BUS 038 : Business Computations 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate (a) the last day of the discount period, and (b) the last day of the credit period. b. Last day of credit period:

BUS 038 : Business Computations 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate (a) the last day of the discount period, and (b) the last day of the credit period. b. Last day of credit period:

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2Q

See similar textbooks

Related questions

Q: QUESTION 2 A machine will have a cost of $35 thousand, 5 years from now. Find the present worth (PW)…

A: Concept. 1. Pw = Fv ÷ (1+r)n Where Pw = present worth Fv = future worth r…

Q: An investor has $633,000 to invest in bonds. Bond A yields an average of 8% and the bond B yields…

A: Linear programming Solver of excel under 'Data' tab provides the solution of linear programming.…

Q: Commercial bank A lends £1,000 to Mr B, who withdraws the money in cash to buy equipment for his…

A: Commercial bank is referred to as the financial institution kind, which carries all the operations…

Q: Chrisine Looks for a Way to Invest Her Newfound Wealth Christine Norton-Hines is a young Hollywood…

A: Concept. 1.Net profit % =( net profit ÷ sales) × 100 2. PE ratio is price earnings ratio . PE ratio…

Q: d help with this multiple st

A: Option is in the money only when exercise price is less than current market price.

Q: The Johnson Research Organization, a nonprofit organization that does not pay taxes, is considering…

A: NPV stands for net present value of net benefits that will accrue throughout the project's lifetime.…

Q: Alan borrows $100,000 at nominal interest rate 9% per annum which matures in 5 years. Repayments are…

A: Standard Disclaimers: “Since you have posted a question with multiple subparts, we will solve the…

Q: A couple buys a $150000 home, making a down payment of 23%. The couple finances the purchase with a…

A: A mortgage is a sum of money acquired from outside sources such as banks for a defined length of…

Q: Sheehan Corp. is forecasting an EPS of P3.00 for the coming year on its 400,000 outstanding shares…

A: The Capital Structure consists of different sources of funds which are mainly used for financing the…

Q: Question 1: In the table below you are given the details of the put and call options on the shares…

A: Call option holder A call option gives its holders the right to purchase the shares at the exercise…

Q: Question Content Area There are two projects under consideration by the Rainbow factory. Each of the…

A: Net present value: It is a project evaluation and analysis technique in which a project that has a…

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: Time period is 26 years Borrowed amount is $112,000 Interest rate is 5.9% Compounded monthly To…

Q: You are considering an investment in a mutual fund with a 4% load and expense ratio of 0.5%. You can…

A: Concept. Mutual fund is professionally managed fund. Hence various expenses are incurred to manage…

Q: How long does it take for an investment to double in value if it is invested at 5% compounded…

A: We assume that:Investment = 100 Future Value = Double of investment = 200 Interest Rate = 5%…

Q: The home buyer is planning their basic towel assortment for the fall season. The sales plan is…

A: The Basic Stock approach of inventory planning establishes a consistent baseline level of inventory…

Q: One-year zero coupon Treasury strips with a face value of $1000 are currently selling for 956 30/32.…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Identify two distinguishing characteristics of banks. Discuss each briefly, including the impact on…

A: A bank is a type of financial institution that is allowed to take deposits and provide loans.…

Q: A stock is currently trading for $40 per share. The stock will pay no dividends. The annual…

A: Standard disclaimers “Since you have posted a question with multiple subparts, we will solve first…

Q: Suppose a company’s equity is currently selling for $37 per share and that there are 2 million…

A: The proportion of weightage obtained from the Equity stock capital source is the weight of Equity…

Q: Suppose that ABC Inc. has a leverage ratio (debt to asset) 0.5. It has a beta of 1.2. The risk-free…

A: The Capital Structure consists of different sources of funds which are mainly used for financing the…

Q: What is stock receipt? What consideration should be taken in the stock receipt?

A: Receipts are a legal document that serves as documentation of a financial transaction or purchase.…

Q: Comment on Stock Inspection?

A: A stock (also identified as equity) is a type of security that represents ownership of a portion of…

Q: Directions: Rezad and solve the problem below by using the Net Present Value Method. A firm is…

A: Cost of Capital is 9% To Find: NPV

Q: counting class I am learning to find accounting rate of return. To solve for this I subtracted net…

A: Since there are multiple sub parts are given , so as per answering guidelines we do only first…

Q: Do-Well bonds have a face value of $1,000 and are currently quoted at 895. The bonds have an 8…

A: Formula Current yield = Annual coupon payment/Bond price Where Annual coupon payment = Face…

Q: What is the lower bound for the price of a 6 month American put option on a stock when the stock…

A: Given: Particulars Amount Stock price $15 Strike price $20 Risk free rate 5% Dividend $1

Q: why would using a single WACC not be appropriate for valuing an LBO?

A: Leveraged Buyout (LBO) It is an acquisition in which the primary source of consideration is debt.…

Q: Sydney is considering making a monthly investment for her son who will be five years old on his next…

A: In order to calculate the amount in the account immediately after the final payment has been made,…

Q: A$180,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Yolanda borrows $70,000 to buy a BMW. The dealer charges her an APR of 5%, compounded monthly, and…

A: Borrowed amount (PV) = $70,000 Interest rate = 5% Monthly interest rate (i) = 5%/12 =…

Q: 5.00. How much was loaned at each rate?

A: Loan: It is the sum of the amount borrowed by the borrower from the lender. The borrower pays…

Q: The DB stock currently sells for 185 kr. A one-year put option with strike price 200 kr has a…

A: Price of call option can be calculated from the put call parity equation assuming that the no…

Q: A mutual fund has $400 million worth of stock, $500,000 in cash, and $1 million in other assets. The…

A: Mutual funds refer to one type of financial vehicle that pools money from many investors and invests…

Q: Billingham Packaging is considering expanding its production capacity by purchasing a new machine,…

A: Given, Sales revenue (YEAR 1-10) = 10.05 million or 10,500,000 COGS…

Q: Assume that Domino's Pizza Enterprise is a constantly growing company with a 5\% growth rate. Today…

A: The last year dividend (D0) can be calculated with the help of dividend discount model

Q: what rate compounded continuous would you earn?

A: Future Value: It represents the future worth of the current sum of amount and is estimated by…

Q: Do you mind writing the formula for the monthly payment in another way?

A: Here, The loan amount is P. The periodic payment is PMT. The annual rate of interest is r. The…

Q: As a mine engineer you were asked to design the mine water treatment plant system al considerations…

A: EAC equivalent annual cost is the annual cost that is equivalent to the all cost of equipment that…

Q: An investor who owns a interest rate swap pay six-month LIBOR and receive 2.38% (semi-annual…

A: Here, Notional Principal is 99 million Euro Receive six month LIBOR of 2.38% with semi annual…

Q: 10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last…

A: Since you have posted a question with multiple questions, we will solve the first one for you. If…

Q: You are trying to pick the least-expensive equipment for your manufacturing operations. You have two…

A: Cost of capital = 10% Year Hi-Quality CFs Lo-Quality CFs 0 $ -40,000.00 $ -20,000.00 1…

Q: r pipeline system is installed in an industrial site that requires ₱12,500,000 initial investment.…

A: Capitalized cost of project are present value of all cost that would occur in future over the period…

Q: Sydney limited draws a promissory note with a face value of $50 000 and a maturity of 181 days. The…

A: Interest rate can be calculated as: = Discount amount / Present value * 365/ Days to maturity * 100

Q: IRR: Mutually exclusive projects Nile Inc. wants to choose the better of two mutually exclusive…

A: Given, Two projects. Project X and project Y. Initial investment of project X is $500,000 Initial…

Q: The Woodruff Corporation purchased a piece of equipment three years ago for $230,000. It has an…

A: If the asset was purchased three years ago for $230,000 and falls under 5-years MACRS depreciation…

Q: Find the finance charge on June 4 for the data given below. There is a previous balance of $230 (on…

A: Finance charge is an additional amount which is charged on borrowed amount on the basis of time and…

Q: You expect to receive the following: $4,448 $22,900 $3,813 $843 $10,528 at the end of each year for…

A: Given: Year Particulars Amount 12 Annuity $4,448 0 Current value $22,900 6 Future value…

Q: Consider a 12%, 15 year bond that pays interest semiannually, and its current price is $675. What is…

A: Yield to maturity is the rate of return a bondholder will get if receive promise future cash flows…

Q: Both call and put options are affected by the following five factors: the exercise price, the…

A: Put Option:- It is an financial instrument that gives right to sell but not the obligation to sell…

Q: True or False 1. In equity financing, the corporation is the investee, while the stockholders are…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Question

BUS 038 : Business Computations
9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods
on July 23, calculate
(a) the last day of the discount period, and (b) the last day of the credit period.

b. Last day of credit period:

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300. Shipping charges are $100. The terms of the sale are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the seller record for these transactions?
Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
Review the following transactions and prepare any necessary journal entries for Tolbert Enterprises. A. On April 7, Tolbert Enterprises contracts with a supplier to purchase 300 water bottles for their merchandise inventory, on credit, for $10 each. Credit terms are 2/10, n/60 from the invoice date of April 7. B. On April 15, Tolbert pays the amount due in cash to the supplier.
Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. a. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, 1,875.34; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid 93.80 for shipping. b. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, 135.78.
On January 1, Incredible Infants sold goods to Babies Inc. for $1,540, terms 30 days, and received payment on January 18. Which journal would the company use to record this transaction on the 18th? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the inventory for a full refund, and received an allowance for $65, how much discount would be applied if the customer remitted payment within the discount window?
On March 24, MS Companys Accounts Receivable consisted of the following customer balances: S. Burton 310 A. Tangier 240 J. Holmes 504 F. Fullman 110 P. Molty 90 During the following week, MS made a sale of 104 to Molty and collected cash on account of 207 from Burton and 360 from Holmes. Prepare a schedule of accounts receivable for MS at March 31, 20--.