warranty
Q: To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be…
A: Borrowed Amount = $1,200 Interest Rate = 9% Time Period = 1 Years
Q: A contract requires payments of $2624.00 today, $ 4060.00 in 2 years, and $ 4091.00 in 5 years. When…
A: To determine when the contract can be fulfilled by a single payment equal to the sum of the required…
Q: Find the ending balance for December in the below monthly loan amortization schedule.…
A: Loans are paid by fixed equal monthly installments that carry the payment for interest and payment…
Q: At the end of 2020, the business has a notes payable with maturity value of TL18.000. The maturity…
A: Notes payable can be defined as the promissory note that is issued in behalf of the payment with the…
Q: Loan from Bank = $ 100000 on December 01, 2020 Interest rate per Annum = 10 % Loan period = 5…
A: In the given question, loan is taken on Dec 01, 2020 and entity closes its year on Dec 31, 2020.…
Q: On January 1, 2020, Molina Company sold a special machine that had a cash price of P900,000. The…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: In 2023, Ayayai Corp. began selling a new line of products that carry a two-year warranty against…
A: The warranty expense is estimated on the basis of past year experiences. The warranty expense is…
Q: Loan amount = $ 10000 on November 01, 2020 for 5 years Interest rate @10 PA Entry on December 31,…
A: Lets discuss the basic. When loan is obtained from the other person then there is also a term of…
Q: 1. A P300,000 loan is to be paid as follows: P 10,000/month month 1st month to 10th P20,000/month.…
A: Loan amount = P 300000 Interest rate (r) = 12% per annum = 1% per month 1st to 10th month: P 10000…
Q: A 5% loan note was issued on 1st April 2020 at its face value of £40 million. Direct costs of the…
A: Notes payable refer to the debt instrument that is issued to raise capital or funds from the public.…
Q: Assume that you are preparing an amortization table for a three-year note with a stated and yield…
A: The interest expense is calculated on the beginning balance of the note payable at the yield rate.…
Q: How much interest is earned at 2.5% if an amount of P10,500 was invested on October 3, 2021 and will…
A: Interest is calculated on the principal value for the time due that remains unpaid. It is a time…
Q: . 2022, Clark Co. received a P3,000,000, 10% note from a customer upon baid in six equal semi-annual…
A: The time value of money implies that a sum of money is worth more now than the same sum that it will…
Q: What sum of money is required to settle an obligation of P250300 on May 15, 2009 if the loan is made…
A: Compound interest simply means the addition of the interest to the principal sum of the loan. It…
Q: On January 1, 2020, Company A issued 10% bearing note payable in ten semi-annual instalments every…
A: 1. Present value of the bonds = Present value of principal + Present value of interest payments =…
Q: How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at…
A: Here, Loan Amount$355,000.00Time Period in years15APR5.50%Compounding Period (Weekly)52Yearly Bonus…
Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…
A: The amount that is borrowed by the company from financial institutions, banks, or by issuing the…
Q: Loan amount = $ 10000 on November 01, 2020 for 5 years Interest rate @10 PA Entry on December 31,…
A: Formula: Interest amount = Loan amount x Interest rate x Time period
Q: FERB Company obtained a loan on June 26, 2020 and will pay a total amount of P2,473,515 (i.e.…
A: Maturity value is the value which includes both principal and interest amount. Therefore Maturity…
Q: Question 10 A Plus Appliances sells dishwashers with a four-year warranty. In 2019, sales revenue…
A: It has been assumed that no warranty expense has been incurred during the year.
Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…
A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…
Q: 9. Find the amount due on December 5, 2019, if the present value on October 5, 2019 is P 50 000 at…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at…
A: Here, Loan Amount$355,000.00Time Period in years15APR5.50%Compounding Period (Weekly)52Yearly Bonus…
Q: What's the future value of an $1,100 quarterly payment for 25 years at 7% annual interest rate?…
A: Future value of annuity formula.FV = A* whereFV = Future value of annuity A = periodic paymentsr =…
Q: A new Instant Pot has a purchase price of $700.00. With the extended 2-year warranty, the total cost…
A: Price of warranty = Total cost with 2-year warranty - Purchase price…
Q: Information on a note receivable: Face amount P800,000 Effective Interest 14% PV of P1 @14%, n= 5…
A: Lets understand the basics. When note is issued and its payable over installements then it needs to…
Q: QUESTION 7 On April 1, 2020, Balboa Company invests $50,000 in a 6-month CD that pays an annual…
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…
Q: Current Attempt in Progress In 2023, Cheyenne Corp. began selling a new line of products that carry…
A: The warranty expense is estimated on the basis of past year experiences. The warranty expense is…
Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…
A: The value of debt on Dec 1, 2018 is calculated as present value of debt.
Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…
A: The value of debt can be calculated as present value of debt
Q: On January 1, a company agrees to pay $26,000 in seven years. If the annual interest rate is 6%,…
A: Present value means the present value of the money which is to be payable or receivable in the…
Q: X Company, the buyer, re ovember 2020. If the term discount period, what am
A: Formula: Amount paid = Total Invoice amount - Discount amount.
Q: A $100,000 168-day T-bill is purchased for $99,004 on its issue date. What simple ate of interest…
A: Given: Face value =$100000Purchase value =$99004Days to maturity =168
Q: Loan amount = $ 10000 on November 01, 2020 for 5 years Interest rate @10 PA Entry on December 31,…
A: Interest is calculated based on the loan amount, interest rate, and time duration.
Q: When deciding on a contract based on present value and a discount rate of 10%, what other factors…
A: The question is based on the concept of investment appraisal based on the idea of capital budgeting.
Q: In 2025, Oriole Corporation began selling a new line of products that carry a two-year warranty…
A: The warranty expenses are estimated in the basis of past year expenses related to expenditures…
Q: ssuance and Interest Amortization for Zero Coupon Note (Straight Line) Kerwin Company borrowed…
A: Straight-line amortization is a way of allocating interest to a bond in a fair and equitable manner…
Q: Semiannual payments of $5,000 are to be made on a $70,000 loan at 14% compounded semiannually. A…
A: Loans are paid by periodic payments that carry the payment for interest and payment for loan also…
Q: Determine the value of the single payment on November 8, 2023 that is economically equivalent to a…
A: Payment on 3/4/23 = $10,670Payment on 6/9/23 = $9,970Payment on 31/3/24 = $8,250For the Payment made…
Q: document for 6,000 pesos for 365 days with interest at 19.5% simple interest, dated August 10, 2023,…
A: Simple interest is the very simple interest and there is interest on the principal amount only and…
Q: In 2025, Oriole Corporation began selling a new line of products that carry a two-year warranty…
A: The warranty expenses are estimated in the basis of past year expenses related to expenditures…
Q: For the break of Thanksgiving to Christmas On June 1 2023 Cost of trip $5,000 Sweeden On June 1…
A: Investment rents refer to such amount set aside at regular interval to have a pre-targeted amount at…
Q: Required 1 Calculate the future value. On January 1, 2020, $30,000 is deposited into a savings…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Sales made in 2021 for $3,000,000 includes a 2-year warranty coverage, included in the price. The estimated cost for warranty is expected to be 2% for the first year and 5% for the second year. How much warranty expense should be recorded in 2021?
Question 4 options:
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$60,000 |
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$150,000 |
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$100,500 |
|
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$210,000 |
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Solved in 2 steps
- Problem 7-13 (IAA) On December 31, 2020, London Bank granted a P5,000,000 Joan to a borrower with 10% stated rate payable annually and maturing in 5 years. The loan was discounted at the market interest rate of 12%. Unfortunately, the financial condition of the borrower worsened because of lower revenue. On December 31, 2022, the bank determined that the borrower would pay back only P3,000,000 of the principal at maturity. However, it was considered likely that interest would continue to be paid on the P5,000,000 loan. The present value of 1 at 12% is .57 for five periods and .71 for three periods. The present value of an ordinary annuity of 1 at 12% is 3.60 for five periods and 2.40 for three periods. 2. What is the carrying amount of the loan receivable on December 31, 2022? a. 4,650,000 b. 4,790,000 c. 4,772,960 d. 4,720.000You are offered a $3,000,000 contract to be paid to you over 6 years at $500,000 per year. The first payment will be made at the end of the year. If the current market interest rate is 3.5%, what is the contract really worth to you? $2,500,000.00 $3,275,076.09 $2,664,276.51 $3,000,000.00PROBLEM 1 On December 31, 2023, JFG Company, a financing institution, lent P4,000,000 to MFG Company due 3 years after. The loan is supported by an 8% note receivable. Transaction costs incurred to originate the loan amounted to P248,000. P374,000 was chargeable to MFG as origination fees. Interest on the loan is collectible at the end of each year. The yield rate on the loan after considering the direct origination fees and origination costs incurred is 9.25%. JFG was able to collect interest as it became due at the end of 2024. During 2025, however, due to MFG Company's business deterioration and due to political instability and faltering global economy, the company was not able to collect amounts due at the end of 2025. After reviewing all available evidence at December 31, 2025, JFG determined that it was probable that MFG would pay back only P3,400,000 collectible as follows: December 31, 2027 December 31, 2028 December 31, 2029 December 31, 2030 P1,400,000 1,000,000 600,000…
- F3On 1st July 2020 Bashir purchase a machine for RO 15,000. The terms of purchase was 20% cash and the balance to be paid in monthly instalments of RO 500. What amount of the loan will be disclosed under Long term liabilities in the balance sheet on 31 Dec 2020? a. RO 3,000 b. RO 5,000 c. RO 7,000 d. RO 6,00015- Assume a lender offers you a $45,000, 10%, three-year loan that is to be fully amortized with 6 annual payments. The first payment will be due one year from the loan date. How much will you have to pay each year?
- Question 1 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. a) What is the implied per annual simple interest rate for her purchasing (expressed as a percentage and rounded to three decimal places)? Select one: a. 0.076 b. 0.032 c. 0.031 d. 0.088 Question 2 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. b) What is her selling price (rounded to four decimal places)? Select one: a. 98740.2903 b. 98634.0935 c. 98846.7161 d. 99317.7280 Question 3 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest…Damoah's Pizza Co. borrowed $200,000 on January 1, 2020, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2022. In connection with this note, Damoah's should report interest expense at December 31, 2020, in the amount of: Question 23 options: $0 $24,000 $48,000 $50,880You expect to receive the following: $4,448 $22,900 $3,813 at the end of each year for 12 years today at the end of year 6 at the end of each year forever $843 $10,528 at the end of 15 years What is the uniform annual payment for the first 12 years equivalent to the above payment scheme, if the interest rate is 8%? Enter your answer as follow: 123456
