Which interest rate compounded annually is baker paying

Assignment Help Accounting Basics
Reference no: EM13116377

Q Full disclosure is desirable for all of the following reasons except 

it helps to prevent the inappropriate use of insider information 
it helps financial markets to operate more efficiently 
it helps financial markets to operate more cost effectively 
it eliminates the need for financial analysis 


Q. In the Management Report contained in the audited annual report, management acknowledges its responsibility for all of the following except 
preparing and presenting the financial statements 
correcting all internal control deficiencies prior to issuance of the financial statements 
designing and maintaining appropriate internal controls 
evaluating the effectiveness of the internal controls 


Q. Extensible Business Reporting Language (XBRL) 
is limited to the manual comparison of data reported in the SEC 10K report. 
is expected to complete the development of its system of "tags" for all U.S. GAAP in 10 years. 
enables recognition and extraction of items of information for various analytical purposes 
has been applied extensively by financial analysts for over 30 years 


Q. A difference between the segment disclosures required by IFRS and GAAP is that 
under GAAP, each segment's liabilities must be disclosed under certain circumstances, while under IFRS, liabilities by segment need not be disclosed 
under IFRS, each segment's cash balances must be disclosed under certain circumstances, while under GAAP, cash balances by segment need not be disclosed 
under IFRS, each segment's total assets must be disclosed under certain circumstances, while under GAAP, total assets by segment need not be disclosed 
under IFRS, each segment's liabilities must be disclosed under certain circumstances, while under GAAP, liabilities by segment need not be disclosed 


Q. On September 1, 2010, the Baker Company received $44,940 from 4-Most Finance Company. To pay off this loan, the Baker Company will have to pay 4-Most $10,000 each year for 10 years. The first payment is due September 1, 2011. Which interest rate compounded annually is Baker paying on this loan? 
12% 
15% 
18% 
24% 


Q. In the present value of an annuity table, the factors 
increase as the interest rates increase 
decrease as the periods increase 
remain the same as the periods increase 
decrease as the interest rates increase 


Q. On January 31, 2010, Richie Company acquired a new machine by paying $40,000 cash and agreeing to pay $20,000 annually for three years, beginning on January 31, 2011. Assuming an interest rate of 10%, Richie should record the acquisition cost of the machine on January 31, 2010, at 
$100,000 
$94,712 
$89,738 
$62,092 


Q. Paul's Painting Co. acquired a new $800,000 press on April 1, 2010. Paul's will make six equal payments based upon 8% compound interest, starting on March 31, 2011. How much will each payment be?
$504,136 
$173,056 
$160,234 
$109,052 


Q. An advantage of basing bad debt expense on the historical relationship between bad debts and net credit sales is that 
it provides the best estimate of the net realizable value of accounts receivable 
it provides the best information to the credit department to use in its collection activities 
it best adheres to the matching concept 
it considers the balance in the allowance account when making the bad debt expense estimate 

Reference no: EM13116377

Questions Cloud

Prepare a correct trial balance : Prepare a correct trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)
Prepare a differential analysis report : Prepare a differential analysis report, dated June 15 of the current year(2009), on whether the equipment should be leased or sold.
Compute the target cost of a cd player : Required:  Compute the target cost of a CD player. Loyola International, Inc. is considering adding a portable CD player to its product line. Management believes that in order to be competitive,
Accounting objective questions : accounting objective questions, Which of the following is a cash flow from operating activities? A cash inflow from financing activities includes?
Which interest rate compounded annually is baker paying : On September 1, 2010, the Baker Company received $44,940 from 4-Most Finance Company. To pay off this loan, the Baker Company will have to pay 4-Most $10,000 each year for 10 years. The first payment is due September 1, 2011. Which interest rate comp..
Examine the tension in the upper chain : Assume that the masses of the chains, pulleys, and ropes are negligible and the crate is rising with an acceleration of 2.9 m/s2. Determine the force also examine the tension in the upper chain.
Determine foreign operation functional currency : Sydney Corporation, an Australian-based multinational, borrowed 10,000,000 euros from a German lender at the beginning of the calendar year when the exchange rate was EUR.60 = AUD1.
What is the probability of event occurring : What is the probability of this event occurring if, in fact, the three cars shipped to dealer A were selected at random from the six produced?
Calculate the economic growth rate : The approximate number of years it takes for real GOP pee person in Japan (0 double if the real GDP economic growth rate returns to 3 percent a year and the population growth race is maintained

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.

  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!

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