If you lend $3000 to a friend for 15 months at 10% annual simple interest, find the future value of the loan. $
Q: On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were issued…
A: The bonds are issued at discount when market rate is higher than the coupon rate of bonds payable.
Q: cost of P6,200,000. At December 31, 2021, the market value San Jose Realty Corporation acquired a…
A: An investment property is a piece of real estate purchased with the intention of earning a return on…
Q: Germo Company started business at the beginning of the current year. The entity established an…
A: Net realizable value of accounts receivables is the balance of full receivables which is reduced by…
Q: A small gift shop has a beginning inventory at $9,120. If the additional inventory detailed in the…
A: Cost of goods sold is calculated as difference between cost of goods available for sale and ending…
Q: The trust for Ardolio, Inc. prepares a statement of affairs which shows that unsecured creditors…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Shown below is the activity for one of the products of Random Creations: January 1 balance, 80 units…
A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sell…
Q: The accounting records and bank statement of Orison Supply Store provide the following information…
A: GIVEN The accounting records and bank statement of Orison Supply Store provide the following…
Q: Assuming HST is not charged, what will a POS Summary result in a credit to: * Bank O A/R O A/P O…
A: Point of sale (POS) is place where a customer made payment for goods or services. Point of sale…
Q: Provide an explanation of whether it is advantageous for a bank to classify debt investments as…
A: ANSWER Provide an explanation of whether it is advantageous for a bank to classify debt…
Q: Darius Inc. granted 200,000 stock options to its employees. The options expire 10 years after the…
A: Employee stock options are offered by companies to their employees as equity compensation plans.
Q: PROBLEM 14 Wayne company uses a job costing system and applies overhead to jobs using a…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Lloyd Gurango Co. completed the following sales transactions during the month of June 2019. All…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: E. On May 30, 2012 a lady manufacturing engineer loaned $ 15,000 in the bank for the expansion of…
A: The question is based on the concept of Financial Accounting.
Q: The equity section of Gunkel Corporation as of December 31, 2021, was as follows: Share…
A: Retained earnings is increases with net income and decreases with net loss . Also the dividends…
Q: Use the following information for the Exercises below. (Algo) [The following information applies to…
A: The question is related to the Ratio Analysis. The Net profit ratio is calculated with the help of…
Q: he variable portion of Good Food Corporation's flexible budget for overhead is given below: Machine…
A: Variable Overhead Variance shows the difference or Variances between the Standard Variable Overhead…
Q: On January 1, 2011, Boyle Company issued 9% bonds in the face amount of P5,000,000 which mature on…
A: Answer) Calculation of Selling Price of Bonds Face Value of Bonds = P 5,000,000 Annual Coupon rate =…
Q: Why is independence is such an important requirement for auditors. Who gets hurt when accountants…
A: An auditor is an individual or an organisation authorized to review and verify the effectiveness,…
Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of…
A: Statement of Owner's Equity - Statement of owner's equity includes amount contributed by the owner…
Q: For both the current year and one year ago, compute the following ratios: 1. Return on equity. 2.…
A: Return on equity (ROE) refers to a ratio which shows the relationship between net income and…
Q: a. His sari-sari store has cash deposited in a bank account amounting to P50,000 b. His sari-sari…
A: Statement of Financial position includes: Assets accounts Liabilities accounts Shareholders equity…
Q: Morrill Company produces two different types of gauges: a density gauge and a thickness gauge. The…
A: Buy cost is the cost to buy or purchase the product. Make cost is the cost of producing the product.
Q: If a company has fixed costs of S6.000 per month and their product that sells for $200 has a…
A: Formula: Break even point in units = Fixed cost / Unit contribution margin
Q: An asset is purchased for P 20,000. Its estimated life is 10 years after which will be sold for P…
A: Depreciation expense is the reduction in the value of asset due to its use (how much the asset is…
Q: dentify each of the following statements as either true or false. a. A voucher system of control…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: How much is the net effect of classifying NCAHS and reclassifying back to PPE on 2019 net income?…
A: Profit/Loss as a result of reclassification : Carrying amount asset held for sale - Carrying amount…
Q: Question 42 When the Fed purchases government securities, it Question 42 options: a)…
A: Government securities are government borrowing financings that are used to fund everyday activities…
Q: Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4…
A: Answer - Working Note - 1. Cost per Unit Particular Amt DM 8 DL 6 Variable OH 0.3…
Q: Fixed cost = AED 3000 Variable cost= AED 500 Quantity= 100 units price= AED 10 What is the…
A: Total cost is the cost involved in making in product, which involves fixed cost that remains same…
Q: n January 1, 2021, Nebraska Company issued a 3-year bond with face value of P1,500,000 and a 9%…
A: Valuation of Bond
Q: is able to determine the data n ssic and 16 minutes to cut 1 un per day. It will take 14 minute tal…
A: Let, x be the number of Classic rubber shoes and y be the number of Freestyle rubber shoes.
Q: CMN Inc. uses LIFO and has experienced increasing costs since its founding. CMN disclosed that the…
A: LIFO Method is different from FIFO Method as it shows inventory from the earliest purchased material…
Q: ld 10% plus accrued interest. Interest is receivable every April 1 and October 1. What amount…
A: Interest receivable on the bond is the amount of interest which has been computed on the basis of…
Q: PROBLEM 4: MULTIPLE CHOICE- COMPUTATIONAL 1. Dark Co.'s Dec. 31, 20x1 cash balance is P8,200,000…
A: GIVEN Dark Co.'s Dec. 31, 20x1 cash balance is P8,200,000 before the Dec. 31, 20x1 statement of…
Q: On March 25, 2020, Blue Steel co. purchased a new extrusion machine for Php 3,344,015 with an…
A: Formula: Annual Depreciation (straight line method) = (Cost of the assets - Residual value) /…
Q: Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Q: participates in her employer's nonqualified deferred compensation plan. For 2021, she is deferring…
A: Non-Qualified Deferred Compensation Plans: Non-qualified deferred compensation plans allow employees…
Q: 0 hp sandmill for paint manufacturing cost P 360,000. Bank charges arrastre and brokerage cost P…
A: Straight-line depreciation The simplest straightforward approach for determining an asset's loss of…
Q: Date Transaction Nov. 5 Mr. Mario Cruz investedP1,500,000 and three trucks with fair market value of…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at…
A: Target cost is the cost which need to incurred by a entity in order to arrive the predetermined…
Q: 1. On January 1, 2011, Boyle Company issued 9% bonds in the face amount of P5,000,000 which nature…
A: The selling price of bonds will be equal to the present value of all future cash inflows.
Q: pension expense fo
A: Pension refers to the income which is received at the time of retirement as an income source…
Q: 2017 2016 Current liabilities $250 000 $170 000 Non-current liabilities 130 000 340 000…
A: Net Profit Margin = Net Profit/ Net sales
Q: Problem 5 As of January 1, 2021, the equity section of LD Food Co's balance sheet contained the…
A: Common shares are included in the equity section of the balance sheet to show the amounts for the…
Q: Beatty Corporation recently started operations. They add material at the beginning of their…
A: Working: Cost per unit = Materials costs + Conversion costs = $15 + $22 = $37 per unit
Q: Why it is important to have auditing standards? Specifically, why are ethics important to the…
A: Auditing is the term which is defined as examination as well as investigation of the financial…
Q: vable is reasonably assured, what is the net income to be recognized by the entity for the year…
A: Franchise Account The Purpose of providing the franchise business to allow to use the reputation of…
Q: Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The…
A: Contribution margin per labor hour=Sales price per unit-Variable cost per unitLabor hours per unit
Q: True or False. 1. The loan is considered fully paid and the debtor is released from the…
A:
Q: Calculate for Fred the correct amount of employment remuneration that he should include on his tax…
A: Employment remuneration is the amount of money which has been received by the employee for the work…
If you lend $3000 to a friend for 15 months at 10% annual simple interest, find the future value of the loan.
$
Step by step
Solved in 2 steps
- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityA friend asks you for a loan of $1,000 and offers to pay you back at the rate of $90 per month for 12 months. Using an annual interest rate of 10%, find the net present value (to you) of loaning your friend the money.If you lend $3000 to a friend for 15 months at 8% annual simple interest, find the future value of the loan. $ Need Help? Read It Master It 4
- You lend a friend $10,000, which your friend will repay in 5 equal annual end-of-year payments of $3,000, with the first payment to be received 1 year from now. What rate of return does your loan receive? I need to be able to use excel and manually calculate as well.After making payments of $901.10 for 8 years on your 30 year loan at 8.3%, you decide to sell your home. What is the loan payoff?After making payments of $901.10 for 6 years on your 30-year loan at 8.9%, you decide to sell your home. What is the loan payoff?
- A customer of your bank comes for a car loan 10000 OMR. He is charged with an interest rate of 5% per year. The customer expects a monthly repayment schedule from you, to plan his repayment. Provide a loan amortization schedule for a monthly repayment of 1 year. (Amortization factor is 0.952 )You lend $450 to a friend who promises to make 4 payments to you of $120 at the end of 6 months, 12 months, 18 months and 24 months. Draw a timeline from your perspective. If you can reliably earn 5% per year, what is the net present value (NPV) of this loan?Suppose that you borrow $20,000 for four years at 8% toward the purchase of a car. Find the monthly payment and the total interest for the loan.
- You lend a friend $10,000, for which your friend will repay you $27,027 at the end of 5 years. What interest rate are you charging your friend? The interest rate you are charging your friend on the loan is Round to the nearest whole percentYou have purchased a house and take out a $600,000 loan with a 30 year term at 5% nominal annual interest rate with monthly compounding. What are your monthly payments to the nearest penny?Suppose you borrow 11,000 for 5 years at 6% towards the purchase of a car. What would be the monthly payments and total interest for the loan?