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3 years ago

6

Diana is a customer of Apexoria Bank, which is not a member of the FDIC. She currently has a checking account with $11,000 in it

. How much of Diana's money is FDIC-protected?
A. $0
B. $18,156
C. $250,000
D. $11,000

2 answers:

Stella [2.4K]3 years ago

7 0

<span>The answer is A.$0 Since, the Apexoria Bank is not a member of FDIC, no money of Diana is FDIC protected.</span>

BlackZzzverrR [31]3 years ago

4 0

Answer:

A. $0

Explanation:

a.p.e.x

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2 years ago

The break-even point is that level of activity where: Multiple Choice a) total revenue equals total cost. b) variable cost equal

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Explanation:

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3 years ago

The following costs were incurred in May:

algol13

Answer:

d. $55,600

Explanation:

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3 years ago

Western Company is preparing a cash budget for June. The company has $12,000 in cash at the beginning of June and anticipates $3

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Answer:

b. Borrow $2,500

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2 years ago

Venezuela Co. is building a new hockey arena at a cost of $2,500,000. It received a downpayment of $500,000 from local businesse

FromTheMoon [43]

Answer:

cash 2,011,446 debit

unamortized bond cost 50,000 debit

bonds payable 2,000,000 credit

premium on BP 61,446 credit

--to record issuance--

# Beg. Carrying //cash // expense //Amortization// End.Carrying Value

1 2,061,446 210,000 206144.57 3855.43 2,057,590

2 2,057,590 210,000 205759.02 -4240.98 2,053,349

3 2,053,349 210,000 205334.93 -4665.07 2,048,684

4 2,048,684 210,000 204868.42 -5131.58 2,043,553

5 2,043,553 210,000 204355.26 -5644.74 2,037,908

Bonds payable 1,000,000 debit

premium on BP 24,342 debit

issuance cost expense 25,000 debit

interest expense 51,217.1 debit

loss at redemption 41.959,9‬ debit

cash 1,117,500 credit

unarmortized bond issuance cost 25,000 credit

Explanation:

First, we solve the value collected which is the present value of the coupon payment and maturity

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 210,000.000

time 10

rate 0.1

$210000 \times \frac{1-(1+0.1)^{-10} }{0.1} = PV\\$

PV $1,290,359.0922

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 2,000,000.00

time 10.00

rate 0.1

$\frac{2000000}{(1 + 0.1)^{10} } = PV$

PV 771,086.58

PV c $ 1,290,359.0922

PV m $ 771,086.5789

Total $ 2,061,445.6711

Now, we solve for the premium

2,061,446 - 2,000,000 = 61,446 premium

the interst expense will be calcualte as carrying value times market rate

the cash will be the same for every period thus 210,000

Finally, the difference will be the amortizationon the premium

If redem on July 1st 2016 we need to record the interst:

2,048,684 x .05 = 102.434,2/2 = 51.217,1

cash interest: 1,000,000 x 10.5% / 2 = 52,500

<em>Total cash</em>

52,500 interest

<u>1,065,000 bonds </u>

1,117,500

portion of unamortized cost 25,000

face value 1,000,000

portion of premium: 48,684/2 = 24.342‬

the loss f redemption will be the difference between the interest expense, amoritzation on premiun and write-off of the face value with the amount of cash outlay.

8 0

3 years ago