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Suppose that on Jan 1 you lend $50,000 to a bank (deposit $50,000 in a savings account). The savings account is paying 4% annual interest rate paid quarterly. 1. Use the simple interest rate formula: PV = FV/(1+i) to calculate the interest rate that you actually received. In banking jargon the 4% shown above is called the interest “rate” and what you are calculating here is called the “yield”. 2. The difference between the interest “rate” and the “yield” is due to compounding; that is, how often the interest is paid. Since it is paid in the spring the July interest payment includes interest paid on the April interest. If the interest is paid more often, say monthly, will the yield be higher or lower or unchanged? 3. Calculate the yield if interest is compounded monthly.
To evaluate whether the system of internal accounting control operated efficiently to minimize errors of failure to invoice a shipment, the auditor could select a sample of transactions from the population shown by the
Effect of capital structure on companies value per share - market-value balance sheets, assuming the capital structure before recapitalization. Please complete the worksheet for the recapitalization alternative.
Explain factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned to expense for financial reporting purposes.
Explain how would you design the procedures to prevent the keying error in regards to payroll procedures and is there a way to automate this process?
What are two groups of financial statements mandated by GASB Statement No. 34? For each group, what are the names of the individual statements that must be produced?
Computation of trend analysis for analysis financial statement - Using 2005 as the base year, prepare a trend analysis on the above data and tell whether the results suggest a favorable or unfavorable trend and why.
Evaluate the EPS disclosure that will appear in the December 31, X1 annual report.
Kuong purchased the building in 1996 for a cost of $1.4 million and had deducted $538,000 MACRS depreciation through date of sale. How much gain will Kuong have and what is its character?
The partnership also assumed a $12000 note payable owed by Robert that was originally used to purchase the equipment. Illustrate what amount should Robert's capital account be recorded?
Purpose all the journal entries for the above transactions for 1 st July 2010 to 30 June 2011.
Evaluate the unit product cost of each product for the current period and Carroll Company manufactures two products, Product DRT and Product CRT.
Identify the differential, avoidable or relevant costs associated with the sourcing location for a call center for Bank of America? Illustrate what are the qualitative costs? Which ones are more important?
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