What will the payment be in five months

Assignment Help Accounting Basics
Reference no: EM13824734

Problem-

CompuSystems was supposed to pay a manufacturer $19,000 four month ago and another $14,000 two months from now. CompuSystems is proposing to pay $10,000 today and the balance in 5 months, when it will receive payment on the major sale to the provincial government. What will the payment be in five months if the manufacturer requires 18% compounded monthly because the account is overdue?

Additional information-

This problem belongs to Accounting and it discuss about calculation of compounded monthly interest for an overdue account.

Reference no: EM13824734

Questions Cloud

Calculation of semi-annually compounded government bond : This problem belongs to Basic Accounting problems and it discuss about calculation of semi-annually compounded Government bond
Discuss the principle components of a typical compensation : Discuss how an effective compensation and benefit system contributes to organizational effectiveness. Discuss the principle components of a typical compensation and benefit system for a large-scale organization.
Calculation of operations of cookie making company : Calculation Of Operations Of Cookie Making Company
Calculate compounded monthly interest for mortgage loan : The problem belongs to Accounting and it discusses about calculation of principal balance and compounded monthly interest for mortgage loan
What will the payment be in five months : This problem belongs to Accounting and it discuss about calculation of compounded monthly interest for an overdue account
Conviction for homicide under survival conditions : Three men and a boy were shipwrecked in a small boat 1500 km at sea in the South Atlantic.  What little food they had was exhausted within a few days.
Calculation of restaurant capacity : Calculation Of Restaurant Capacity
Determine the key components of supply chain management : Determine the key components of supply chain management for the company you have selected. Determine three major issues that could affect the structuring, sourcing, purchasing, and the supply chain of your organization.
The hr department in a large company : What should be indicators for measuring the effectiveness of the HR department in a large company?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Segmented income statement vogel co produces three models

segmented income statement vogel co. produces three models of heating and air conditioning thermostat components. the

  Allen co purchased land as a factory site for 80000 the

allen co. purchased land as a factory site for 80000. the process of tearing down two old buildings on the site and

  Calculate balances for each of the t-accounts

Calculate balances for each of the t-accounts and then prepare an adjusted trial balance as of December 31, 2012.

  Identify long-term factors

MBA 640 Exam 1: Spring 1, 2014:  Determine whether Deep Blue should accept this special sales order. Identify long-term factors Deep Blue should consider in deciding whether to accept the special sales order.

  Cyprus corp has excess capacity under what situations

cyprus corp. has excess capacity. under what situations should the company accept a special order for less than the

  Compute both direct labor cost and direct materials cost

victory company uses weighted-average process costing to account for its production costs. direct labor is added evenly

  Assume that last year 2011 a amp a products had a net

assume that last year 2011 a amp a products had a net operating loss of50000 and for this problem a amp a products

  Alice gibbons owns and operates alices abstracting service

alice gibbons owns and operates alices abstracting service. alices two revenue generating operations are supported by

  Net short-term capital gain

During 2010, Gorilla Corporation has net short-term capital gains of $120,000. Net long-term capital losses of $365,000, and taxable income from other sources of $900,000. Prior year's transaction included the following:

  The management of idaho corporation is considering the

the management of idaho corporation is considering the purchase of a new machine costing 430000. the companys desired

  Audits of financial statements and compliance audits

Identify what the differences and similarities are, in audits of financial statements, compliance audits, and operational audits.

  Statement of comprehensive income

A statement of comprehensive income does not include: A) Gains resulting from the return on assets exceeding expectations. B) Gains and losses on unsold held-to-maturity securities. C) Losses resulting from the return on assets falling short of expec..

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