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astraxan [27]
2 years ago
8

On June 1, Grey Co. borrows $15,000 cash from National Bank by signing a 120-day, 10% interest-bearing note. Grey will record in

terest during the year totaling {$blank input field}. Using a 360 day year, round your final answer to the nearest whole dollar.
Business
2 answers:
GalinKa [24]2 years ago
8 0

Answer:

$500

Explanation:

Principal amount = $15000

Interest rate = 10%

Interest value = 10%*15000

$1,500

Loan term = 120 days

Pro rated interest = 120/365*1500=493.1

To the nearest whole dollar $500

Leya [2.2K]2 years ago
4 0

Answer:

$500

Explanation:

The amount of interest to be recorded Grey Co on the  borrowed amount of $15,000 is computed by applying the interest rate of 10% to the amount borrowed while apportioning the 120 days period by multiplying by 120 days and dividing by 360 days as computed below:

Interest=$15,000*10%*120/360=$500

The interest that Grey Co would record on the $15,000 is $500 during the year using a 360 day per year instead of the usual 365 day which does not make provision for Banks' holidays

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USPshnik [31]

Answer:

holding period yield is 9.25%

Dividend yield is 0.25%

Capital gains yield is 9.00%

Explanation:

Holding period yield is the total return that accrues to an investment over a period which the investment is owned.

Holding period yield=(Current price-Initial price+dividend)/initial price

current price is $109

initial price is $100

dividend is $0.25

holding period yield =($109-$100+$0.25)/$100

                                  =9.25%

Dividend yield =dividend/initial price

                        =$0.25/$100

                        =0.25%

Capital gains yield=(Current price-initial price)/initial price

                              =($109-$100)?$100

                              =9.00%

Invariably holding period yield is the dividend yield plus capital gains yield.

6 0
2 years ago
Read 2 more answers
Which of the following is an incorrect statement regarding Bonus Depreciation? A. Bonus Depreciation is useful to very large bus
daser333 [38]

Answer:

C. Bonus Depreciation only covers new equipment.

Explanation:

Bonus depreciation is the depreciation provided on additional capital investment. This is depreciation for tax base calculation, where any purchase of eligible asset is depreciated extra that means the purchase price is allowed as standard deduction in first year of it's purchase.

There is no such primary condition that the asset shall be new equipment only.

Therefore, incorrect statement is C

8 0
2 years ago
All About Animals has two product​ lines: Cat food and Dog food. Contribution margin income statement data for the most recent y
Nataly [62]

Answer:

Increase in operating income by $12,000

Explanation:

The above is an incomplete question because the value for 'space normally used to produce the rented line' is missing. However, I assumed the value is $26,000 per year as gotten from the internet -Chegg.

Given the above information, the operating income can be affected as calculated below;

Sales revenue $85,000

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7 0
2 years ago
Sales reps are supposed to create a record on a child object of Opportunities called Survey Request when an Oppo rtunity is move
Gnoma [55]

Answer:

process builder( c )

Explanation:

The tool that can be used to create records and automate record creation after permissions have been removed by the system administrator is the " process builder"TOOL

The process builder tool allows for the development of processes that can be seen from a top view and this ensures that all steps taken in closing up a business deal can be seen all at once from the top. this tool is usually employed when a business is at the closing stages of a deal/business and the actions listed are highlighted

7 0
2 years ago
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A manager who encourages risk taking and creativity would most likely be in a(n) _______ organizational culture.
Vinil7 [7]

Answer:

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5 0
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