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2 years ago

At December 31, Year 1, Kale Co. had the following balances in the accounts it maintains at First State Bank:

Business

1 answer:

nignag [31]2 years ago

7 0

Answer:

$240,000

Explanation:

The computation of the amount of cash and cash equivalent is as follows;

Amount of cash and cash equivalents is

= Money market account + 90-day certificate of deposit + Checking account for 101 - Checking account for

= $25,000 + $50,000 + ($175,000 - $10,000)

= $25,000 + $50,000 + $165,000

= $240,000

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On December 31, 2021, Interlink Communications issued 6% stated rate bonds with a face amount of $119 million. The bonds mature

Tamiku [17]

Answer:

Price of the bond is $104,236,860.

Explanation:

Given:

Coupon rate is 6% or 0.06

Face value = $119,000,000

Coupon payment each year = 0.06×119,000,000

= $7,140,000

Yield to maturity = 7% or 0.007

Maturity period = 30 years

Price of bond = Present value of face value + present value of coupon payment (annuity)

Price of bond = $119,000,000_{(PV\ 30,0.07)} + 7,140,000_{(PVA\ 30,0.07)}$

PV of $1 for 7%,30 periods = 0.1314

PVA of $1 for 7%,30 periods = 12.409

Substitute the values in above formula:

Price of bond = (119,000,000 × 0.1314) + (7,140,000 × 12.409)

= 15,636,600 + 88,600,260

= $104,236,860

There will be slight difference in final answer as present value table is used. Excel spreadsheet gives an accurate answer.

So, price of bond is $104,236,860

8 0

3 years ago

If the Federal Reserve sells securities on the open market, how are the purchases of U.S. financial assets by foreigners and the

Sergeeva-Olga [200]

Answer:

A. Increase/Increase

Explanation:

The Federal Reserve is part of the inner economy of the country, which means that if it sells products on the open market (in the world) the inner economy will increase, in consequence the International Value of Dollar will increase because of the demand.

8 0

3 years ago

Deepak's team is in charge of conducting a review of their company's waste/mistake prevention policies and procedures. Part of t

lord [1]

Answer:

True

Explanation:

Although the business segments related to waste management and information systems may seem irrelevant at start, these two are often intertwined.

In order to successfully forecast the future of waste prevention and management, managers should take into consideration IS and their benefits. For example, how can a new IS that is scheduled for implementation next year affect the existing, real-time waste management system? Can the existing process be automatized and simplified with the aid of the IS?

Therefore, it is needed to include the IS aspect in the waste prevention policy review.

5 0

3 years ago

On May 7, Juanita Construction provides services on account to Michael Wolfe for $4,000. Michael pays for those services on May

yKpoI14uk [10]

Explanation:

May 7

Credit sales of $4,000 which means accounts receivable will increase by $4,000 and Sales revenue will also raise b y the same amount

May 13

Collection on account of May 7th sales which means the account receivable will go down by $4,000 and cash will increase by $4,000

Journal entries

DATE Particulars Amount

May 7th Account receivable (+A) Dr. $4,000

to Sales revenue (+Equity) $4,000

( To record the credit sales)

May 13th Cash (+A) Dr. $4,000

to Accounts receivable(-A) $4,000

(To record the receipt of cash)

6 0

3 years ago

What type of identity theft occurs when a thief uses someone else's identity to gain medical treatment or commit insurance fraud

Naddik [55]

I would say it is most likely financial fraud. Hope this helped :-)

7 0

3 years ago