Green Valley Farms plans to borrow $500,000 from a local bank for one year. The nominal interest rate is 8%, but the bank requires a compensating balance of 20%. What is the effective interest rate?
Q: General Accounting Questions # answer
A: To calculate Darwin Company's product costs, we need to identify and sum up all costs associated…
Q: Sooner industries charges a price of solve this question answer general Accounting
A: Calculation of Contribution Margin per unitContribution Margin per unit = ( Fixed Cost + Operating…
Q: None
A: Geisner's Equity:Equity = Total Assets - Total Liabilities= $1,000,000 - $600,000= $400,000…
Q: Need answer the general accounting question not use ai
A: Explanation: The formula to calculate the average no. of days it takes to sell inventory is =…
Q: Give me Answer
A: Concept of Direct Materials:Direct materials refer to the raw materials that are consumed directly…
Q: What was callie's gross profit?
A: Calculation of C's Gross ProfitC's Gross Profit = Net Sales - Cost of Goods Sold…
Q: None
A: Explanation: The formula to calculate Gross profit ratio is as follows:Gross profit ratio = (Gross…
Q: General Account
A: The correct answer is:C. Unfavorable ExplanationVariable manufacturing overhead is applied based on…
Q: Hii expert please provide correct answer general accounting question
A: Step 1: Define Return on Assets (ROA) by SegmentReturn on Assets (ROA) measures how effectively a…
Q: answer this question
A: Explanation of Declining Balance Method:The declining balance method is an accelerated depreciation…
Q: Help general account expert
A: The correct answer is:a. product and direct material cost. Explanation:Aluminum in Soda Can…
Q: I need answer of this accounting questions
A: Step 1: Definitions of Current Ratio: Measures a company's ability to cover its current liabilities…
Q: I need this question answer general Accounting
A: Step 1: Define Free Cash Flow (FCF)Free Cash Flow (FCF) represents the cash available to the company…
Q: What is the amount of capital spending?
A: To calculate the capital spending, we use the following formula: Capital Spending = Ending Net Fixed…
Q: financial account
A: The correct answer is:d. Assets increase $4,700 and liabilities increase $4,700. Explanation:When a…
Q: NO WARONG ANSWER
A: Step 1:First, calculate the book value of the office furniture: Book value = Original cost -…
Q: What is the amount of capital spending on these general accounting question?
A: Step 1: Define Capital SpendingCapital Spending refers to the money a company spends on purchasing…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Pre-determined Overhead RateThe manufacturing overhead cost is estimated at the…
Q: Nicole Corporation's year-end 2019 balance sheet lists current assets of $826,000, fixed assets of…
A: Step 1: Calculation of total assetsTotal assets = Current assets + Fixed assetsTotal assets =…
Q: Congratulations! You are completing the final course of your accounting program. Now, it’s time for…
A: Key Takeaways from This CourseThe course has helped me reinforce advanced accounting practices,…
Q: Novelli's Nursery has developed the following data in order to calculate the lower of cost or net…
A: The Net Realizable Value (NRV) is calculated as the selling price minus the cost to sell. The cost…
Q: Find general account answer
A: Step 1: DefinitionsManufacturing OverheadManufacturing overhead includes indirect costs related to…
Q: What is the actual cost of direct material use ?
A: Step 1: Definition of Actual Cost of Direct MaterialsThe actual cost of direct materials refers to…
Q: NO AI ANSWER
A: Hope this helps
Q: General accounting
A: Step 1: Analysis of information providedNumber of municipal bonds = 750Par value of each bond =…
Q: Kim company plans to sell 10,000 t-shirts at $19.30
A: Explanation of Contribution Margin Per Unit:The contribution margin per unit is the amount left over…
Q: MCQ
A: Step 1: The functional currecny is the currency of the primary economic environment in which the…
Q: Can you please give me correct answer the general accounting question?
A: First, let's identify the revenue sources for that day:Regular sales: 90 burgers × $18 =…
Q: What would be the list price for the recliner?
A: The list price of a product is determined by adding a profit margin to the wholesale price. The…
Q: Please given correct answer general accounting
A: Explanation for a: Income from operations can be calculated using the following formula:Income from…
Q: Sheffield Corp. produces a product requiring 3 direct labor hours at $16.00 per hour. During…
A: Labor quantity variance = (Standard hours allowed - Actual hours worked) x Standard rate per…
Q: Help general account tutor
A: To calculate the cost per unit for Job 145, we need to determine the total cost of the job and…
Q: None
A: Step 1: Define Profit Margin RatioProfit margin ratio also called net margin ratio or net profit…
Q: Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct…
A: Step 1: Direct labor cost Direct labor cost = Direct labor hours x Direct labor wage rateDirect…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Markup PricingMarkup pricing involves setting the price of a product by adding…
Q: Financial Accounting
A: Step 1: Define Pension ExpensePension Expense refers to the annual cost that a company records for…
Q: Q. Financial Account
A: Step 1: Calculate the Cost-to-Retail Ratio (unchanged).At Cost:Beginning Inventory (Cost):…
Q: Boom Lay Corp, has a current accounts receivable balance of $327,815. Credit sales for the year just…
A: 1. Receivables TurnoverThe Receivables Turnover ratio is calculated as: Receivables Turnover=Average…
Q: What was callie's gross profit? General accounting
A: Step 1: Definition of Gross ProfitGross profit is the difference between net sales and the cost of…
Q: The following information was taken from the accounting records of.... Please answer the general…
A: Step 1: Use the Work in Process (WIP) Inventory FormulaStep 2: Substitute the given values into the…
Q: Please give me answer general accounting question
A: To calculate free cash flow (FCF), we use the following formula: FCF=EBIT(1−Tax…
Q: Please solve this following requirements on these general accounting question
A: Step 1: Define Lump-Sum Purchase AllocationA lump-sum purchase allocation is the process of…
Q: general account
A: Step 1: Calculation of Applied OverheadsPredetermined overhead rate = $5 per direct labor hourDirect…
Q: None
A: Step 1: Define Relevant RangeA relevant range is a range of activity levels where the estimation of…
Q: General Account
A: Step 1: First calculate the amount of premium amortization each year: Premium amortization = Total…
Q: Budget variance of opereting income?
A: Step 1: Define Variance AnalysisThe variance analysis of a firm is determined by taking a difference…
Q: Please provide this question solution general accounting
A: The pure interest rate is the real risk-free rate, the theoretical rate of return of an investment…
Q: Please solve this question general accounting
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated…
Q: At October 1, Bonita company reported owners equity of $70,000. During October, the owner made…
A: Explanation: The amount of drawings can be calculated using the formula of calculating the ending…
Q: Do fast answer of this general accounting question
A: Step 1: Define Sales ReturnsSales returns are recorded when customers return products they had…
Quick answer of this accounting questions
Step by step
Solved in 2 steps
- You plan to borrow $10,000 from the bank. For a four-year loan, the bank requires annual end-of-year payments of $3,223.73. What is the annual interest rate on this loan?Suppose you borrow $2,000 from a bank for one year at a stated annual interest rate of 14 percent, with interest prepaid (a discounted loan). Also, assume that the bank requires you to maintain a compensating balance equal to 20 percent of the initial loan value What effective annual interest rate are yo being chargedSuppose that you're planning a vacation and borrow $2,000 from a bank for one year at a stated annual interest rate of 14 percent, with interest prepaid (a discount interest loan). Also, assume that the bank requires you to maintain a compensating balance equal to 10 percent of the initial loan value. What effective annual interest rate are you being charged?
- Zachery Porter of Abilene is contemplating borrowing $10,000 from his bank. The bank could use the add on method to compute borrowing options. Calculate the finance charge and monthly payment for thke following 6.5% and 3 years.Zachary Porter of Abilene, Kansas, is contemplating borrowing $10,000 from his bank. The bank could use the add-on method to calculate different borrowing options. Calculate the finance charge and monthly payment for the following 8%, 5 Years: Finance Charge:A local finance company quotes an interest rate of 17.2% on one-year loans. So, if you borrow $25,000, the interest for the year will be $4,300. Because you must repay a total of $29,300 in one year, the finance company requires you to pay $29,300/12, or $2,441.67 per month over the next 12 months. What is the effective annual rate?
- Zachary Porter of Abilene, Kansas, is contemplating borrowing $10,000 from his bank. The bank could use the add-on method to calculate different borrowing options. Calculate the finance charge and monthly payment for the 6.5%, 3 Years: Finance ChargeThe First Common Bank has advertised one of its loan offerings asfollows: “We will lend you $125,000 for up to 3 years at an APR of 7.5% (interestcompounded monthly).” If you borrow $125,000 for one year, how much interestwill you have paid and what is the banks APY?If you borrow $25,000 from a local finance company and you are required to pay $4,424.50 per year for 10 years, what is the annual interest rate on the loan? a) 12% d) 13.6% b) 18.9% e) 14.4% c) 15.9% How to solve using financial calculator?
- Niagular Corp. needs to take out a one-year bank loan of $450,000 and has been offered loan terms by two different banks. One bank has offered a simple interest loan of 11% that requires monthly payments. The loan principal will be paid back at the end of the year. Another bank has offered 8% add-on interest to be repaid in 12 equal monthly installments. Based on a 360-day year, what will be the monthly payment for each loan for November? (Hint: Remember that November has 30 days.) Value Simple interest monthly payment Add-on interest monthly payment Choose the answer that best evaluates the following statement: Mall Toys Co1 needs to borrow $10,000,000. The company has been offered both simple interest and add-on interest loans. The add-on interest loan has a significantly lower interest rate than the simple interest loan. O The company should accept the add-on interest loan, because it will be paying less money in interest due to the lower interest rate. O The company needs to…A commercial bank is willing to make you a loan of P10,000. The bank wants a 12 percent interest rate and requires five equal annual payments to repay both interest and principal. What will be the dollar amount of the annual payment?You borrow $10,000 from a bank for three years at an annual interest rate, or annual percentage rate (APR), of 12%. Monthly payments will be made until all the principal and interest have been repaid. Solve, a. What is your monthly payment? b. If you must pay two points up front, meaning that you get only $9,800 from the bank, what is your true APR on the loan?