Calculate the interest for the following assume a 360-day year: a. $12,000 2% 2 years b. $19,000

Question:

Calculate the interest for the following assume a 360-day year:

a.	$12,000	2%	2 years
b.	$19,000	9%	10 months
c.	$7,000	16%	90 days

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

See More Books

Question Posted: Feb 28, 2020 12:26 PM

See More Questions

Calculate the interest for the following. Assume a 360-day year. a. $14,000 3% 2 years b. $20,000 11% 10 months c. $10,500 14% 120 days
Calculate the interest for the following: a. $15,000 2% 2 years b. $22,000 12% 7 months c. $12,000 20% 45 days
Keesha Co. borrows $ 200,000 cash on November 1, 2013, by signing a 90-day, 9% note with a face value of $ 200,000. 1. On what date does this note mature? (Assume that February of 2013 has 28 days.)...
J Lo's Clothiers has forecast credit sales for the fourth quarter of the year September (actual) Fourth Quarter $ $4,000 October Novenber Decenber $ 44,000 39,000 64,000 Experience has shown that 30...
When the conjugate-base enolate of diethyl malonate is treated with bromobenzene, no diethyl phenylmalonate is formed. Explain why bromobenzene is inert. CH (CO,Et)2 + Br" diethyl phenylmalonate
Algeria has a negative trade balance of $7 billion. If it has a positive balance of goods of $10 billion, how much is its balance of services?
Jerome M. Eisenberg is an antiquities dealer and a self-proclaimed expert in classical antiquities with a doctorate in Roman, Egyptian, and Near Eastern art. Maurice E. Hall Jr. is an art dealer who...
Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previous classes as well as the...
Suppose A utility function U(x) = {ax{ +(1-)x2}" with a > 0 and p>0 is defined over the set S = {(x) | xp+x2P2 M} where P, P2 are prices. Prove that if P1, P2 and M are positive, there exists at...
The financial statements of Procter & Gamble Company provide the context for this question which focuses on long-term debt and stockholders equity. This question demonstrates how the concepts in this...
Nicole Co. discounts its own note at a bank. This $58,000 note results in the bank deducting $410 interest in advance. Draw a transaction analysis box for this situation.
On May 15, 201X, Reed Co. gave Fuligin Co. a 180-day, $9,000, 8% note. On July 14, Fuligin Co. discounted the note at 10%. Assume a 360-day year. 1. Journalize the entry for Fuligin to record the...
Air is compressed in an isentropic process from 20C and 100 kPa until the final volume is a) Six times the initial volume, b) Eight times the initial volume, c) Ten times the initial volume,....
The vertical displacement y(x,t) of a string stretched along the horizontal x-axis is given by y(x,t) = (6.00 mm) cos[(3.25 m-1)x - (7.22 rad/s)t]. (a) What is the minimum time for each complete...
Disclosure to educational institutions where a student seeks or intends to enroll, or is currently enrolled, when the disclosure is for a purpose related to the student's enrollment or transfer is an...
Round all dollar amounts to the nearest dollar. Zelda Inc., a calendar-year company, pays its employees every other Friday. Zelda's employees earn $526,000 for each ten-day pay period ($52,600 per...
if the food cost is $4.97 and the food cost percentage is 31.06%, what is the sales price?
You are 30 years of age and wish to retire at 70. Your plan is to live off $90,000/year until you turn 95. Your plan is to save $25,000/year until you turn 70. Assume a 5% opportunity cost. Make a...
In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income...
What do you think?
Match the following categories to each account listed. 1. Current Asset 2. Plant and Equipment 3. Current Liabilities 4. Long-Term Liabilities _____ a. Petty Cash _____ b. Accounts Receivable _____...
a. On January 1, prepare a reversing entry. On January 8, journalize the entry to record the paying of salary expense, $820. b. What will be the balance in Salaries Expense on January 8...
From the following accounts, prepare a cost of goods sold section in proper form: Merchandise Inventory, 12/31/1X, $9,040; Purchases Discount, $860; Merchandise Inventory, 12/01/1X, $4,400;...
describe two ways that environmental laws could affect a business. describe two steps a business should take to manage environmental risk.?
using the this link https://www.epa.gov/laws-regulations answer the following questions : 1) name and explain the purpose/ goal of one major environmental law that is mentioned in chapter 4. (...
"Governments and corporations have fundamentally violated environmental laws and regulations in pursuit for profit." Anonymous. From the class and corporations perspective, critically discuss this...

Calculate the interest for the following assume a 360-day year: a. $12,000 2% 2 years b. $19,000

Question:

Step by Step Answer:

a 4800...View the full answer

College Accounting A Practical Approach

Students also viewed these Business questions