The money and merchandise you owe to creditors are your _______

Personal finance chapter 5. A Cerificate of desposit will often result in a penalty for withdrawing funds beofre the maturityy d

Varvara68 [4.7K]

Answer:

The penalty will be $133.333 for the early withdrawal.

Explanation:

On a $20,000 earning 4% annually, the amount of interest earned per year is:

$ 20 , 000 x 4% = $ 800

On a monthly basis, the CD earns:

$ 800 / 12 = $ 66.667

If the penalty involves a two (2) months worth of interest, then, the penalty for the early withdrawal will be:

2 x $ 66.667 = $ 133.333

8 0

3 years ago

The SBA provides information for which group of people?

Viktor [21]

Answer:

people starting and operating small businesses

Explanation:

In business terms, SBA stands for Small Business Administration.

This is a government agency that was formed in 1953 with the purpose of providing small scale entrepreneurs with various types of supports. Such as education about how to operate a business, small loans as their beginning capital, etc.

The government created this administration to encourage production of goods that stimulate the growth of the nation's Economy.

4 0

3 years ago

Bramble Corp. purchased a machine for $65600 on July 1, 2020. The company intends to depreciate it over 8 years using the double

KonstantinChe [14]

Answer:

$16,400

Explanation:

Depreciation for 2020 is calculated as;

= (Cost - Nill value) × 50% × 6/12[July to December)

Given that ;

Cost = $65,600

Depreciation = ($65,600 - 0) × 0.5 × 6/12

Depreciation = $16,400

Therefore, depreciation for 2020 is $16,400.

4 0

2 years ago

Sam has contracted with dave to purchase dave's racing bike, with payment and delivery of the bicycle to be in 10 days. three da

GaryK [48]

He should remind Dave about the racing bike purchase contract if he really wants the bike. The action can be done if there was a binding clause in the contract which binds Sam as the only buyer. Sam has a better option which is to sell the contract to Gene with a price higher than the first price but lower than the last price in order to gain a return from the bike purchase contract.

7 0

3 years ago

Sayon Co. issues 200,000 shares of $5 par value common stock to acquire Trask Co. in an acquisitionbusinesscombination. The mark

enot [183]

Answer:

option (c) $1,365,000

Explanation:

Given;

Number of shares issued = 200,000

Par value of the common stock = $5

Market value of the common stocks= $12

Legal and consulting fees = $110,000

Registration and issuance costs for the common stock = $35,000

Now,

The par value of the stocks

= Number of shares issued × Par value of the stocks

on substituting the respective values, we have

= 200,000 × $5

= $1,000,000

and, the Market value of the stocks

= Number of shares issued × Market value of the stocks

on substituting the respective values, we have

= 200,000 × $12

= $2,400,000

Therefore,

the net additional paid in cash

= Market value of the stocks - par value of the stocks - Registration and issuance costs

on substituting the respective values, we have

= $2,400,000 - $1,000,000 - $35,000

= $1,365,000

The legal and the consulting fees is not included above because they are paid in cash.

Hence, the correct answer is option (c) $1,365,000

5 0

3 years ago

The money and merchandise you owe to creditors are your ________.