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Compensating balance versus discount loan - Weathers Catering Supply, Inc. needs to borrow $151,000 for 6 months. State Bank has offered to lend the funds at an annual rate of 9.2% subject to a 10.3% compensating balance (Note: Weathers currently maintains $0 deposit in State Bank). Frost Finance Co. has offered to lend the funds at an annual rate of 9.2% with discount-loan terms. The principal of both loans would be payable at maturity as a single sum.
Question a. Calculate the effective annual rate of interest on each loan.
Question b. What could Weathers do that would reduce the effective annual rate on the State Bank loan?
What is the highest acceptable manufacturing cost Hannon would be willing to incur to produce the All-Body swimsuit, if it desired a profit of $16 per unit? (Assume target costing.)
If you were to accept the dealer’s offer, what would be the effective rate of interest per month the dealer charges on your financing?
Hendricks Corporation purchased trading investment bonds for $59,930 at par. At December 31, Hendricks received annual interest of $2,660, and the fair value of the bonds was $57,000. Prepare Hendricks’ journal entries for (a) the purchase of the inv..
Congress would like to increase tax revenues by 13 percent. Assume that the average taxpayer in the United States earns $48,000 and pays an average tax rate of 20 percent. If the income effect is in effect for all taxpayers, what average tax rate wil..
As the CFO of your corporation, you are in charge of preparing and analyzing financial statements that will be presented to potential investors and creditors. However, before you can present the financial statements to investors and creditors, you..
What was the amount of interest paid in the year ended September 27, 2014? What was the amount of income taxes paid for the same period?
Cost of Goods Sold and Merchandise Available for Sale in a Merchandising Company. Dash Department Store features women's fashions. At the beginning of the year, the store had $514,000 in merchandise. Total purchases for the year were $463,000. Calcul..
During 2007 the assets of Inspiring Sky increased by $30,000, and the liabilities increased by $15,000. If the owners equity in Blue Sky is $84,000 at the end of 2007, the owners equity at the beginning of 2007 must have been: Sea Coast Potters purch..
Higher National Diploma in Quantity Surveying & the Built Environment-QS 501-Management Accounting and Procedures-H2
How much revenue should the firm recognize in the month of March assuming the firm uses the earnings approach to revenue recognition?
What are marketable securities and how do you recognize when there are marketable securities? I have trouble understanding the concept of them.
Time Warner Inc. reported short-term deferred revenue of $1,497 million and $1,731 million as of December 31, 2004 and 2003, respectively. For the year ending December 31, 2004, Time Warner reported total revenues of $42,089 million.
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