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2 years ago

You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year. How

Business

1 answer:

Luda [366]2 years ago

8 0

Answer:

$3,088.80

Explanation:

Note that the loan is meant for 120days , however, the interest rate quoted is on an annual basis, hence, the interest for 120 days is 2.96% ( 9%*120/365).

It is equally important to note that at maturity the loan principal and the interest accrued thus far for 120 days are repayable to the lender as computed below:

total repayment=$3000+($3000*2.96% )

total repayment=$3000+$88.80

total repayment=$3,088.80

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Net working capital increases when: Multiple Choice inventory is sold at cost. fixed assets are purchased for cash. inventory is

sashaice [31]

Answer:

d. inventory is sold at a profit

Explanation:

Net working capital increases when <u>inventory is sold at a profit</u>

Net working capital = Current Assets - Current Liabilities . Cash, Inventory and receivables are part of current assets

Hence, when inventory is sold at profit, cash received is more than decrease in inventory and hence, current asset increase and hence, working capital increases. When it is sold at cost, it remains the same. Purchase of inventory on credit will lead to same amount increase in current assets and current liabilities. Payment by customer will lead to increase in cash and decrease in accounts receivable, Hence, no impact

6 0

2 years ago

Delta Manufacturing has budgeted the following unit sales: 2019 Units April 25,000 May 40,000 June 60,000 July 45,000 Of the uni

Greeley [361]

Answer:

The budgeted sales for coastal division for second quarter 2019 is $750,000

The budgeted sales for central division for second quarter 2019 is $900,000

Explanation:

Coastal division sales budget for the second quarter 2019

Months Quantity sold price total revenue

April 25,000*40%=10,000 $15 $150,000

May 40,000*40%=16000 $15 $240,000

June 60,000*40%=24000 $15 $360,000

Total coastal division budgeted sales for second quarter $750,000

Central division sales budget for the second quarter 2019

Months Quantity sold price total revenue

April 25,000*60%=15,000 $12 $180,000

May 40,000*60%=24,000 $12 $288,000

June 60,000*60%=36,000 $12 $432,000

Total coastal division budgeted sales for second quarter $900,000

8 0

3 years ago

Read 2 more answers

Drum buffers are:

maks197457 [2]

Answer: Extra safety that is applied to a project immediately before the use of the constrained resource.(D)

Explanation:

Drum buffer can be explained as period of time that is used to safeguard the drum resource from the problems that occur from the drum operation.

The aim of the drum buffer effect is to provide a recheck of the work in order not to deviate from the real aim of the project. The buffer makes up for the process variation, and makes the project stable as it gives extra safety which is applied mmediately before using constrained resource.

6 0

3 years ago

During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value

MAVERICK [17]

Answer:

$162,500

Explanation:

Depletion is used to expense the cost of extracting natural resources.

Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)

(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500

I hope my answer helps you

8 0

3 years ago

Read 2 more answers

Job 543 started on june 1 and finished on july 15. Total cost on july 1 was $10,800, and the costs added in july were $164,300

Snowcat [4.5K]

Answer:

$175,100

Explanation:

Job 523 started on June 1 and ended on July 15

The total cost on July 15 was 10,800

The cost added in July was 164,300

Therefore the debit to cost of goods sold can be calculated as follows.

= 10,800 + 164,300

= 175,100

Hence the debit to cost of goods sold is $175,100

4 0

3 years ago