Homework Help is Here – Start Your Trial Now!
Business
Accounting
On 01.10.2019, the enterprise opened a time deposit account at Ziraat Bank with a maturity of 9 months, amounting to TL 500,000. The annual interest rate is 20% and the principal is transferred to the demand deposit account of the enterprise in the same bank together with the interest at the end of the maturity. (Financial statements will be prepared annually and the tax rate is 15%) . According to this, what is the amount of net interest income to be obtained by our business at the end of maturity?    a) 75.000 TL  B) 63,750 TL  NS) 11,250 TL  D) 25.000 TL  TO) 50,000 TL

On 01.10.2019, the enterprise opened a time deposit account at Ziraat Bank with a maturity of 9 months, amounting to TL 500,000. The annual interest rate is 20% and the principal is transferred to the demand deposit account of the enterprise in the same bank together with the interest at the end of the maturity. (Financial statements will be prepared annually and the tax rate is 15%) . According to this, what is the amount of net interest income to be obtained by our business at the end of maturity?    a) 75.000 TL  B) 63,750 TL  NS) 11,250 TL  D) 25.000 TL  TO) 50,000 TL

CONCEPTS IN FED.TAX.,2020-W/ACCESS
CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 61P
See similar textbooks
icon
Related questions
Question

18-

On 01.10.2019, the enterprise opened a time deposit account at Ziraat Bank with a maturity of 9 months, amounting to TL 500,000. The annual interest rate is 20% and the principal is transferred to the demand deposit account of the enterprise in the same bank together with the interest at the end of the maturity. (Financial statements will be prepared annually and the tax rate is 15%) .

According to this, what is the amount of net interest income to be obtained by our business at the end of maturity?

  
 a)

75.000 TL
 B)

63,750 TL
 NS)

11,250 TL
 D) 25.000 TL
 TO) 50,000 TL
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost of Credit
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS