User Account

All Pages

What is benz interest income for year

Assignment Help Accounting Basics
Reference no: EM132166227

Question - On May 1, Year 1, Benz's Sandwich Shop loaned $20,000 to Mark Henry for one year at 7 percent interest.

Required -

a. What is Benz's interest income for Year 1?

b. What is Benz's total amount of receivables at December 31, Year 1?

c. How will the loan and interest be reported on Benz's Year1 statement of cash flows?

d. What is Benz's interest income for Year 2?

e. What is the total amount of cash that Benz's will collect in Year 2 from Mark Henry?

f. How will the loan and interest be reported on Benz's Year 2 statement of cash flows?

g. What is the total amount of interest that Benz's earned on the loan to Mark Henry?

Reference no: EM132166227

Questions Cloud

Give one or two examples of organizations or businesses : Give one or two examples of organizations or businesses and briefly talk about how having a business continuity plan helped them succeed during a crisis
Technology problems faced by customers of online retailer : Discuss four potential technology problems faced by customers of an online retailer
Which of the following is a main regional trading? bloc : 1) Which of the following is a main regional trading? bloc?
Share your ideas with your classmates about the shift : Cardiology Associates is not certain whether all of the VP's claims of the benefits of this new method are true.
What is benz interest income for year : On May 1, Year 1, Benz's Sandwich Shop loaned $20,000 to Mark Henry for one year at 7 percent interest. What is Benz's interest income for Year 2
Policies currently proposed to address that challenge : 1) Please discuss one U.S. or global challenge to the public healthcare system and any policies currently proposed to address that challenge
Have they recently been fined for lack of compliance : Have they recently been fined for lack of compliance? Are their stocks fluctuating or holding steady?
What training methods does your organization use : Does your organization use e-Learning? What training methods does your organization use? Are your organization's training methods effective?
Explain importance of information in organisations like UMP : Broadly explain the importance of information in organisations like UMP and provide an example of how information technology can be a useful tool for attracting

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd