Implied annual interest rate inherent in credit terms

Reference no: EM13144332

Farewell company purchased merchandise with an invoice price of $2000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms?

Reference no: EM13144332

Questions Cloud

What charitable contrubution deduction : The trust had DNI of $25,000. What charitable contrubution deduction, if any, may the trust deduct? Is the trust a simple or complex trust in 2010? Is the trust a simple or complex trust in 2010?

Write a two to three : Write a two to three (2-3) page paper in which you:1. Briefly describe your like or dislike (one to two (1-2) sentences).

Compute rate constant : Calculate rate constant for 1. level reaction where 81% of the matters have already react after 27 seconds.

Explain to your client the significance of the income : As a CPA, explain to your client the significance of the income and principal categorization scheme used for fiduciary accounting purposes. Also, use this thread to discuss the current events on the Bush Tax Cut expiration, the alternatives and ..

Implied annual interest rate inherent in credit terms : Farewell company purchased merchandise with an invoice price of $2000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms?

Illustrate the entire audit process with a short example : Illustrate the entire audit process with a short example of each phase. Determine which phase of the audit process you feel is the most important. Defend your selection.

Shares of common stock of long corporation : Cayuga Meadows purchased 42,000 shares of common stock of Long Corporation as a long-term investment for $1,000,000. During the year, Long Corporation reported net income of $500,000 and paid dividends of $200,000.Instructions:

What is the difference between volume-based cost drivers : What is the difference between volume-based cost drivers and activity-based cost drivers? Why do activity-based cost drivers provide more accurate allocations of overhead in an automated manufacturing environment? Briefly describe the activity-ba..

What is the net amount of property-plant and equipment : What is the net amount of property, plant, and equipment that will appear on the balance sheet?

User Account

All Pages