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- You invest $5109.15 in a short-term deposit at 5.17% from June 1, 2019 to December 25, 2019. What will be the maturity value of this investment?Consider the following liabilities of Future Brands, Inc., at December 31, 2018, the company’s fiscal year-end.Should they be reported as current liabilities or long-term liabilities?1. $77 million of 8% notes are due on May 31, 2022. The notes are callable by the company’s bank, beginningMarch 1, 2019.2. $102 million of 8% notes are due on May 31, 2023. A debt covenant requires Future to maintain a currentratio (ratio of current assets to current liabilities) of at least 2 to 1. Future is in violation of this requirementbut has obtained a waiver from the bank until May 2019, since both companies feel Future will correct thesituation during the first half of 2019.1. How much is the impairment loss? 2. What is the AJE to record the loan impairment loss for 2020? 3. What is the carrying value of the loan receivables to be presented in the statement of financial position as of December 31, 2020
- In 2019, Americans spent on average $166 on Valentine's Day which is an increase of 18% from the prior year. What did Americans spend on Valentine's Day in 2018? (Round your answer to the nearest cent)On july 1, 2021 I borrowed 50,000 with notes payable with an interest of 6 percent a year. The note and interest are due on December 31st, 2021. On December 31st 2021 I paid 51,500 to settle the debt in full. Assuming no accruals for interest have been made during the year, what is the entry that I need to record?Clementi Corporation provided the following information for the current year 2022: Accounting income (pre-tax) in 2022 is $400 million. Installment Receivable at the end of 2022 equaled $20 million. and is expected to be collected equally in 2023 and 2024. Warranty Liability balance at the end of 2022 equaled $16 million and is expected to be paid equally in 2023 and 2024. The income tax rate is 20%. Clementi Corporation records income tax payable equal to: O $79.2 million O $72.8 million O $87.2 million O $80.8 million.
- Over the past 10 years, a bank has experienced the following loan losses on its C&I loans, consumer loans, and total loan portfolio. Year 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 C&I Loans 0.0080 0.0088 0.0100 0.0120 0.0104 0.0084 0.0072 0.0080 0.0096 0.0144 Consumer Loans 0.0165 0.0183 Commercial Sector = 8.0% ; Consumer Sector = 18.0% Commercial Sector = 18.3%; Consumer Sector 8.2% 0.0210 0.0255 Commercial Sector = 8.2%; Consumer Sector 18.3% 0.0219 0.0174 0.0147 Using regression analysis on these historical loan losses, the bank has estimated the following: Xc= 0.002+0.8X₁ and X = 0.003 + 1.8X , where Xc = loss rate in the commercial sector, X₁, = loss rate in the consumer (household) sector, and X₁ loss rate for its total loan portfolio. O Commercial Sector = 18.0%; Consumer Sector = 8.0% 0.0165 0.0201 0.0309 (1) If the bank's total loan loss rates increase to 10 percent, what are the expected loss rate increases in the commercial and consumer sectors? Total Loans 0.0075…Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer to Exhibit 9-8 and Exhibit 9-9.) Note: Round time value factor to 2 decimal places, intermediate and final answers to the nearest whole number. Monthly gross income Down payment to be made (percent of purchase price) Other debt (monthly payment) Monthly estimate for property taxes and insurance 30-year loan Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase price Affordable Amount Mortgage Costs $ 3,250 20 Percent $ 175 $ 210 7.0 PercentWhat is the exact simple interest earned on P 35, 000 for the period from April 3, 2020 to October 14, 2020, if the interest rate is 18%?
- Consider the following liabilities of Future Brands, Inc., at December 31, 2021, the company's fiscal year-end. Should they be reported as current liabilities or long-term liabilities? 1. $77 million of 8% notes are due on May 31, 2025. The notes are callable by the company's bank, beginning March 1, 2022. 2. $102 million of 8% notes are due on May 31, 2026. A debt covenant requires Future to maintain a current ratio (ratio of current assets to current liabilities) of at least 2 to 1. Future is in violation of this requirement but has obtained a waiver from the bank until May 2022, since both companies feel Future will correct the situation during the first half of 2022. 1 2 ClassificationWhat sum of money due on October 1, 2026 is equivalent to $3000 due on January 1, 2003 if interest rates were 1.2% / year compounded monthly before January 1, 2010, changed to 6.8% / year compounded monthly from January 1, 2010 to January 1, 2020, and stood at 8.2% / year compounded monthly thereafter? (Enter the value only; do NOT add a $ sign.)For items 16-20 Suppose that Zab borrowed P50,000 from a cooperative on January 8, 2020 and paid the entire sum including interest on April 3 of the same year, and that the interest rate is 1.5%. 16. Determine the exact time for the computation of exact interest. 17. Determine the approximate time for the computation of ordinary interest. 18. Find the amount of interest earned, if it is computed using the exact simple interest. 19. Find the amount of interest earned, if it is computed using the ordinary simple interest. 20. Find the amount of interest earned, if it is computed using the banker's rule.
