What is the interest expense ratio for ACME bank?Taxes are 5000 and non interest expense is 5000 AssetsCashDemand deposits from other Fls 25,000InvestmentsFederal funds soldLoansReserve for loan lossesPremisesTotal assetsInterest IncomeInterest expense$75,000Noninterest income50,000Provision for loan losses 10000$20,000100008,0006,000120,000(10,000)35,000$224,000Demand depositsSmall time depositsJumbo CDsFederal funds purchasedIEquityTotal liabilities/equityLiabilities and Equity.90,00060,00040,00010,00024,000200,000$224,000

An interest expense ratio is the ratio which is used by the banks or any businesses through which…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

Dickonson Products is a division of a major corporation. The following data are for the last year of operations: Sales... $16,640,000 $399,360 Net operating income Average operating assets $4,000,000 The company's minimum required rate of return. 18% The division's residual income is closest to: Select one: a. $(320,640) b. $1,119,360 c. $399,360 d. $(2,595,840)
If the note payable has total credits of RO 500 and total debits of RO 120, how much is its balance? a. RO 620 b. RO 500 c. RO 120 d. RO 380
The amount of simple interest on a deposit varies jointly with the principal and the time in days. If $17.85 is earned on a deposit of $3500 for 12 days, how much interest would be earned on a deposit of $3700 for 20 days? ... The deposit would earn S in interest. (Simplify your answer. Round to the nearest cent as needed.)
Calculate the missing information for the installment loan that is being paid off early. Number of Payments Payments Payments Made Remaining 36 23 Sum-of-the- Digits Payments Remaining Sum-of-the- Digits Number of Payments Rebate Fraction
7.Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $ 7 1 1 2 years $735
Give the journal entry for paying off the notes (RM3,000) and accrued interest (RM200).
help me answer no. 3 and 4
2. An interest computed on the maturity value of the loan and is deducted from that amount at loan date to determine the net amount to be received by the borrower. a. Proceeds b. Bank discount c. Principal d. Interest rate 3. Used to find the number of days as numerator to determine the time by assuming that each months has 30 days. Actual time a. b. Approximate time C. Time concept d. Loan time Troy borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and maturity value of the loan. 4. Interest a. 33,590.50 b. 66,160.14 c. 33,095.05 d. 66,190.41 5. Maturity value a. 337,240.41 b. 304,640.50 C. 337,210.14 d. 304,145.05
Paid premium by cheque R300. I answered it the following way: Asset:cash liability: Insurance premium -R300 DR -R300 CR Is my anwser correct? This is an accounting equation question
A design studio received a loan of $4,250 at 3.90% compounded semi-annually to purchase a camera. If they settled the loan in 3 years by making quarterly payments, construct the amortization schedule for the loan and answer the following questions: a. What was the payment size? Question 4 of 6 Round to the nearest cent b. What was the size of the interest portion on the first payment?
1
please give me calculation!

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