A widower was granted a loan of P20,000 by her employer with an interest of 6% for 3 months. The company would accept a promissory note for P20000 non-interest for 180 days. If discounted at once, find the proceeds of the note.
Q: Crane Inc manufactures model airplanes and repair kits. The planes account for 80% of the sales mix,...
A: GIVEN Crane Inc manufactures model airplanes and repair kits. The planes account for 80% of the sa...
Q: Complete the remaining columns of the payroll register for the five employees whose information was ...
A: The payroll register is prepared to calculate the withholdings and net pay of each and every employe...
Q: sources and Uses of Cash. How would each of the following events would affect the firm's balance she...
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three sub...
Q: Job 139 39,200 3,400 103,200 25,500 Job 140 Total direct labor Indirect labor Total labor cost $ 128...
A: Total Cost=Materials+Labor+Overhead
Q: Record adjusting journal entries for each of the following for year ended December 31. Assume no oth...
A: Solution: Adjusting entries are those entries which are required to be prepared to match the revenue...
Q: Comprehensive Problem 20-81 (LO 20-1, LO 20- 2, LO 20-3, LO 20-4, LO 20-5, LO 20-6) (Algo) [The foll...
A: given The TimpRiders LP has operated a motorcycle dealership for a number of years. Lance is the ...
Q: An engineer is working on the layout of a new research and experimentation facility. Two plant oper...
A: MARR: The minimum acceptable rate of return, regularly contracted MARR, or obstacle rate is the base...
Q: A. Assume that you have completed your plans and proformas for the next year of operations. Your pro...
A: Decision making is an important part of conducting every business transactions in an entity. The dec...
Q: The matching concept helps managers provide for more effective operations because it suggests Group ...
A: Ans. Matching concept ensures that all the cost and revenue belonging to a period should be recognis...
Q: 9. Suppose that a company gives out $100 cach month for the employee who most follows lean managemen...
A: Lean 7S principles are the 7 words which is used by management to improve the efficiency and effecti...
Q: A machine costing P480,000 is estimated to have a salvage value of 10% of the first cost when retire...
A: Answer) Calculation of Book value at the end of 5 year Year End Depreciation Expense Accumul...
Q: A corporation issued 220 shares of its $5 par value common stock in payment of a $3,000 charge from ...
A: Increase in expenses should be debited. Increase in equity should be credited. Amount in excess of...
Q: Greek Manufacturing Company produces and sells a line of product that are sold usually all year roun...
A:
Q: Requlred Informetion Use the following information for the Exercises below. (Algo) [The following in...
A: Fair value adjustment is gain when fair value exceed the costs . Fair value adjustment = Total Fair ...
Q: Raw material = Rp. 150.000 Labor cost = Rp. 60.000 Overhead variable cost = Rp 90.000 Fixed S&A cost...
A: a. Product cost under variable and full costing: Particulars Variable Costing (Rp.) Full Costing ...
Q: A company uses a process costing system. Its Assembly Department started the month with 3,000 units ...
A: 67,500 Explanation: Transferred out = Beginning work in process + Transferred in - Ending work in pr...
Q: Fair value of plan assets, Jan. 1 Contributions to the retirement fund during the year Benefits paid...
A: A plant asset is an asset that has a service life of more than one year and is used to produce reven...
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is unearned at the end ...
A: Adjusting entry: It implies to a journal entry that is recorded at the closing of an accounting peri...
Q: A house and lot can be acquired at a down payment of P500,000 and a yearly payment of P100,000 at th...
A: Solution: Cash price of property = Down payment + Present value of annual payments discounted at 14%...
Q: you to review the two financial statements below and give your analysis of the company’s performance...
A: "Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and ...
Q: Happy Company provided the following profit(loss) relating to operating segments:A- 2,000,000; B - (...
A: Reportable Segments are those segments of the company that needs to be reported separately from othe...
Q: Schultz Electronics manufactures two ultra high-definition television models: the Royale which sells...
A: Solution 1: Allocation of overhead and computation of overhead cost per unit - ABC Activity Est...
Q: $ 14,600 55,000 43,500 223,000 Cash Accounts receivable Inventory Buildings and equipment, net of de...
A: Workings: Minden Company Schedule of Expected Cash collection Cash Sales of May 73200 Colle...
Q: . What was the net income after taxes of the property/casualty division?
A: Net income after taxes $1,53,750
Q: On December 1, Daw Co. accepts a $10,000, 45-day, 6% note from a customer. (1) Prepare the year-end ...
A: Accrued interest = Face value of notes x rate of interest x no. of days in calendar year/ 360 days P...
Q: . The Supplies account has an $800 debit balance to start the year. Supplies of $2,100 were purchase...
A: Solution: a. The supplies account has a $300 debit balance to start the year. No supplies were pu...
Q: Financial ratio analysis is a widely used tool for assessing the "health" of an organization and ide...
A: Financial ratings are quantitative indicators that distinguish important information from a company'...
Q: The following data has been collected about Keller Company's stockholders' equity accounts: Common s...
A: Treasury Stock: Treasury stock, sometimes referred to as treasury shares or reacquired stock, is sto...
Q: Visit Yahoo Finance. Select a public company that has not been selected by another student in the di...
A: Investors are often seeking for that one golden key statistic when evaluating a firm, which may be o...
Q: An employee's filing status never appears on the payroll register. O True O False
A: A payroll register is a tool that records wages paid for each and every employee, payroll registers ...
Q: Don't answer this if you already answered or you'll get a downvote. If you do this correctly and com...
A: The adjustment entries are prepared to adjust the revenue and expenses of the current period.
Q: partnership, they each had their own sole proprietorship. The partners contribute the following prop...
A: GIVEN Lemon, Lime, and Orange, three cash method, calendar year individuals, form Starburst Genera...
Q: The cost of PPE includes which of the following : Its invoice price, less any cash discount for earl...
A: The cost of PPE includes all those expenses which are incurred directly on the PPE for making that a...
Q: Refer to the following selected financial information from Phantom Corp. Compute the company's days'...
A: Introduction:- First we need to calculate inventory turnover ratio Inventory turnover ratio =Cost of...
Q: Select the balance sheet category where the items given would best typically appear. Items Balance S...
A: Balance sheet represent the companies position at the end of year THE balance sheet equation is ASSE...
Q: If a sole proprietor buys a printer for his business, where would the printer be reported on Schedul...
A: It would be reported under the category depreciation (Part 2, number 13 depreciation). No it would n...
Q: nvestment d on a 5-ye R of 5%, cc sh flow un The invest
A: Retained earnings refer to the sum value of profits or earnings remained at a company after it has d...
Q: A machine costing P45,000 is estimated to have a salvage value of P4,350 when retired at the end of ...
A: Depreciation rate = 1- ( Salvage Value/Cost)1/n Where n is the number of years of useful life.
Q: Required information Exercise 6-5 Changes in Variable Costs, Fixed Costs, Selling Price, and Volume ...
A: Cost volume profit analysis is the technique used by the management for decision-making. The methods...
Q: Anita pays 50% of the total cost for her benefits, her employer pays the other 50%. monthly premium ...
A: Total Combined benefit payable = Health premium + Dental Premium = $167.50 +$75.50 = $243 Since Anit...
Q: 341,000 Fair value of plan assets, Jan. 1 Contributions to the retirement fund during the year Benef...
A: Formula: Return on plan Assets = Beginning fair value Assets + Benefits paid to retirees - Ending fa...
Q: A machine with a cost of $146,000, accumulated depreciation of $93,000, and current year depreciatio...
A: The purchase and sale of assets are reported under cash flow from investing activities. So the proce...
Q: A company has 31,000 shares of common stock outstanding. The stockholders' equity applicable to comm...
A: Book value per share= (Shareholder's equity- Preferred stock )/ Common stock shares
Q: Delta Oil Company uses the successful-efforts method to accout for oil exploration cost. Delta start...
A: Income statement- An income statement assists the company's management and board of directors in ana...
Q: On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use thi...
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...
Q: E15.25 Lead time and safety stock Monitor Ltd uses 780 tonnes of a chemical each year in its manufac...
A: Safety stock: Safety stock is a type of additional stock quantity which is kept by a production unit...
Q: On December 31, 2020, the Statement of Financial Position of SAIYAN Partnership provided the followi...
A: "Since you have posted multiple questions, we will solve the first question for you. In order to get...
Q: The following data were reported by a corporation: 26,000 21,000 6,500 Authorized shares Issued shar...
A: Share capital refers to the amount that is invested by the shareholders in the business entity. Shar...
Q: agree
A: In partnership normally the capital balances are adjusted as per interest ...
Q: Common coverage of HMOs include Annual Check-ups, confinements, laboratory fees, doctor's fees and d...
A: HMO stands for Health Maintenance Organization which covers a variety area of services provided to t...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- asap within 10 minutes A widower was granted a loan of P20,000 by her employer with an interest of 6% for 3 months. The company would accept a promissory note for P20000 non-interest for 180 days. If discounted at once, find the proceeds of the note.A man borrows P5,430 from a loan association. In repaying this debt, he has to pay P425 at the end of every 3 months on the principal and a simple interest of 14.75% on the principal outstanding at that time. Determine the total amount he must pay after paying all his debt.Luis was granted a loan of P 20,000 by his employer CPM Industrial Fabricator and ConstructionCorporation with an interest of 6% for 180 days on the principal collected in advance. Thecorporation would accept a promissory note for P 20,000 non-interest for 180 days. If discountedat once, find the proceeds of the note.
- A mother purchases a piece of furniture for P25,000. She pays a 20% down payment and agrees to pay tge remaining balance in 12 equal monthly payments. Find the finance charge on the balance if the simple interest rate is 6%?1. Cameron designates 10% of his monthly earnings as charitable contributions. After deducting this amount, he deposits 5% of the remaining amount into a money market account earning 2%. If Cameron's monthly earnings are $4,800 what amount interest will he earn on his deposit each month? 2. Find the maturity value for a loan on $4,225 at 8% made on March 5 and due on May 5 of the same year. Assume a 365-day year. 3. Republic Bank advertises their interest rates at 7 % %. You decide to apply for a loan in the amount of $9,000 for 90 days. The bank grants your loan and the loan officer tells you that there is a document preparation fee of $150 that needs to be paid at the time you sign the documents for the loan. Find the APR. Assume a 360-day year. 4. You took out a loan of $5,000 on May 2 and went back on June 15 to make a payment of $1,200. The loan was at 4% for 1 year. What was your remaining balance after making that payment?An employee obtained a loan of P486,555 at the rate of 20.774% compounded bimonthly to build a house. Determine the following: 1.Nominal interest rate compound twice a month %. 2.Amount he has to pay at the end of thw 15 years? 3.Equal amount to be paid at the end of 5th and 7th year to be fully paid.
- Jacqueline purchased an interest-bearing promissory note for $13,000.00 at 3.00% p.a., due in 120 days. If she sold the note in 48 days by discounting it at 4.00% p.a., calculate the proceeds of the note.On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her checking account at the end of each month, and deposit it into her saving account, where it will earn 5 % annual interest. The account comes to term on December 1. Find the following: a. Find the future value of Nada’s saving account. b. Find Nada’s total contribution to the account. c. Find the total interest earned on the account.An employee obtained a loan of P486,555 at the rate of 20.774% compounded bimonthly to build a house. Determine the following: Nominal interest rate compound twice a month %. Amount he has to pay at the end of thw 15 years? Equal amount to be paid at the end of 5th and 7th year to be fully paid.
- A bank employee passed the ICWA examination and his salary was raised by P30,000 starting from the end of year 1. At an interest rate of 6% semiannually, what is the present value of P30,000 per year over his remaining 20 years of service? Using the formula attached...A man deposits P500 in a credit union at the end of each year for 5 years. The creditunion pays 5% interest, compounded semiannually. At the end of 5 years, immediatelyafter the fifth deposit, how much does the man have in his account.On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her checking account at the end of each month, and deposit it into her saving account, where it will earn 5 % annual interest. The account comes to term on December 1. Find the following: a. Find the future value of Nada’s saving account. b. Find Nada’s total contribution to the account. c. Find the total interest earned on the account. a. a.1899 b.1800 c. 99 BD b. a.1949 b.1900 c. 49 BD c. a.1149 b.1100 c. 49 BD d. a.1829 b.1800 c. 29 BD e. a.2839 b.2800 c. 39 BD