What is the accrued interest using the 30/360-day count convention?

Q: Determine the number of months (rounded off to the nearest month) required for a deposit of $2968.84…

A: Here aked to calculate time for deposit in months.  Interest = principal amount* rate* time

Q: What is the due date of a 220-day loan made on Feb. 12? Group of answer choices Sep 20 Sep 21 Aug…

A: Given that  Starting date of loan = 12th Feb  When counting a time period, both the start date and…

Q: Name Principal Interest Term (in Total months) Interest amount to be paid Total rate to be paid…

A: Total interest to be paid is the amount paid by the investor on the principal at an interest rate…

Q: credit terms : EOM. When will be the maturity period if purchase Feb 19?

A: >Credit terms are 'terms' used during a purchase - sale transaction. >Its a part of purchase -…

Q: What is equivalent annual annuity (EAA) method?

A: Equivalent annual annuity (EAA): Equivalent annual annuity measures the annual payments a scheme…

Q: Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round…

A: Ordinary Interest: Ordinary Interest is computed based on the 360 days per year (or 30 days a…

Q: The amount of interest expense recognized in March, rounded to the nearest dollar, would be: 1)…

A: Formula

Q: An invoice is dated may 22 with terms 4/18 EOM, Assuming the net date is 20 days after discount…

A: EOM meand end of the month.

Q: Determine the exact and ordinary simple interest on 500 for the period from Jan 15 to December vear…

A: Interest is the total amount earned on investing particular amount of money. It can be simple…

Q: 1. For each note below, calculate and record the maturity date and interest.

A: Notes Payable is a written agreement under which one party agree to pay the other party after the…

Q: Determine the maturity date of the loan (not in a leap-year). Loan Date Time of Loan (days) Maturity…

A: The maturity date is the date on which the final payment of the loan is due. At the time of…

Q: Determine the number of days from Actual Time to Approximate Time Loan date - July 31, 2021 Due…

A: Actual days are the number of actual days in a month e.g. April - 30 days, may - 31 days.…

Q: 11. Noncurrent receivables as of December 31, 2020 12. Current portion of long-term receivables as…

A: Long term receivables: Long term receivables are non-current assets which reflect the amount of…

Q: What is the monthly interest payment for an account with a balance of $100.00 and an A.P.R. of 12%?…

A: Loan balance = $100 Interest rate = 12% Monthly interest rate = 12%/12 = 1%

Q: Calculate:  a.  Average Receivable days/ Debtors collection period b. Average Payable days/…

A: Solution:- a) Calculation of Average Receivable days/ Debtors collection period as follows:- Average…

Q: What is the APR if the monthly rate of interest a credit card company charges on outstanding…

A: Given: Monthly rate = 1.62%

Q: te the future value of #1 & 2 and Interest Mode of Rate Payment Monthly 3.2%

A: Given information : Principal Interest rate Mode of payment Tenure 1500 3.20% Monthly 5 3000…

Q: Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal…

A: Interest refers to the amount of money paid on regular basis at specified rate for the use of money…

Q: Record the second semiannual interest payment. Note: Enter debits before credits. Date General…

A: Journal Entry: A journal entries is a record of the business transactions within the accounting…

Q: What is the ordinary interest on P1,350.75 for 163 days at 3.5%?

A: Ordinary interest is the amount of interest earned on investment. This method takes 360 days in…

Q: Compute interest and find the maturity date for the following notes. (Round answers to O decimal…

A: The interest amount is calculated by multiplying the principal with the interest rate and time…

Q: Assuming a 360-day year, when a $12,750, 90-day, 11% interest-bearing note payable matures, total…

A: Note payable is a written agreement(like a promissory note) in which one party agrees to pay the…

Q: The interest due at maturity on a $489.52, 8% note, dated May 28 and due August 2 is

A: Principle = $48952 Rate = 8% Number of days = 66

Q: a) How many payments will Locust Inc. have to make? b) How much interest is included in the 16th…

A: Loan amortization refers to a schedule which is prepared to shows the periodic loan payments, amount…

Q: e maturity value (principal plus interest) of the note on March 1?

A: Given that, Interest rate = 8% Face value of note = $21600 As on March 1, 120-days will be elapsed…

Q: 2. credit terms :5, 1/15, n/45. When will be the maturity period if sold Feb 19?

A: solution concept credit term :5,1/15,n/45  means that if the amount is paid within 15 days from date…

Q: Uniform series transactions involve some uniform amount either being deposited or withdrawn at the…

A: Deposits are transactions involving transfer of money to another party (generally a bank) for…

Q: An amount of 5 million is placed on deposit from 17 August to 31 December at 6.7%. What would be the…

A: ACT/365, ACT/360, and 30/360 basis are different day/year conventions used to calculate interest…

Q: why do we need to divide 55 days to 365 days for the net recievables and net payable

A: Net Receivables: Net receivables are the total amount of money owing to a firm by its customers…

Q: rnalize the entry to record the amount of rnalize the entries to record the following The first…

A: The answers have been mentioned below.

Q: Maturity Value (in $) Rate Time Interest Principal Interest (%) (days) Method $3,100 % 167 Exact…

A: Interest expense: It is the interest which is incurred by the organization on the debt taken by it.…

Q: Determine the due date and amount of interest due at maturity on the following notes: Origination…

A: a. Interest amount = Face value of bonds x rate of interest x No. of days / 365 days = $8,000 x 8% x…

Q: Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days.…

A: INTEREST = PTR / 100 INTEREST = $1,575 P = PRINCIPAL T = 0.5 YEARS OR 6 MONTHS R = 9%

Q: What is the ordinary interest on P1,350.75 for 163 days at 3.5%? php?

A: Ordinary interest is calculated on the basis of 360 days a year or 30 days a month whereas exact…

Q: ompute the interest accrued on each of the following notes Jse 360 as the denominator when…

A: Solution: Maker Principal Interest rate Term (Days) Accrued Interest Maple 18000 10% 120 600…

Q: How would an annual bonus paid at year-end be treated under IAS 34 and how does this treatment…

A: Under IAS 34 year-end bonus varies in a wide range. Some of them are regularly earned in the…

Q: Find the exact interest and the final amount due on  P 12,350 at 11 % for 150 days, using ordinary…

A: Simple interest = Principal * Rate * Time Simple interest = P 12,350 * 0.11 * 150/365 Simple…

Q: Maturity Value (in $) Rate Time Interest rincipal Interest (%) (days) Method $3,500 168 Exact $220…

A: Solution: Maturity value = principal + interest  = 3500 + 220  = $3,720

Q: A. Amount of interest charge for each note B. Amount boweower would receive C. Amount payer would…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: W TO Find the refund fraction for the interest refund.

A: Some time the loans are paid before the day of expiration of loan than we need to find out the…

Q: Find the finance charge for the givevn charge account given in the table. Assume interest is…

A: Average daily balance = $431.64 Annual percentage rate = 12 * Monthly interest rate = 12.96% Billing…

Q: Determine the exact simple interest on P 5,000.00 for the period from June 10 2015 to November 21,…

A: Simple Interest is calculated using the following formula: = Principal * Rate * Time

Q: 5. What amount should LINGATONG report as accrued interest receivable at December 31, 2021?

A: Lingatong Company Receive P10,000  Accrued Interest Receivable at 31st Dec,2021 is Interest Expense…

Q: What is the ordinary interest on P1.500.50 for 182 days at 5.2%?

A: Principal amount = P 1,500.50 Period = 182 Days Interest rate = 5.2% Days in an ordinary year = 360…

Q: The exact simple interest on P450 for the period from January 10, 2004 to a "specific date" is P…

A: Exact simple interest is P450 Start date is January 10, 2004 Interest amount is 70.22 Interest rate…

Q: Calculate the allowance ratio for the year ending 30 June 2020. Assume the number of days in the…

A: Allowance Ratio considering : Beginning Allowance is numerator and  Current Year's Accounts…