FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Justine Company received the proceeds of P48,750 from discounting a P50,000, 90-day note at Metrobank. The discount rate used by the bank in computing the

Justine Company received the proceeds of P48,750 from discounting a P50,000, 90-day note at Metrobank. The discount rate used by the bank in computing the proceeds was*

A) 10.00%

B) 6.25%

C) 9.75%

D) 10.26%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Leading And Collaborating In A Competitive World

Management Leading And Collaborating In A Competitive World

Authors: Thomas S Bateman, Scott A Snell, Robert Konopaske

15th International Edition

978-1265051303

Students also viewed these Accounting questions

Question

★★★★★
For the last six years, Corporation Vs AMTI has exceeded its regular taxable income, but it has never paid AMT. Can you explain this result?

Answered: 1 week ago

Question

★★★★★
=+c) Find a prediction based on a 2-point moving average. How does it compare with the AR model?

Answered: 1 week ago

Question

★★★★★
Given the following four cost behaviors and expected levels of cost-driver activity, predict total costs: 1. Fuel costs of driving vehicles, $0.40 per mile, driven 16,000 miles per month 2. Equipment...

Answered: 1 week ago

Question

★★★★★
10. Julian was given a gold coin originally purchased for $1 by his great -grand father 50 years ago. Today the coin is worth $450. The rate of return realized on the sale if this coin is...

Answered: 1 week ago

Question

★★★★★
Capital structure refers to the following. Multiple Choice it refers to the fact that the balance sheet must be structured to have assets equal debt plus equity. It is the structure of how debt and...

Answered: 1 week ago

Question

★★★★★
I. Suppose that there are only 10 individuals in the economy each with the following utility function over present and future consumption : U (c1, c2) = c1 + 2 / 3 c2, where c1 is consumption today,...

Answered: 1 week ago

Question

★★★★★
QUESTION 10/12 Company A's total royalty expenses for a specific product vary based on the total revenue (dollars in thousand), shown as below: Which of the following statements is correct? 1 point...

Answered: 1 week ago

Question

★★★★★
The relativistic Doppler shift causes the light from a distant galaxy to be blue shifted by 5%. What is the speed of the galaxy relative to the earth?

Answered: 1 week ago

Question

★★★★★
#3 #2 HOMEWORK #1 #1 Figure 1 Price Supply and Demand Suppose you have a demand curve for McDonalds Big Macs. Show the impact graphically (draw the graph) to illustrate the impact of each of the...

Answered: 1 week ago

Question

★★★★★
Sandhill Tar and Gravel Ltd. operates a road construction business. In its first year of operations, the company won a contract to build a road for the municipality of Cochrane West. It is estimated...

Answered: 1 week ago

Previous Question Next Question