Find simly interest earn

Q: You have taken a loan of $88,000.00 for 30 years at 4.1% compounded quarterly. Fill in the table…

A: Solution:- Given, Loan = $88,000 Life time = 30 years Compounded quarterly  at 4.1%

Q: Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is…

A: Total Sales =  P1,200,000 Cash Sales = 40%

Q: nuary 1, 2008, Grate Company (as lessc Barrell Company for machinery which v- 0,000 and had a market…

A: In the given question, Grate Company gives Barrell Company a machinery at $4,530,000 with the market…

Q: Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sales.…

A: Accounts Receivable Accounts receivable is considered to be one of the main sources of revenue which…

Q: compounded monthly is now $2,997.78. How much of this amount is principal and how much is interest?…

A: Future value of amount is value of principal amount and interest while present value is amount of…

Q: On October 1, Black Company receives a 6% interest-bearing note from Reese Company to settle a…

A: Interest revenue = Accounts receivable * Rate of interest * Month / 12

Q: A 90-day, 10% note for $10,000 dated March 15 is received from a customer on account. The face value…

A: The face Value of the note is the amount at which the note is issued. It is the Principal Amount.

Q: Installment accounts receivable, 1/1/09 755,000 Installment accounts receivable, 12/31/09 840,000…

A: Installment Sales: Installation contracts are a kind of purchase agreement in which the customer…

Q: At the end of March, account balances are: 190 Def. VAT: 20.000 TL. 191 Ded. VAT: 30.000 TL, 391…

A: VAT:-VAT stands for Value-added tax. It is considered as the consumption tax that is placed on a…

Q: Debit (Peso) Credit (Peso) 477 850.00 Accounts Notes Payable, due after 10 years Prepaid Rent Chen,…

A: Introduction: Balance sheet: All Assets and liabilities are shown in balance sheet. It tells the net…

Q: h. Vacation pay expense for December, $10,500. Description Debit Credit i. A product warranty was…

A: A journal entry is prepared in order to record the business monetary transactions in the books of…

Q: Use the following to answer questions 28 – 30 The company lent $100,000 on September 1, 20XA at 3%…

A: Interest revenue = Amount lent x rate of interest x No. of months / 12

Q: JYD Accounting Firm pays its employees at a rate of P50/hr. The tax and other deductions amount to…

A: Gross pay of the employees means amount of earnings gained by the employee either on the basis of…

Q: 1/1/x1 borrowed 100000 for 4 years at 8% assume quarterly prt=$5892 1)loan pament 2)journal entries…

A: Loan payment refers to paying back to the bank or institution from which one has borrowed the…

Q: The following is the PT ABC Balance Sheet PT ABC Trial balance 31 December 200X             Debit…

A: Notes Payable:-When the borrower's promise is written to pay some amount to the lender at a specific…

Q: A loan of $15,752 was repaid at the end of 17 months.What size repayment check (principal and…

A: using excel pmt function to calculate the repayment size =PMT(rate,nper,pv,[fv])

Q: Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is…

A: Average amount of account Receivable = Days of sales outstanding x Sales / 360 Days of Sales…

Q: At 30 June 20X2 a company had $1m 8% loan notes in issue, interest being paid half-yearly on 30…

A: We have the following information: At 30 June 20X2 a company had $1m 8% loan notes in issue,…

Q: Question 3 A debt of $15000 is reped i arterly installments of $4200 ferest is 9 compounded…

A: The amortization schedule shows the payment structure of the repayment of the loan amount. It…

Q: Principal $12,000, Interest Rate 9%, Time 240 days (use ordinary interest)   Partial payments:  On…

A: Interest rate is the average amount of interest for the term of the loan that a creditor owes on a…

Q: The company invested $200,000 on April 1, 20XA at 4.5% simple interest for 2 years (24 months). 23.…

A: The company has invested $ 200,000 on April 1, 20XA at 4.5% simple interest p.a. for 24 months'…

Q: capital accounts at the beginning of each year and after char salaries at the rate of RO 8,000; RO…

A: Machinery Manufactures Trading Account…

Q: Bingo Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash…

A: Total sales = P1,200,000 Cash sales = 40%

Q: The following is the PT ABC Balance Sheet PT ABC Trial balance 31 December 200X             Debit…

A: Adjusting journal entry: To record any unrecognized income or expenses for the period company made…

Q: principal 12,000, interest 9%, date borrowed April 5, date repaid April 9, what is the number of…

A: Principal = 12000 Interest rate = 9% Period from April 5 to April 9 = 4 Days

Q: On 1/11/10, Carpet Company borrows $60,000 from National Bank on a 3-month, 8% note. The amount of…

A: Working Note; Annual Interest = Value of Note x Interest rate                          = $60,000 x…

Q: Journalize the following transactions:

A: Product warrenty expense = Sales x Estimated percentage of liability = $7,760,000 x 1.5% = $116,400

Q: (d) BB&T offers an account with 5.69 % interest compounded quarterly. APY = Number (e) Navy Federal…

A: APY or annual percentage yield is the actual rate of return earned on the investment

Q: Accounting for Warranties, vacation, and bonuses McNight Industries completed the following…

A: Employee Bonus  = Net income x (bonus rate /(1+bonus rate)) =  $52,000*3/103 = $1,515

Q: Complete the table. Principal (P) Php 70,000 Php 48,000 Php 50,000 Principal (P) Php 30, 000 Php 40,…

A: The compound value is computed by using the following formula: Compount Value=Principal×1+interest…

Q: 5,000 is borrowed for 6 months at 3%, what is the interest a. 5050 b. 5,100 С. C. None of them

A: Borrowed Amount = $5,000 Time period = 6 months  Interest rate = 3%

Q: Lux Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five percent of…

A: Sales per day = Total sales / 360 Sales per day = P900,000 / 360 Sales per day = P2,500 Days' sales…

Q: Interest of $1,632 with principal of $16,000 for 306 days (ordinary interest) results in a rate of:…

A: Interest = $1632 Principal = $16000 Period = 306 days

Q: GPS Company estimated annual warranty expense at 8% of net sales. The following data relate to the…

A: Warranty Expense = 8% of Net sales  Warranty Liabilities  Before adjustment - 100,000 Debit  After…

Q: 9. Received P10,000 cash from loan with BPI The loan have a simple interest of 10% in 1 year and to…

A: Under balance sheet approach, the payment/ receipt is debited/credit to balance sheet account and…

Q: NEKO Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash…

A: Calculation of days of sales outstanding   = 30% x 20 = 6 days    Calculation of credit sales =…

Q: The interest accrued on $7,500 at 6% for 90 days usi

A: Interest means the extra amount which we received because of investment made. It is assumed that…

Q: The company invested $300,000 on September 30, 20XA at 4% for 4 months. Determine interest revenue…

A:

Q: Max Wholesaler borrowed $3,000 on a 8%, 120-day note. After 45 days, Max paid $1,050 on the note.…

A: Under U.S rule interest is calculated only on the unpaid principal balance and no compounding of…

Q: Given Principal $21, 000, Interest Rate 11%, Time 240 days (use ordinary interest) On 100th day,…

A: Data given: Let P= Principal = $21,000 r= Interest rate = 11% t= Time = 240 days Partial payment =…

Q: June 20 Paid a trade account payable with a 90-day, 9 percent $60,000 note. Intei X is in addition…

A: Interest Expense for 10 days shall be recorded in the adjusting entry on June 30 The remaining…

Q: 4. A loan was made 3 years and 4 months at 12% simple interest rate. The principal amount of loan…

A: Present value is the sum of money of future cash flows today whereas future value is the value of…

Q: Tax due P100,000 Is 60 days past due. Compute the Interest and surcharge. Use 365 days.

A: On late payment of tax due, Surcharge shall be charged at 25% of the amount due and Interest @ 12%…

Q: a company borrowed 12,000 by signing a 120 day promissory note at 15% the total to be paid at…

A: Formula: Interest amount = Principal amount x Interest rate x Time period.

Q: Given:account balance:$5,000;account APR=17%   please help with 5-8 5. what is the dollar amount…

A: Principal balance = $5,000 Rate of interest = 17.00% Monthly rate = 1.4167% (17.00% / 12) Number of…

Q: RM500 was deposited every quarter into an account at 5% compounded quarterly. Find the number of…

A: A borrower of a loan pays the interest expenses along with the principal payment to the lender…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.