Compute interest on loans receivables, Accounting Basics

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Compute interest on loans receivables

Mirna Gaymar, VP of operations for Rocky Mountain County Bank, has instructed the bank's computer programmer to use a 365-day year to compute interest on depository accounts (payables). Mirna also instructed the programmer to use a 360-day year to compute interest on loans (receivables).

-Discuss whether Mirna is behaving in a professional manner.

-Does this really make a difference?

-What would you do if you Mirna?

-What would you do if you were Mirna's supervisor?

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Accounting Basics: Compute interest on loans receivables

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Accounting Basics: Compute interest on loans receivables

Reference No:- TGS048440

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Which company is doing a better job

Q : Ace adjustments for each of the three years

Q : What are the tax consequences to terry

Q : Find largest total surplus that can be achieved

Q : Compute interest on loans receivables

Q : Compute tax wages for the year

Q : How will this sale affect bert''s 2013 agi

Q : Should baltic buy the new machine

Q : Financing charges and net present value

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute interest on loans receivables

Reference No:- TGS048440

Recent Questions Asked Accounting Basics

Q : Which company is doing a better job

Q : Ace adjustments for each of the three years

Q : What are the tax consequences to terry

Q : Find largest total surplus that can be achieved

Q : Compute interest on loans receivables

Q : Compute tax wages for the year

Q : How will this sale affect bert''s 2013 agi

Q : Should baltic buy the new machine

Q : Financing charges and net present value

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