Bank charged interest on overdraft Rs. 500 journal entry​

Answers

Answer 1

Answer:

interest is overdraft a/c.

Explanation:

In the cash book the above entry would be recorded on the credit side and as we know that pass book is an exact opposite record of the cash book so, interest on bank overdraft would be recorded on the debit side of the pass book


Related Questions

The theory of constraints says thatqueues should not be allowed to form in the plant.bottleneck resources should be idle whenever possible.the bottleneck is the most critical resource.labor expense reduction should be the primary goal.

Answers

Answer:

the bottleneck is the most critical resource

Explanation:

The constraint theory represent that the bottleneck would be considered as the most critical resources as it decided how much long the process could be delayed and due to this the objectives and the goals of the organization would be highly impacted

Therefore as per the given situation, the above represent the answer

Fuente, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,075 2 1,210 3 1,340 4 1,420 a. If the discount rate is 8 percent, what is the future value of the cash flows in Year 4

Answers

Answer:

the future value of the cash flow in year 4 is $5,632.73

Explanation:

The computation of the future value of the cash flow in year 4 is as follows:

= $1,075 × (1.08^3) + $1,210 × (1.08^2) + $1,340 × (1.08^1) + $1,420 ×(1.08^0)

= $1,354.19 + $1,411.34 + $1,447.20 + $1,420  

= $5,632.73

Hence, the future value of the cash flow in year 4 is $5,632.73

The same is to be considered and relevant  

Bob writes a check to cash for $1000 to pay a bill from Acme. He then finds out that Acme breached the contract so he decides he will not pay them and puts a stop payment on the check. However, the check is stolen by Theron Thief (and Bob was not negligent) who then gives it to his landlord, Larry Landlord, who Theron already owes $1000. If Larry does not know about the theft or any problems with the instrument, what is the status of Larry:

Answers

Answer:

Holder in due course

Explanation:

A holder in due course arise when someone accepted the negotiable instrument for exchange in the value without any kind of reason. In this, there is a right for claim the value of an instrument that oppose to the orginator and the intermediate holders

So as per the given situation, Lary is holder in due case as he is holding the check in the good faith also he is not aware of the last theft

Sunland Company sells office equipment on July 31, 2022, for $22,080 cash. The office equipment originally cost $72,560 and as of January 1, 2022, had accumulated depreciation of $38,910. Depreciation for the first 7 months of 2022 is $4,980.

Required:
Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment.

Answers

Answer:

Accumulated depreciation on Jan 1 , 2022 = $38,910

Depreciation for first 7 months of 2022 = $4,980

Accumulated depreciation on July 31 , 2022 = Accumulated depreciation on Jan 1 , 2022 + Depreciation for first 7 months of 2022 = 38,910 + 4,980 = $43,890

Sale price of equipment = $22,080

Book value of equipment on July 31, 2022 = Cost price - Accumulated depreciation = 72,560 - 43,890 = $28,670

Loss on disposal of equipment = Book value of equipment on July 31, 2022 - Sale price of equipment = 28,670 - 22,080 = $6,590

No. Account Titles and Explanation                Debit     Credit

(a)    Depreciation expense                               $4,980

            Accumulated depreciation- equipment             $4,980

(b)    Cash                                                            $22,080  

Accumulated depreciation - equipment           $43,890  

Loss on disposal of equipment                         $6,590

                   Equipment                                                     $72,560

Listed below are several transactions that typically produce either an increase or a decrease in cash. Indicate by letter whether the cash effect of each transaction is reported on a statement of cash flows as an operating (O), investing (I), or financing (F) activity.

a. Sale of Common Stock.
b. Sale of Land
c. Purchase of Treasury Stock
d. Merchandise Sales
e. Issuance of a long-term note payable
f. Purchase of merchandise
g. Repayment of note payable
h. Employee salaries
i. Sale of equipment at a gain.
j. Issuance of bonds

Answers

Answer:

a. Sale of Common Stock.

Classification: Financing activity

b. Sale of Land

Classification: Investing activity

c. Purchase of Treasury Stock

Classification: Financing activity

d. Merchandise Sales

Classification: Operating  activity

e. Issuance of a long-term note payable

Classification: Financing activity

f. Purchase of merchandise

Classification: Operating  activity

g. Repayment of note payable

Classification:

Financing activity

h. Employee salaries

Classification: Operating  activity

i. Sale of equipment at a gain.

Classification: Investing activity

j. Issuance of bonds

Classification: Operating  activity

Drag each tile to the correct box.
Match each type of social media to its description.
allows users to provide short
updates to followers
connects individuals with common
relationships or interests
creates a space for individuals to
share knowledge on a specific topic
social network
arrowRight
discussion forum
arrowRight
microblogging
arrowRight
Reset Next

Answers

Answer:

1. Microblogging.

2. Social network.

3. Discussion forum.

Explanation:

1. Microblogging: it is an online platform or web resource designed and developed to avail end users with the opportunity to provide short updates to followers. One of the most commonly used microblogging platform in the world is Twi-tter. Others include Tumblr, Pinterest, WordPress, blog etc.

2. Social network: it is a software application, online platform or web resource designed and developed to connect individuals with common relationships or share similar interests. Face-book is one of the most widely used social network in the world today. Other social network include You-Tube, Hangout, Insta-gram, etc.

3. Discussion forum: it is an online platform or software application designed and developed to create a space for various individuals, especially registered members to share knowledge on a specific topic ranging from sports, education, comedy, movies, jobs, politics, romance, crime, books, food, etc. Some examples of discussion forum are Reddit, nairaland, etc.

Answer:

social network - connects individuals

discussion forum - creates a space

microblogging - allows users

plato

Name four commercial services which are useful to the manufacturer​

Answers

Answer:

hu

Explanation:

giyughhyyfrfjjtvvhi

Shen lives in San Diego and runs a business that sells guitars. In an average year, he receives $723,000 from selling guitars. Of this sales revenue, he must pay the manufacturer a wholesale cost of $423,000; he also pays wages and utility bills totaling $267,000. He owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Shen does not operate this guitar business, he can work as a financial advisor, receive an annual salary of $20,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. No other costs are incurred in running this guitar business.

Identify each of Paolo's costs in the following table as either an implicit cost or an explicit cost of selling guitars.
a. The salary Paolo could earn if he worked as a financial advisor
b. The wages and utility bills that Paolo pays
c. The wholesale cost for the guitars that Paolo pays the manufacturer
d. The rental income Paolo could receive if he chose to rent out his showroom

Answers

Answer:

Shen

Paolo's Implicit and Explicit Costs:

Implicit Costs:

a. The salary Paolo could earn if he worked as a financial advisor = $20,000

d. The rental income Paolo could receive if he chose to rent out his showroom = $2,000

Total implicit costs = $22,000

Explicit Costs:

b. The wages and utility bills that Paolo pays = $267,000

c. The wholesale cost for the guitars that Paolo pays the manufacturer = $423,000

Total explicit costs = $690,000

Explanation:

a) Data and Analysis:

Sales revenue from selling guitars per year = $723,000

Cost of goods sold = $423,000

Wages and Utility expenses = $267,000

Accounting profit = $33,000 ($723,000 - ($423,000 + $267,000))

Opportunity costs:

Annual rent to be received from showroom if rented out = $2,000

Salary as a financial advisor = $20,000

Economic profit = $11,000 ($33,000 - $22,000)

If a firm sells 6 units at a price of $6 with a total cost of $7, what is the firm's profit from selling 6 units

Answers

Answer:

$6 (loss)

Explanation:

Profit per unit = Selling Price - Cost Price

                       = $6 - $7

                       = - $1

Total profit / (loss) = - $1 x 6 = ($6)

Conclusion

The result is a loss simply because the Cost is higher than the Selling Price

A company has a Deferred Tax Liability of $35,000. Now, the government has just changed the statutory tax rate from 35% to 30% effective immediately. What is the correct journal entry to record the impact of this tax rate change

Answers

Answer and Explanation:

The correct journal entry to record the impact of this tax rate change is shown Below:

Income Tax Expense $5,000

     To Deferred Tax Assets $5,000

(being the income tax expense is recorded)

here the income tax expense is debited as it increased the expense and credited the deferred tax assets

So, the same should be considered

The accountant for Fazzi Corp. was preparing a bank reconciliation as of April 30, 2017. The following items were identified: Fazzi's book balance $46,200 Outstanding checks 1,100 Interest earned on checking account 50 Customer's NSF check returned by the bank 500 In addition, Fazzi incorrectly recorded a customer's check in cash receipts as $150; the bank recorded the amount correctly as $510. What amount will Fazzi report as its adjusted cash balance at April 30, 2017

Answers

Answer:

See below

Explanation:

With regards to the above information, the adjusted cash balance at April 30, 2017 is computed as shown below;

Book balance

$46,200

Add:

Interest earned on checking account

$50

Less:

Customer's NSF check returned by the bank

($500)

Add:

Error in recording customer's check

($510 - $150)

$360

Add:

Outstanding checks

$1,100

Adjusted cash book balance

$47,210

The following information is available for Cubic Company before closing the accounts. After all closing entries are made, what will be the balance in the Retained earnings account

Answers

Answer: See explanation

Explanation:

Your question isn't complete but here are other information that I found online:

Net income = $112700

Retained earnings = $108000

Dividend = $40000

The balance in the Retained earnings account will be calculated as:

Retained earnings = $108000

Add: Net income = $112700

Less: Dividend = $40000

Balance of retained earnings = $180700

Excellent Company has provided the following operating information for one of its divisions: Sales $100,000 Variable expenses $55,000 Contribution margin $45,000 Direct fixed expenses $35,000 Common fixed expenses allocated in proportion to sales amounts to $16,000. Based on the provided information, calculate the division's segment margin.

Answers

Answer:

See below

Explanation:

Given the above information, segment margin is computed as shown below.

Segment margin = Net sales - Cost of sales - Fixed cost

Given that;

Net sales = $100,000

Cost of sales = $55,000

Fixed cost = $35,000

Then,

Segment margin = $100,000 - $55,000 - $35,000

Segment margin = $10,000

Therefore, the division's segment margin is $10,000

Understand and explain the process of idea generation and validation

Answers

Answer:

Idea generation is the creative process or procedure that a company uses in order to figure out solutions to any number of difficult challenges. It involves coming up with many ideas in a group discussion, selecting the best idea or ideas, working to create a plan to implement the idea, and then actually taking that idea and putting it into practice. The idea can be tangible, something you can touch or see, or intangible, something symbolic or cultural.

Idea validation is the process of testing and validating your idea prior to launching your business name, tagline, product, service or website. This is like the research and development process big companies use to test product ideas before they’re released to the general public.

Idea validation can involve anything from information-gathering interviews to special landing pages on the web. The entire purpose is to expose the idea to your target audience before you build and release the final product.

If your firm is a potential entrant thinking about entering an industry, you want the entry barriers to be _____.

Answers

Answer:

High

Explanation:

Entrants can be regarded as firms that are willing in entering a particular industry. As regards to market theory, a potential entry can become actual entry into a market on some condition such as when existing firms that are in the market have their earns above the Normal profit. It should be noted that If your firm is a potential entrant thinking about entering an industry, you want the entry barriers to be High

Millington Materials is a leading supplier of building equipment, building products, materials, and timber for sale, with over 200 branches across the Mid-South. On January 1, 2021, management decided to change from the average inventory costing method to the FIFO inventory costing method at each of its outlets. The following table presents information concerning the change. The income tax rate for all years is 40%.

Income before Income Tax
FIFO Average Cost Difference
Before 2015 $35 million $28 million $7 million
2015 48 million 25 million 23 million
2016 30 million 29 million 1 million

Requied:
a. Prepare the journal entry to record the change in accounting principle.
b. Determine the net income to be reported in the 2016–2015 comparative income statements.

Answers

Answer:

A. Dr Inventory $30

Cr Income tax payable $12

Cr Retained earnings $18

B. 2016 Net income $18

2015 Net income $28.80

Explanation:

a. Preparation of the journal entry to record the change in accounting principle.

Dr Inventory $30

Cr Income tax payable $12

Cr Retained earnings $18

b. Calculation to Determine the net income to be reported in the 2016–2015 comparative income statements

Balance at Jan ,2015 $21.00 millions

[35 millions- (35 millions* 40%)]

NET INCOME $28.80 millions

Cash dividends ($4.20) millions

Balance At December 31,2015 $45.60 millions

NET INCOME $18 millions

Cash dividends ($4.20) millions

BALANCE AT DECEMBER 31,2016 $59.40 millions

Therefore the net income to be reported in the 2016–2015 comparative income statements will be:

2016 Net income $18

2015 Net income $28.80

The journal entry to record the change in accounting principle will be:

Debit Inventory $30 million

Credit Income tax $12 million

Credit Retained earnings $18 million

(To record error correction)

It should be noted that the income tax will be credited in the amount below:

= 40% × ($7 million + $23 million)

= 40% × $30 million.

= 0.4 × $30 million

= $12 million

The retained earnings will be:

= $30 million - $12 million

= $18 million

The net income to be reported in the 2016–2015 comparative income statements will be $18 million and $28.8 million.

The net income for 2016 will be:

= $30 million - $12 million

= $18 million

The net income for 2015 will be:

= $48 million - (40% × $48 million)

= $45 million - $19.2 million

= $25.8 million

Read related link on:

https://brainly.com/question/15087002

Rerun Manufacturing Company is in the process of preparing its 2020 budget and is anticipating the following changes: 30% increase in the number of units sold. 25% increase in the direct material unit cost. 20% increase in the direct labor cost per unit. 12% increase in the manufacturing overhead cost per unit. 20% increase in the sales price. 6% increase in the administrative expenses.

Answers

Answer:

$403,485

Explanation:

The computation is shown below;

Composition of direct material, direct labor and factory overhead in the ratio of 3:2:1

So,  

Direct Materials = $333,000 × 3 ÷ 6 =$166,500

Direct Labor = $333,000 × 2 ÷ 6 = $111,000

Factory Overhead = $333,000 × 1 ÷ 6 = $55,500

Now the Revised Cost of Goods Sold for the year 2020 is

Direct Materials = $166,500 × 125% = $208,125

Direct Labor = $111,000 × 120% = $133,200

Factory Overhead = $55,500 × 112% = $62,160

finally  the estimated cost of goods sold for the year 2020 is

= $208,125 + $133,200 + $62,160

= $403,485

Income can be earned through:
- A permanent job
- A seasonal job
- All of the above​

Answers

all of the above

mark me brainliesttt :))

Tim has a knee replacement. He has applied for a loan for this surgery; the loan has an annual interest rate of 9 percent. The artificial knee can function for 10 years and depreciates at a constant rate every year until the time of replacement. Fees for knee replacement surgery are expected to grow at 10 percent annually. What is the cost of this capital

Answers

That will more and likely be 10

The following data relate to direct labor costs for the current period: Standard costs 7,500 hours at $11.70 Actual costs 6,400 hours at $10.50 What is the direct labor time variance

Answers

Answer:

Direct labor time (efficiency) variance= $12,870 favorable

Explanation:

Giving the following information:

Standard costs 7,500 hours at $11.70

Actual costs 6,400 hours

To calculate the direct labor time (efficiency) variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (7,500 - 6,400)*11.7

Direct labor time (efficiency) variance= $12,870 favorable

Lafayette, Inc. was incorporated on January 1, 2014. Lafayette issued 15,000 shares of common stock and 800 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 12% dividend rate. Lafayette has not paid any dividends yet. In 2017, Lafayette had its first profitable year, and on November 1, 2017, Lafayette declared a total dividend of $44,000. What is the total amount that will be paid to common stockholders

Answers

Answer:

$5,600

Explanation:

Calculation to determine the total amount that will be paid to common stockholders?

Total amount paid to common stockholders=$44,000-[(800 (12%)($100)*4]

Total amount paid to common stockholders=$44,000-($9,600*4 )

Total amount paid to common stockholders=$44,000-$38,400

Total amount paid to common stockholders=$5,600

(2014-2017=4)

Therefore the total amount that will be paid to common stockholders is $5,600

At the beginning of 2018, Hold Steady Company had total assets of $520,000 and total liabilitiesof $250,000. Answer each of the following questions.

a. If total assets increased $60,000 and stockholders' equity decreased $90,000 during theyear, determine the amount of total liabilities at the end of the year.
b. During the year, total liabilities decreased $75,000 and stockholders' equity increased$50,000. Compute the amount of total assets at the end of the year.

Answers

Answer:

a. $400,000

b. $495,000

Explanation:

Assets = Equity + Liabilities

520,000 = Equity + 250,000

Equity = 520,000 - 250,000

= $270,000

a. Assets increased by $60,000. This would be:

= 520,000 + 60,000

= $580,000

Equity decreased by $90,000:

= 270,000 - 90,000

= $180,000

Liabilities = Assets - Equity

= 580,000 - 180,000

= $400,000

b. Total liabilities decreased $75,000:

= 250,000 - 75,000

= $175,000

Equity increased by $50,000:

= 270,000 + 50,000

= $320,000

Assets = Equity + Liabilities

= 175,000 + 320,000

= $495,000

What is meant by the phrase nonverbal communication and what form of nonverbal communication do you think is misunderstood the most by people? in a 200 word​

Answers

Answer:

See the explanation below.

Explanation:

Nonverbal communication involves the transfer of messages or signals utilizing nonverbal platforms such as eye contact, facial expressions, gestures, posture, and body language. It entails the utilization of social cues, kinesics, distance, physical environments/appearance, voice, and touch, among other things.

I think that gesture is the most misinterpreted form of nonverbal communication. Gesture refers to the movement of a body component, especially the hand or the head, to convey a message or meaning.

Gesture is the most misinterpreted form of nonverbal communication due to the fact that the meaning of particular gestures varies greatly throughout cultures. While the hand-held “OK” sign, for example, normally sends a positive message in English-speaking countries, it is deemed offensive in Germany, Russia, and Brazil. As a result, it's critical to be cautious about how you utilize gestures in order to avoid misinterpretation.

The following information is available for Kiss Company: Sales$100,000 Operating expenses$94,000 Operating assets$40,000 Stockholder's equity$25,000 Cost of capital 10% What is Kiss Company's residual income

Answers

Answer:

the residual income is $2,000

Explanation:

The computation of the residual income is shown below:

= Operating income - rate of return × operating assets

= ($100,000 - $94,000) - (10% × $40,000)

= $6,000 - $4,000

= $2,000

hence, the residual income is $2,000

The same is to be considered and relevant

Vaughn Manufacturing has a materials price standard of $2.00 per pound. 4900 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4900 pounds, although the standard quantity allowed for the output was 3700 pounds. Vaughn Manufacturing's materials quantity variance is

Answers

Answer:

$2,400 Unfavourable

Explanation:

Direct material quantity variance = (Standard quantity - Actual quantity) × Standard cost

Given that:

Standard quantity = 3,700 pounds

Actual quantity = 4,900 pounds

Standard cost = $2

Therefore,

Direct materials quantity variance

= (3,700 - 4,900) × 2

= - $2,400

= $2,400 Unfavourable

The difference between the standard and actual quantity is negative. We used more pounds than expected, hence variance will be unfavourable.

A company purchased a marketable security for $10,000 on 3/3/2013. On 3/30/2013, the company prepared its financial statements and marked the security to its market value, which was $17,500. The security was sold on 4/30/2013 for $15,000. The company used the Trading Securities method to account for the security. The statutory tax rate is 35%. What was the effect of the sale of the security on Income Tax Payable on 4/30/2013

Answers

Answer:10,000

Explanation: i got it in my classkick

A newly independent Eastern European nation wants to adopt a floating exchange rate system in order to restore monetary control to its government. Using the monetary autonomy argument, how do this country's ministers justify establishing this system? Trade deficits are determined by the balance between savings and investment in a country, not by the external value of its currency. Unpredictability of exchange rate movements makes business planning difficult. Speculation in exchange rates dampens the growth of international trade and investment. Each country should be allowed to choose its own inflation rate. Variable exchange rates are more receptive to a trade balance.

Answers

Answer:

Each country should be allowed and given the possibility to set its own inflation rate.

Explanation:

The monetary autonomy argument states that a country's central bank should be free to influence its own money supply and internal economic conditions, and therefore a fixed exchange rate should be ineffectual and inefficient.

The proponents said that each country should be entitled to set its own inflation rate. Therefore, Each country should be given the free will to chose and decide its own inflation rate.

Creating a Budget
Before you can make a spending plan that works for your particular situation, you'll need to understand your spending priorities. What must you spend money on, and what items do you simply want? First, make sure you understand the following terms:
budget: a plan for saving and spending
expenditure: the amount of money spent
necessity: an item that a person must have, such as housing, clothing, or food
luxury: an item that offers physical comfort or enjoyment but is not necessary for life and health.
1. Classify each of the following expenditures as a necessity or a luxury. If any item can be considered either a necessity or a luxury, depending on the situation, classify it as either.
Expenditure Necessity Luxury Either
a. Auto insurance
b. Clothing for school
c. Concert tickets
d. Dinner for two at the newest
e. restaurant in town Groceries
f. Music downloads
g. Medical treatment for strep throat
h. Theme park tickets
i. New car
j. Rent
k. School lunches
I. School ski trip
m. Cell phone service
2. For those items that you indicated could be either necessities or luxuries, describe when you would consider them necessities and when you would view them as luxuries.
MAKING A BUDGET
3. Income First, write down your weekly income: $______.
4. Expenditures For one week, keep track of all of your expenditures. At the end of the week, put the totals in the table below.
Weekly Expenditure Current Amount
Clothing $
Debt repayment (monthly payment + 4) $
Entertainment $
Food (including groceries, meals
out, and snacks) $
Rent and utilities (monthly payment = 4) $
Transportation (own car, ridesharing, public
transportation, etc.) $
Personal care items $
Other $
Total Weekly Expenditures $
5. Subtract your total expenditures from your weekly income.
6. Revised budget
At the end of the week, did you have any money left? Or did you spend more than you earned? If you want to make better use of your money, take a look at how you're spending it and decide where you can trim expenditures. You may find that you could be spending your money on something you really want.
Weekly Expenditure New Budget Actual Spending
Clothing $ $
Debt repayment (monthly payment + 4) $ $
Entertainment $ $
Food (including groceries, meals out,
and snacks) $ $
Rent and utilities (monthly payment + 4) $ $
Transportation (own car, ridesharing,
public transportation, etc.) $ $
Personal care items $ $
Other $ $
Total Weekly Expenditures $ $
7. Using your revised budget as a guide, record your income and expenses for another week. How much money were you able to save?

Answers

Answer:

a. Auto insurance - Expenditure

b. Clothing for school - necessity

c. concert tickets - luxury

d. Dinner for two at the newest - luxury

e. Restaurant in town groceries - expenditure

f. music downloads - luxury

g. medical treatment for strep throat - necessity

h. Theme park tickets - luxury

i. New car - luxury

j. Rent - expenditure

K. school lunches - necessity

l. school ski trip - expenditure

m. Cell phone service - necessity

Explanation:

2. Necessity is anything without which survival of a person is not possible. Luxury is anything which adds value to the living standard of a person but survival without such thing is possible.

3. My weekly income is $200

4. Clothing $20

Debt repayment $50

entertainment $30

Food $45

Rent and utilites $25

transportation $10

Personal care items $5

Others $3

total weekly expenditure $188

5. $200 - $188 = $12

6. Yes i have $12 as saving at the end of the week.

Auerbach Inc. issued 8% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $225 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 10%. Assuming that Auerbach issued the bonds for $255,366,000, what would the company report for its net bond liability balance at December 31, 2021, rounded up to the nearest thousand?

Answers

Answer:

Auerbach Inc.

For its net bond liability balance at December 31, 2021, the company would report:

= $253,482 (in thousands).

Explanation:

a) Data and Calculations:

Face value of bonds = $225,000,000

Price of bonds =           $255,366,000

Bonds premiums =         $30,366,000 ($255,366,000 - $225,000,000)

Maturity date = September 30, 2031

Maturity period = 10 years

Coupon interest rate = 8%

Effective interest rate = 10%

Payment of interest = Semiannually on March 31 and September 30:

December 31, 2021:

Interest expense = $6,384,150 ($255,366,000 * 10% * 3/12)

Cash payment =    $4,500,000 ($225,000,000 * 8% * 3/12)

Premium amortization = $1,884,150

Fair value of bonds payable = $253,481,850 ($255,366,000 - $1,884,150)

Spartan Credit Bank is offering 8.1 percent compounded daily on its savings accounts. You deposit $6,500 today. a. How much will you have in the account in 5 years

Answers

Answer:

FV = $9745.02838  rounded off to $9745.03

Explanation:

To calculate the amount of money in account after five years, we will use the formula for future value of cash flow. The formula is as follows,

FV = Present value * (1+i)^t

Where,

i is the annual interest ratet is the time in years

As we have annual interest rate of 8.1% but it is compounded daily, we will use 8.1%/365 in our formula to get daily rates. Move over as the compounding is done daily, we will take 365*5 days instead of 5 years.

So,

FV = 6500 * [1+(8.1%/365)]^(5*365)

FV = $9745.02838  rounded off to $9745.03

Other Questions
Find the equation of the parabola which has the given vertex V, which passes through the given point P, and which has the specified axis of symmetry. V(4,2),P(2,14), vertical axis of symmetry. Steph uses 18 Newtons of force to push a piano up a ramp. She uses a total of 900 Joules getting this piano into the moving truck. Calculate thedistance of the ramp. u dont have to explain Music can actually be helpful when dealing with chokingburnsCPRcuts Today, there are overin India.A. 1,500 different languages spokenB. 1,500 different gods worshipedC. 1,500 different religious groups Residual, a company that manufactures soda, offers its latest products at very low prices. Residual's strategy is based on the assumption that more customers will be willing to buy its products if they are offered at lower prices. Residual has adopted this strategy to attract a larger customer base and increase its sales volume even though it will only gain a small profit on each individual sale. In this scenario, Residual has implemented the _____ strategy. What is the following product of the cube root of 16 X to the seventh times the cube root of 12 X to the ninth Type the correct answer in the box. Round your answer to the thousandth place.The board of directors of a company knows that the probability that carbon emissions from the companys factory exceed the permissible level is 35%. They hire a consultant who uses a carbon footprint calculator to test the emissions level. The accuracy of the test is 85%.The probability that carbon emissions from the factory are within the permissible level and the test predicts the opposite to be true is . can anybody write me a descriptive writing about mother the richest poor man in the valley, how does the poet show he is happy and contented with life? asap Why do I neee to pay for awnsers now? Anna bought 3 types of fruit for a fruit salad. She paid three times as much for blueberries as for pears and $2.50 less for strawberries than for blueberries. If The total cost was $13.25 how much did Anna spend on each type of fruit How did the Franks get food and other necessities while in hiding?They snuck out at night to take supplies from a nearby grocery store Neighbors who noticed the hiding spot left supplies by the secret door. Several of Otto Frank's employees delivered supplies regularly. None of the above B. Absorbs waterC. Stores solid wastec. Soft GoupikB (D) Filter waste products from bloodCFD7. What system is composed of these five parts, heart, blood vessels, lymph vessels, bloodand lymph?A. Excretory SystemB. Lymphatic SystemC. Nervous SystemD. Circulatory System Which type of organism can obtain energy directly from any of the other organisms in an ecosystem? Sarah's religion states that she should wear a cloth covering over her hair but she doesn'tthink it is right for her to be forced to do so every day.Man Vs NatureMan Vs society Man Vs ManMan Vs Self Read the excerpt from "President Obama's Third Annual Back to School Speech."Those are all questions that date back to this class that I took back in 8th grade. And heres the thing: I still dont always know the answers to all these questions. But if Id have just tuned out because the class sounded boring, I might have missed out on something that not only did I turn out enjoying, but has ended up serving me in good stead for the rest of my life."What argument does President Obama make in this excerpt?A. Boring classes are just as important as interesting ones.B. Classes taken when young have a lasting impact on one's life.C. It is acceptable to do poorly in a class if you remember the material.D. Students should be open to new learning experiences.its on k12 Select the correct answer.Which element in a story is generally useful for descriptions of settings and feelings?A. metaphorsB. dialoguesC. narrativesD. charactersE. plot In the equation C H4 + O2 C O2 + H2 O, what are the products?A) C H4 + H2 OB) C O2 + H2 OC) O2 C O2 D) C H4 + O2 Exercise 515 In class, you have been discussing whether or not people should keep pets.Here are two comments from your dassmates:It's expensive to own a pet.Having a pet conbe good funWrite an article for your teacher, giving your views,The comments above may give you some ideas, and you can also use some ideas of your ownYour article should be between 150 and 200 words long,You will receive up to 8 marks for the content of your article, and up to 8 marks for the language