expense becomes debit and the asset (Prepaid expanse) will become a credit.

Debit expense $2,225

credit prepaid expense $2,225

Therefore, option A is correct.

7 0

3 years ago

Select the correct answer. Marketers use what kind of data validation to ascertain the reliability of secondary data? A. time se

myrzilka [38]

Marketers use this kind of data validation:

A. time series sales model

Explanation:

The time series sales model usually works for marketing campaigns because ultimately the marketeer wants to understand how many sales are being converted from primary and secondary sources.

This then leads to the cost and result assessment of the firm.

So, the time series sales model tells when how many sales are being done with some semblance of a filter for the secondary sources from the data of the marketer that they would have.

7 0

3 years ago

Read 2 more answers

Which of the following is not a cost typically associated with owning a car?

Tom [10]

Your answer would be #3 - wear and tear fees

8 0

4 years ago

Read 2 more answers