User Account

All Pages

What is the amount leslie smith repays

Assignment Help Accounting Basics
Reference no: EM131756817

Question: Find the bank discount and proceeds using ordinary interest on an unsecured promissory note made to Leslie Smith for $12,000 at 7% annual simple interest from June 15 to September 15 for this year. Use the steps below to find your answers.

a) Explain the difference between a simple interest note and a simple discount note.

b) Exact time (days) of note: __________

c) What is the bank discount?

d) What are the proceeds that Leslie Smith receives?

e) What is the amount Leslie Smith repays?

Reference no: EM131756817

Questions Cloud

Draw a plausible graph of the distribution of birth months : Birth months Imagine asking a random sample of 60 students from your school about their birth months.
Consumer price index in the base year : Assume year one to be the base year: The consumer price index in the base year is equal to________. The approximate consumer price index in year two is equal to
Describe network externality : 1. Briefly, describe monopsony (provide a real life example) 2. Briefly, describe network externality (provide a real life example)
Prepare responsibility report for the manufacturing overhead : Prepare a responsibility report for the manufacturing overhead for March, assuming only variable costs are controllable
What is the amount leslie smith repays : Find the bank discount and proceeds using ordinary interest on an unsecured promissory note made to Leslie Smith for $12,000 at 7% annual simple interest.
Define it priorities and governance for it : Define IT priorities and governance for IT. Without priorities and a process for IT governance in place, progress will be slowed.
The development of new laws or public policies : Describe two important elements of data presented on the charts/graph and briefly interpret each data element - Explore how the social phenomena discussed
Which of the following statements is most accurate : A financial analyst has forecasted 2017 financial statement of firms A, B, C and D and used them to make these cash flow estimates.
What other types of changes can innovation spark : How the rate of innovation can change organizations as well. In addition to opportunities, what other types of changes can innovation spark?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the budgeted unit sales for september

Ending inventory of finished goods for each month is budgeted to be 30% of the next month's budgeted sales in units. Calculate the budgeted unit sales for September.

  Techmaster is an information technology it consulting

tech master is an information technology it consulting company offering services to small firms. techmaster bills

  Discussion analyzing the flexible budget

Do you agree with the president? Why or why not? Explain your point - where were costs in line and where were they out of line?

  Pam erickson construction company changed from the

pam erickson construction company changed from the completed-contract to the percentage-of-completion method of

  Actual cash received from cash sales

The actual cash received from cash sales was $11,279, and the amount indicated by the cash register total was $11,256.

  Distinguish between exchange and nonexchange transactions

Identify and describe the four eligibility requirements for a government to recognize revenue in a nonexchange transaction.

  Differences between a general fund and a special revenue fun

What are some similarities and differences between a General Fund and a Special Revenue Fund?

  Prepare an incremental analysis schedule

RSW Company manufactures 17,000 units of wheel sets for use in annual production. Prepare an incremental analysis schedule

  Berg company adopted a stock-option plan on november 30

berg company adopted a stock-option plan on november 30 2011 that provided that 70000 shares of 5 par value stock be

  Compute the cost of goods sold and ending inventory

Compute the cost of goods sold and ending inventory, assume (1) is LIFO, LIFO cost flow (2) LIFO cost flow. And (3) weighted average.

  Identify the type of organizational structure

Identify the type of organizational structure. How does the structure create an environment of support for client-centered care?

  In may 2011 french real estate company issued convertible

q. in may 2011 french real estate company issued convertible bonds with a total face value of 480 million. each 1000

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