Calculate the interest rate for a promissory note with the following information: ⚫ Principal = $5,000 • Term = 90 Days • • Interest = $125 Use 360-day year
Q: I need this question answer general Accounting
A: Step 1: Define Actual CostThe expenses incurred during the tenure of production. In other words, it…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Net IncomeNet income is the total profit of a company after deducting all…
Q: account
A: To calculate the equivalent units of production (EUP) for conversion costs using the weighted…
Q: Do fast answer of this accounting questions
A: The predetermined overhead rate is calculated using the formula: Predetermined Overhead Rate =…
Q: Global manufacturing reported an ebitda solve this accounting questions
A: Step 1: Definition of Depreciation and Amortization ExpenseDepreciation and amortization expense…
Q: I need solution
A: To calculate the total cost accounted for, use the following formula: Total Cost Accounted For =…
Q: I need this question answer general accounting
A: APR = No. of periods*((1+EAR)^(1/No. of periods)-1) APR = 12*((1+6.43%)^(1/12)-1) APR = 6.25%
Q: Calculate the ending inventory for the following cost flow assumption: LIFO.
A: Using LIFO perpetual inventory method, the most recent purchases are sold first so the ending…
Q: I need answer of this accounting questions
A: Step 1: Definition of High-Low MethodThe high-low method is a technique used to separate fixed and…
Q: Expert solve the problem
A: Explanation of Gross Profit: Gross profit is the amount remaining after subtracting the cost of…
Q: Please provide this question solution general accounting
A: Approach to solving the question: For better clarity of the solution, I have provided both the…
Q: What is the value of ending inventory using the variable costing method? General accounting
A: Step 1: Define Variable Costing MethodAs the name suggests, in the variable costing only the…
Q: Solve this question general Accounting
A: Step 1:First calculate the product cost per unit under absorption costing: Product cost per unit =…
Q: Need help with this question solution general accounting
A: To calculate the breakeven point in units of Alpha, we'll follow these steps:1. Relationships…
Q: Need answer the financial accounting question
A: Step 1: Define Effective Interest RateThe effective interest rate can be a useful tool to analyze…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Present ValueThe present value (PV) is the current worth of a future amount of…
Q: What is the value of ending inventory, assuming the use of direct costing?
A: Step 1: Define InventoryInventory is the item that the company uses in the production process to…
Q: Southern Atlantic Distributors began operations in January 2011 and purchased a delivery truck for…
A: Explanation: Note: As instructed by the question, all dollar amounts are in thousands. The pretax…
Q: Please Solve Accounting question
A: Step 1: Determine the Temporary Difference Step 2: Calculate Current Tax Payable Step 3: Calculate…
Q: General accounting
A: Step 1: Define ExpensesExpenses are incurred by a business in order to generate revenues and as per…
Q: Don't use ai given answer accounting questions
A: To calculate the maturity value of the note, use the formula: Maturity Value = Principal +…
Q: Cost of goods sold is a variable cost in this company
A: Concept of Sales Revenue:Sales revenue refers to the total amount of money a company generates from…
Q: I need this question financial accounting
A: Step 1: Define Cost Of Common EquityThe cost of common equity is one of the main financing cost…
Q: Please provide this question solution general accounting
A: The gain or loss on sale is calculated as follows: Gain (loss) on sale = Sale value - Book value…
Q: Sanchez company's output for the current period solve this question general Accounting
A: To determine the actual total direct materials cost, we use the formula: Actual Cost = Standard Cost…
Q: Expert solve the question financial accounting
A: Step 1: Define Financing Working CapitalOne of the strategies used by a firm to finance its capital…
Q: Solve the problem
A: Explanation: In the given case, we are required to calculate the equivalent cost per unit for labor…
Q: provide correct solutions
A: To calculate the equivalent units of production (EUP) for direct materials and conversion costs…
Q: Retained Earning??
A: Explanation of Retained Earnings:Retained earnings represent the accumulated net income of a company…
Q: The Ivam Department transferred 6,000 units to the finished goods storeroom for a month. There was…
A: Explanation of Work in Process (WIP): Work in Process represents units that have started production…
Q: The accounts receivable balance is?
A: Explanation of Accounts Receivable Balance:This represents the total amount of money owed to a…
Q: ????
A: To calculate the average fixed cost, we need to first determine the total fixed cost.Total Fixed…
Q: Subject is General Account [05] On March 1, 2019, Annapolis Company has a beginning Work in Process…
A: Step 1: Equivalent Units of Production (EUP) for ConversionSince all units were started during the…
Q: None
A: To calculate the unit cost, you need to sum up all the costs and then divide by the number of units…
Q: I need this question answer general accounting question
A: Step 1: Define Target SalesDetermining the target sale in order to generate the desired amount of…
Q: A company has net working capital solve this general accounting question
A: To calculate how many dollars worth of sales are generated from every $1 in total assets, we need to…
Q: Jolly Company has the following budgeted sales in units for the next three months: Budgeted Sales in…
A: Step 1: Key InformationBudgeted Sales in Units:May: 2,900 unitsJune: 6,300 unitsJuly: 4,100…
Q: Provide correct answer general Accounting
A: Step 1: There are two methods to calculate the product cost per unit i.e., variable costing and…
Q: The indirect cost allocation rate must have been? General accounting
A: Step 1: Define Allocating Manufacturing Overhead CostsThe total costs incurred by a manufacturing…
Q: Give me answer ✅
A: Explanation of Variable Costs:Variable costs, which include materials ($4,080) and hourly labor…
Q: ANSWER THIS ACCOUNTING QUESTION
A: Concept of Fixed Overhead CostsFixed overhead costs are indirect costs that do not vary with…
Q: Que. - On March 1, 201, Dorchester Company's beginning work-in- process inventory had 10,000 units.…
A: Step 1: Understand the Weighted Average MethodUnder the weighted average method:The EUP for…
Q: Do not use ai please given answer financial accounting
A: To calculate the fair value of the investment, you can use the formula for the present value of a…
Q: Differential Chemical produced 18,000 gallons of Preon and 39,000 gallons of Paron. Joint costs…
A: Step 1: To calculate the portion of joint costs to be allocated to Preon if the value basis is used…
Q: Sagehen Enterprises reports pretax financial income of $80,000 for 2012. The following cause taxable…
A: Taxable Income and Income Tax Payable Calculation1.Start with Pretax Financial Income:Pretax…
Q: Jacoby Company received an offer from ab
A: Differential revenue refers to the additional revenue generated by accepting a particular offer or…
Q: Subject:- General Account
A: Step 1:Under the lower of cost or market method, the inventory is valued at lower of cost or market.…
Q: Financial accounting
A: Step 1: Define Cash Account BalanceThe cash account balance represents the net amount of cash…
Q: Given correct answer general Accounting
A: Step 1: Define Income TaxGovernments levy income taxes on persons generating income within their…
Q: Please give solution to this Question
A: Step 1:To calculate the overhead assigned to a unit of output, the predetermined overhead rate based…
Given answer accounting questions
Step by step
Solved in 2 steps
- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?Complete the next line of the schedule. 
- Calculate the amount of interest to be charged on a $12,000, 8.5%, 90-day interest-bearing note.Compute interest and find the maturity date for the following notes. (a) date of note: June 10 Principal: $80,000 Interest Rate: 6% Term: 60 days (b) Date of Note: July 14 Principal: $50,000 Interest Rate: 7% Term: 90 days (c) Date of Note: April 27 Principal:$12,000 Interest Rate: 8% Term: 75 daysGiven the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)
- You are told that a note has repayment terms of $1,700 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, eg. 5,275.25.) Total payment for principal Total interest Determine if the total interest will be higher or lower than with an annual payment. The total interest will be than with an annual payment.A non-interest bearing note has a face value of $3000. The note is due 96 days from today. Money is currently worth 8% per annum. Find the present value of the note. Select one: a. $2938 b. $3063 c. $2778 d. $2923Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464
- Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment 6.7% $468.39 Fill out the amortization schedule below. Interest Paid $42.28 Annual Interest Rate 6.7% Interest Paid $42.28 $ (Round to the nearest cent as needed.) Payment $468.39 Paid on Principal $426.11 Paid on Principal $426.11 $ Balance $7,150.14 Balance $7,150.14 $Compute the size of the final payment for the following loan. Principal $ Periodic Payment $ Payment Period Payment Made at: Interest Rate % Compounding Period 8100 520 3 months beginning 8 quarterly The size of the final payment is $_ .?Give correct calculation