User Account

All Pages

Compute the cash proceeds from the discounted note

Assignment Help Accounting Basics
Reference no: EM132570135

Question - A company received in payment for merchandise sold an interest-bearing note with a face amount of $1,000, an annual interest rate of 16 percent, and a term of six months. The company sold this note to a local bank, at a discount rate of 15 percent, when the note had 60 days remaining to maturity. Compute the cash proceeds from the discounted note amounted (assume 360 days per year)?

A. $1,080

B. $1,053

C. $1,010

D. $975

Reference no: EM132570135

Questions Cloud

Genetic counseling-explain tay-sachs disease : Explain Tay-Sachs disease. Imagine you are a genetic counselor working with a couple who have just had a child who is suffering from Tay-Sachs disease.
Relation between organization and management : Discuss the relation between organization and management.
Goal regarding global interconnectedness : What are the steps you can take to achieve your goal regarding global interconnectedness?
Compare DNA and RNA : Compare DNA and RNA. Discuss similarities and differences. Discuss why humans did not evolve with one central repository of DNA,
Compute the cash proceeds from the discounted note : When the note had 60 days remaining to maturity. Compute the cash proceeds from the discounted note amounted (assume 360 days per year)
What is the amount and character of the march : What is the amount and character of the March 31, 2019 distribution received by Smith?ABC Corp. had accumulated earnings and profits as of January 1
What is the amount distribution received by smith : What is the amount and character of the December 31, 2019 distribution received by Smith? ABC Corp. had accumulated earnings and profits as of January 1, 2019
How much will you pay for the company share : The company pledges to increase its dividend by 5.1% per year, If you require a return of 11% on your investment, how much will you pay for the company's share
What the dec balance in the accounts receivable account is : Randall estimates uncollectible accounts to be 4% of receivables. What the December 31, Year 3 balance in the accounts receivable account is?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Financial impact of buying ct unit

The user has updated the question: User's response: Calculate the financial impact of buying a CT unit that would cost $3.0 million, would have a five-year useful life, would have a 10 percent salvage value.

  A taxpayer is considering buying a fully taxable corporate

a taxpayer is considering buying a fully taxable corporate bond. the bond has a remaining maturity of 5 years promises

  What amount should charge against income

The market under governmental order because of a potential health hazard in the product. What amount should Koll charge against income during 2011, assuming amortization is recorded at the end of each year?

  Compute the project profitability index for each investment

Compute the project profitability index for each investment proposal. (Round your answers to 2 decimal places.)

  Compare random selection and random assignment

Compare and contrast random selection and random assignment. Be sure to include a discussion of when you would want to do one or the other and the possible consequences of failing to do random selection or random assignment in particular situation..

  Here is the deal the offer is 10000 in good quality bonds

here is the deal the offer is 10000 in good quality bonds paying interest at 7. the markek rate of interest for similar

  Which of the techniques is the most useful tool to use

Based on the following information, calculate in Excel and show your work for net present value (NPV), internal rate of return (IRR), and payback.

  Considering the cash flow impact of the equipment as well

xyz company has the option to purchase additional equipment that will cost about 42000 and this new equipment will

  What is the capitalized cost of each of ogdens land

What is the capitalized cost of each of Ogden's land. land improvements. and building and Prepare a schedule of depreciation expense per year for the van under the three depreciation methods.

  Compute the activity rate for each of activity cost pools

Compute the activity rate for each of the activity cost pools, The company has already completed its first stage allocations of costs and has summarized

  Calculate the variable overhead spending variance

Calculate the variable overhead spending variance, Calculate the variable overhead efficiency variance

  How the organization uses the accounting information

How the organization uses the accounting information for financial management improvement recommendations for your organization's accounting system?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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