If a note provides for payment of principal of $85,000 and interest at the rate of 6%,
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
The interest will amount to 5100 only if the note is payable one year ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Accounting questions
-
If a note provides for payment of principal of $75,000 and interest at the rate of 8%, will the interest amount to $6,000? Explain.
-
If a note provides for payment of principal of $75,000 and interest at the rate of 8%, will the interest amount to $6,000? Explain. Discuss.
-
If a note provides for payment of principal of $90,000 and interest at the rate of 7%, will the interest amount to $6,300? Explain.
-
For rigid-body motion, the strains will vanish. Under these conditions, integrate the straindisplacement relations (7.6.1) to show that the most general form of a rigid-body motion displacement field...
-
The molecules Have the same molecular formula (C3H8O) but different normal boiling points, as shown. Rationalize the difference in boiling points? (b) Ethyl methyl ether (a) Propanol 97.2C 10.8 C
-
What are the special rules for gains or losses on sales to related parties?
-
Pharmaceutical Company manufactures one of the most widely used diabetes medicines in the United States and Asia. Recently, the Food and Drug Administration has received an increased number of...
-
OfficePlus sells its main product, ergonomic mouse pads, for $12 each. Its variable cost is $5.20 per pad. Fixed costs are $205,000 per month for volumes up to 65,000 pads. Above 65,000 pads, monthly...
-
Mr. Mutwiri opened a business in Meru town at the beginning of the year. During the first month of operation the following transactions were completed. 2014. January 1 Deposited sh 20,000 in the bank...
-
Hi-T Company uses the weighted average method of process costing. Information for the companys first production process follows. All direct materials are added at the beginning of this process, and...
-
Neptune Company issued a note receivable to Sailfish Company. (a) Who is the payee? (b) What is the title of the account used by Sailfish Company in recording the note?
-
The maker of a $240,000, 6%, 90-day note receivable failed to pay the note on the due date of November 30. What accounts should be debited and credited by the payee to record the dishonored note...
-
What are two common accounting software systems used by small businesses?
-
The grapevine is a supplement in an organization where formal communication does not work. The grapevine creates a sense of unity among the employees who share and discuss their views with each...
-
Why should you not wait until project completion to perform the Close Project activities? Also, list at least five pitfalls to avoid. Using The Wall Street Journal or other scholarly source, research...
-
Why is entropy as defined for discrete random variables not very useful for continuous random variables? What is quantization and why must there always be a trade-off between quantization accuracy...
-
Why was it so important that Mr. Sharma restrict his water intake when he went home? What would happen if he did not limit his water intake? If Mr. Sharma found water restriction too difficult, his...
-
Why did Meghan have galactorrhea (increased milk production)? Why were her menstrual cycles irregular? What was the significance of her luteinizing hormone (LH) level? What drug was Meghan given to...
-
Solve the differential equation with the given initial condition. dy dx = 4x, y(1) = 4
-
Periwinkle Company is a multinational organization. Its Parts Division is located in Lavender Land, while its Assembly Division is located in North Orchid. During the current year Periwinkle Companys...
-
When is a capital expenditure proposal acceptable to a business?
-
Financial data for Bonita Company are shown below. For Year Ended December 31, 2014 Cash on December 31, 2014 ...$ 187,180 Cash flow from operations ......(458,400) a. Compute the ratio of cash to...
-
Madonna Epstein has recently been hired as the manager of Beans Coffee Shop. Beans Coffee Shop is a national chain of franchised coffee shops. During her first month as store manager, Madonna...
-
Ramona's Clothing is a retail store specializing in women's clothing. The store has established a liberal return policy for the holiday season in order to encourage gift purchases. Any item purchased...
-
I need to find out how to calculate the 3-year % rate of return. The information I have is a $10,000 investment and a 12-month yield percentage (1.138 for AB company, 1.894 for AIG company, 0.679 for...
-
Anna has an investment that will bring her $100 with a 30% probability and $40 with a 70% probability. Anna's Utility function is U = Y (1/2) . Where Y= income. Anna is considering selling this...
-
on January 1, 2000, the price of koka kola was $10. on jan and, 2020, the shares were worth $100. the stock Paid no dividends during the period. what is the annual geometric return.
Study smarter with the SolutionInn App