What must be the face value of each note

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Reference no: EM132063461

1. Monsanto, Inc. harvests crops in roughly 90-day cycles based on a 360-day year. The firm receives payment from its harvests sometime after shipment. Due in part to the firm's rapid growth, it has been borrowing to finance its harvests using 90-day bank notes on which the firm pays 10 percent discount interest. If the firm requires $100,000 in proceeds from each note, what must be the face value of each note?

A. $101,009

B. $101,203

C. $102,564

D. $104,896

E. $107,743

2. The following information is from the noncurrent asset portion of Randle Company’s balance sheet. December 31 2013 2012 Property, plant, and equipment $140,000 $125,000 Accumulated depreciation (69,500) (57,000) Long-term investments 27,000 15,000 The following activities occurred during 2013:

Sold equipment with an original cost of $8,000 and a book value of $2,500 for $2,000 cash.

Depreciation expense for the year totaled $18,000.

Purchased property for $23,000 cash.

Purchased long-term investments for $12,000 cash.

What is the amount of cash used by investing activities?

$27,000

$51,000

$33,000

$14,500

None of the answer choices is correct.

Reference no: EM132063461

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