You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate on a one-year loan. What is the effective interest rate if the loan is a discount loan? * Format: 1.11%
Q: Remy opened her Tours4Fun business. During the first month, January, she completed the following tra...
A: Pencil footing the ledger means the total balance of both side of ledger. After pencil footing balan...
Q: The use of standard costs in pricing and budgeting is quite valuable since decisions in the fields ...
A: Standard cost is the cost which is predetermined and which is expected to be incurred during the yea...
Q: 00 for follow-up visits with his doctor. He also paid $550 for prescription medicine and $600 to a p...
A: Itemized deductions refer to the form of deduction or expense which is subtracted from the adjusted ...
Q: Grill's Floori Allowance f receivable cchedu Hule of
A: These are the accounting transactions that are having a monetary impact on the financial statement o...
Q: What is National's estimated annual usage in units? * Format: 1,111,111 National Co. has determined ...
A: Order size (Q) = 10,000 units Total order cost in year (TC) = P20,000 Cost per order (O) = P100
Q: The bookstore manager wants to determine the bookstore's optimal order quantity, given the foregoing...
A: Details Available Cost per Piece= 1900 Annual Requirement = 1700 pieces Carrying Cost = 25% of pu...
Q: Activity 1- ACCHT 221 - RECORDING TRANSACTIONS ; POSTING TO LEDGER AND PREPARATION OF TRIAL BALANCI ...
A:
Q: P company bought 60% of common stock of S company on January 1, 20x4. On January 1 20x5, there was a...
A: Net income means deducting all the expenses (Costs) allowances and taxes of an individual are known ...
Q: 16. What is the balance of the accounts receivable after pencil footing the ledger? 38,000 debit O 1...
A: Accounts Receivable It is a money due to a firm for goods or services delivered or used but not yet ...
Q: What type of variances are computed for materials, labour, and factory overhead
A: material variance = standard cost - actual cost of materials. types 1.Material Price Variance: MPV =...
Q: Many governments budget on the cash basis. Explain why a government would budget on a cash basis rat...
A: The cash basis is a major accounting method that recognizes revenues and expenses at the time cash i...
Q: Depreciation charged in costing books is ? 12,500 and in financial books is ? 11,200. What will be t...
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as D...
Q: ABC Corporation’s liability account balances at June 30, 2018, included a 10% notes payable in the a...
A: What amount should be recorded as accrued interest for this note:- Accrued interest:- = outsta...
Q: • 4. Compute the present value and future value of P200 cash flow for the following combination of d...
A: Present Value Meaning Given a certain rate of return, present value (PV) is the current value of a f...
Q: Lukas Douglas' filing status is married filing separately, and he has earned gross pay of $2,100. Ea...
A: Earned gross pay = $2100 Contribution = 11% x 2100 = $231 Flexible pay spending = $80 Gross pay af...
Q: to conduct a marg inal cos nefits of the proposed ne
A: Answers a,b and c:
Q: What are: Relevant / irrelevant / Differential Costs Relevant / irrelevant / Differential Revenues...
A: Relevant / Irrelevant / Differential Costs: Relevant Costs are the cost which are relevant in decis...
Q: 10.Pirates PLC sells a line of goods under a six-month warranty. Any defect arising during that peri...
A: Provision is reserve which helps to cover the loss if an expected loss happen in future. The calcula...
Q: How can i influence Ownership Costs, Operating costs, Acquistion costs and why?
A: Assets: An asset is financial worth that an individual, company, or nation claims or controls with t...
Q: Shown below are the unit information and a summary of the costs charged to a production department o...
A: To ascertain the costs of finished goods and ending work-in-progress, we need to calculate the equiv...
Q: to the nearest integer.) More info Corporate Tax Rate Schedule Taxable income brackets Base tax $o t...
A: Marginal tax rate refers to the extra tax paid for every extra dollar gained by an entity.
Q: FIFO METHOD On 1 August L&T Co. had a balance in inventory of 120 units at AED14.25 per unit. The fo...
A: The cost of goods sold include the total cost of goods that are sold during the period. FIFO stands ...
Q: Interest versus dividend income Depot Logistics Inc. has declared pretax income from its operations ...
A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for yo...
Q: nearly $2.00 per share over the past 9 months. Loren indicated that she shared Dale's frustratio Nge...
A: Shareholders' wealth maximization should be the prime objective of the management over profit maximi...
Q: Partners A and B receive a salary allowance of $35,000 and $45,000, respectively, and share the rema...
A: Salary allowance : Partners A = $ 35000 Partners B = $ 45000 Share = Equally Company earned = $ 5000...
Q: Sales Operating income Invested capital $8,100,000 648,000 9,000,000 In an effort to make something ...
A: Return on Investment=Operating IncomeInvested Capital×100
Q: Journalize the following merchandise transactions, using the net method under a perpetual inventory ...
A: Merchandise Inventory: Products that a firm acquires with the intention of reselling to clients at a...
Q: The following events occurred in Fresh Cleaning Company in December 2021: (1) A customer has purchas...
A: The main objective of any set of accounting standards appears to be to ensure that a company's finan...
Q: Feather Friends, Incorporated, distributes a high-quality wooden birdhouse that sells for $20 per un...
A: Break even point = Fixed expenses / Contribution margin ratio where, Contribution margin ratio = Con...
Q: Precision Camera Services started the year with total assets of $120,000 and total liabilities of $4...
A: Stockholders' equity, also spelled shareholders' or shareholders' equity, is the amount of assets pa...
Q: *Computed on the basis of sales dollars. Since the start of development work on the Wireless Wizard,...
A: Unit contribution margin is the excess of the selling price per unit over variable cost per unit.
Q: The partnership of Chase and Chloe shares profits and losses in a 70:30 ratio respectively after Chl...
A: Remaining income allocation = Total income - Salaries
Q: Tanner and Teresa share income and losses in a 2:1 ratio (2/3 to Tanner and 1/3 to Teresa) after all...
A: Income and losses sharing ratio = 2:1 Salary allowance of Tanner = $ 45000 Salary allowance of Teres...
Q: Required: Prepare the company's budgeted income statement for the year.
A: Income statement refers to a statement which shows the revenue and expense of the company of a parti...
Q: What amount of loss should DEF accrue at December 31, 2021?
A: Contingent liability refers to those liability of a company which is occurred due to the result of a...
Q: 3. A certain office equipment has a first cost of P20,000 and a salvage value of P1,000 at the end o...
A: Since you have asked multiple question, we will solve the first question for you. If you want any ...
Q: The balance in ABC Company's accounts payable account at December 31, 2021, was P900,000, before any...
A: Accounts Payable: Accounting for accounts payable (AP) is the collection of money owed to vendors a...
Q: Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. S...
A: Penalty is the amount of interest paid for the delay in the payment in tax amount.
Q: 4. Which of the following statements are true regarding Donato's possible response to the ethical co...
A: Ethical Conflict- Ethical conflicts occur when persons are confronted with a conflict between univer...
Q: Rushton Corp., a wholesaler of music equipment, issued $11,000,000 of 20-year, 9% callable bonds on ...
A: >Bonds Payable are the source of finance for the companies. >The bondholders are entit...
Q: When an investment ceases to be an associate, the fair value of the investment at the date when it c...
A: When an investment ceases to be an Associate and is accounted for in accordance with IFRS 9. As per ...
Q: Kam Company purchased a machine on January 2, 2019, for $20,000. The machine had an expected life of...
A: The question is based on the concept of Depreciation Accounting. Depreciation is the reduction in th...
Q: For 2020, Ross Corporation had pretax ordinary income of $500,000 and sold for $150,000 an asset pur...
A: Tax Rate for Companies in US for FY 2020 is Flat 21 % Therefore Tax on ($500,000 +$25,000 ) = $525,0...
Q: Illustration 1. Measuring Goodwill/Gain on Bargain Purchase On January 1, 2021, Amahan Co. acquired ...
A: Business acquisition is an act of buying the business of another company either way full interest or...
Q: You are buying a machine with a down payment of $200,000 and annual payments of $40,000 per year for...
A: The present value of all cost is the net cost of all cost including the down payment and all cost an...
Q: (ii) The company has two deliver trucks and uses the units of production method to compute the depre...
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-part...
Q: e Collection period 21.9
A: Average collection period is the average time after which collections are being made by debtors.
Q: The following data refer to various annual costs relating to the inventory of a single-product compa...
A: Given that: Freight on Purchase = P0.20 Storage per unit = P0.12 Insurance per unit = P0.10 Alternat...
Q: QUESTION 9 Put the following steps in an Activity-Based-Costing system in the proper order. v Calcul...
A: Cost Accounting: Cost accounting is characterized as "a methodical arrangement of methodology for re...
Q: data below please complete a P&L Account Opening Stock - £800,000 Depreciation - ...
A: At first case the income statement is prepared to you know the net profit of the company. this show...
1
Step by step
Solved in 2 steps
- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $34,000 and the interest rate is 9.50%, the borrower “pays” 0.0950 × $34,000 = $3,230 immediately, thereby receiving net funds of $30,770 and repaying $34,000 in a year. A. What is the effective interest rate on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) B. What is the effective annual rate on a 1-year loan with an interest rate quoted on a discount basis of 19.50%? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)If you borrow $1,000 at 8.5% simple interest and the loan requires a lump sum payment of $1,213.16, what is the term of the loan? (Round your answer to the nearest whole number.)t = days
- A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one month.If a person accepts the offer, what is the nominal interest rate per year? O a. 60% O b. 6% O c. 50% O d. 5%Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest rate of 6.0%. a) What is your monthly payment? N: months I %: P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12 b) Of the first month's mortgage payment, how much is interest? HINT: I=Prt Interest: I=$ c) Of the first month's mortgage payment, how much is applied to the principal? HINT: PMT - Interest Amount Applied to Principal: $ d) How much is your outstanding balance after the first month’s payment? HINT: Principal - Amount Applied to Principal Outstanding Balance after first payment: $How much is your loan payment based on the following: Time - 5 years Interest Rate - 5.8% Principle Balance - $28,000 Assume the interest rate is an APR. If needed, the discount rate is 4.2%.
- A lender makes a loan of $100,000 at a 6% interest rate for 25 years with monthly payments. The lender will require an origination fee of $1,000 and will also discount the loan by some amount. Suppose the lender discounts the loan by the amount calculated in the last question. What is the annual percentage rate (APR) on this loan? a. 5.45% b. 6.00% c. 6.11% d.6.20% e. 6.65% Assume the borrower repays the loan after 8 years. What is the effective borrowing cost (EBC) on this loan? a. 6.10 b. 6.17 c. 6.33 d. 6.50 e. 6.84You apply for a loan of $79,000 with the following terms: a seven-year loan with semi-annual payments of $7,700 (at the end of period payments). Based on this information, what is the APR of the loan Bank Y offers you? 8.74% 8.42% 8.57% 9.02% 8.89%You plan to borrow $33,100 at a 7.0% annual interest rate. The terms require you to amortize the loan with 7 equal end-of- year payments. How much interest would you be paying in Year 2? O a. $2,077.39 b. $2,049.26 c. $6,141.81 d. $2,317.00 e. $5,740.01
- You plan to borrow $40,100 at a 6.9% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2? O a. $2,446.20 O b. $2,479.22 O c. $2,766.90 O d. $6,936.17 O e. $7,414.76You are given the option to borrow P5,000 you need for one year. Which of this will you pay lesser interest. To borrow from a friend at an interest rate of 1.5% month or a loan from a bank at a rate 18% per year?k-You borrow $5,000 fixed payment loan. What will be the fixed payment if you want to payoff the loan in 4 quarterly payments? The quarterly rate is linked with Loan Prime Rate (LPR). The annual LPR is 12%. How much will be the total interest payment made by you?
