Calculate the maturity value of the note

Assignment Help Cost Accounting
Reference no: EM133005227

Questions - Using annuity formulas

1) A $20,000 promissory note is issued on June 12 for a five-month term carrying an annual interest rate of 5.5%. Calculate the maturity value of the note.

2) Your company paid an invoice five months late. If the original invoice was for $6,450 and the amount paid was $6,948.48, what monthly compounded interest rate is your supplier charging on late payments?

3) Determine the proceeds of the sale on a six-year interest-bearing promissory note for $5,750 at 6.9% compounded monthly, discounted two years and three months before its due date at a discount rate of 9.9% compounded quarterly.

Reference no: EM133005227

Questions Cloud

What is the most this investment is worth today : You are offered an investment that will return you three $7,000 payments. What is the most this investment is worth today
What is the annual savings in inventory costs : What is the annual savings in inventory costs to Woden Furniture Ltd, if it was to change its current order lot size of 2,250 to the economic order quantity
Describe and compare five application of fund : Question - Describe and compare five (5) application of fund theory-based financial statements as compared to fund accounting-based financial statements
Which of the statements is correct : The historical cost of the equipment is 36,000. The partners share in profits and losses equally. Which of the following statements is correct
Calculate the maturity value of the note : A $20,000 promissory note is issued on June 12 for a five-month term carrying an annual interest rate of 5.5%. Calculate the maturity value of the note
Make journal entries to record all of the events : On March 10, 2022, the company sold all of its remaining treasury shares for $13 per share. Make journal entries to record all of the events
What is the risk profile of each of these assets : You have $5,000 to invest for the next year and are considering four alternatives:
Calculate the economic order quantity : The cost per box is US $ 3 and a cost of US $ 20 is incurred each time a purchase order is placed. Calculate the Economic order quantity
Prepare the summary journal entry : Prepare the summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales)

Reviews

Write a Review

Cost Accounting Questions & Answers

  What portion of the total contract price

Same facts as those shown on page 1139 except that Hamilton uses the cost-recovery method of accounting, what portion of the total contract price would be recognized as revenue in2013?

  Evaluate the cash flows from operating activities

Compute the cash flows from operating activities under the indirect method.

  Calculate income for bottle division and cologne division

The Alfonso Company has used market-based transfer prices in the past. Calculate the income for the bottle division, the cologne division and the corporation.

  What would the cash receipts be for june

Management estimates that 5% of credit sales are not collectible and of the credit sales that are collectible, 60 % are collected in the month of sale

  What will be dividend payout ratio for the current year

Rs. 1000 crores during the accounting year 2019-20 and it follows a residual dividend payout policy, what will be its dividend payout ratio for the current year

  Compute the equivalent units for materials using FIFO

Ending inventory (materials are 10 percent complete; conversion costs are 20 percent complete). Compute the equivalent units for materials using FIFO

  Determine the capital balances of A and B

A P 60,000 B 120,000 C 180,000 The partners agreed on a capital ratio of 1:2:3 upon formation and P&L ratio of 3:3:4, Determine the capital balances of A and B

  Compute amount of underapplied or overapplied overhead cost

Compute the amount of under applied or over applied overhead cost for the year - Prepare a schedule of cost of goods manufactured for the year.

  Calculate the total number of hours needed

Product X requires a total of 15,000 hours and the company's total overheads amount to N$800,000. Calculate the total number of hours needed to produce product

  Nakashima gallery had the following petty cash

Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $ 400 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier.

  How activity-base costing affect cost-volume-profit analysis

Explain briefly how activity-based costing (ABC) affects cost-volume-profit analysis. Give examples of how an ABC system can result in more reliable products costs than conventional labor-based product costing system.

  Find the annual cost of the inventory policy is

Find The annual cost of the inventory policy is. Specialty Manufacturing requires 5 400 gadgets per year for production. The firm decides to order 120 gadgets

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd