ABC Corp. received a 2-month, 8% per year, $1,500 note receivable on December 1. The adjusting entry on December 31 will include a ______. Multiple choice question. debit to Interest Revenue of $10 debit to Interest Receivable of $10 credit to Interest Receivable of $20 credit to Interest Revenue of $120
Answers
Answer:
debit to Interest Receivable of $10
Explanation:
In the first place, at the end of December, it would have been a month since the note receivable was received, which means that the interest for 1-month would have become due, in other words, the interest for 1 month is computed thus:
interest due=8%*1/12*$1,500
interest due=$10
The interest has not been received, the claims that the other party owes us $10 means that we would debit interest receivable with $10(asset) and we would credit interest revenue (income) because an increase in the asset is a debit entry whereas an increased income would have a credit entry.
As a result, the correct option has a value of $10 and a debit to interest receivable since there is no credit to interest revenue in the option
Answer: debit to Interest Receivable of $10
Explanation:
Related Questions
A _____ is an overseas operation that is totally held and controlled by a multinational corporation (MNC).
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A wholly Owned Subsidiary is an overseas operation that is totally held and controlled by a multinational corporation (MNC).
What is a multinational corporation?A corporate entity is known as a multinational company (MNC) that owns and controls the production of goods or services in at least one nation other than its own.
A corporate entity that has all of its equity (ownership interest) held or owned by the parent firm is referred to as a wholly-owned subsidiary.
To manage their overseas subsidiaries, multinational corporations (MNCs) utilize a variety of processes, such as planning, standardized procedures, and training (Harzing and Sorge 2003). The use and efficacy of control mechanisms in MNCs are influenced by a number of internal and external factors.
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Dell works with software creators such as Oracle and Microsoft to help increase business sales of its servers and their software. This is an example of _______. a. distribution channels b. customer relationship management c. a strategic alliance d. social marketing
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Dell works with software creators such as Oracle and Microsoft to help increase business sales of its servers and their software. This is an example of a strategic alliance.
A strategic alliance refers to a mutual bond between two companies that are arranged where they create their project while maintaining a certain degree of independence in decision-making.
This agreement between two companies adheres to a set of mutually agreed upon clauses and protocols while remaining independent organizations in and of themselves. Strategic alliances are usually made in order to collaborate upon a project that ends up being beneficial for both the companies involved in the alliance, without hampering the independent capacities of any particular company. Strategic alliance helps by expanding into a newer market, introducing new products, and efficiently dealing with new and potential competitors.Therefore, Dell works with software creators such as Oracle and Microsoft to help increase business sales of its servers and their software. This is an example of a strategic alliance.
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The value of a levered firm will be greater than the value of an identical unlevered firm because the levered firm's taxes will be
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(d) Lower.
Tax shield benefit is increasing up the value of the firm. Unlevered firms doesn't have the advantage of tax benefits so their value remains lower.
What are levered firms?
Financial leverage in firms refers to the use of borrowed funds to finance activities in order to create income, typically in the form of corporate bonds or loans. Businesses "leverage" borrowed money by leveraging it to grow their revenue and boost their company's value. A firm becomes increasingly "leveraged" the more money it borrows. Ideally, the income from using borrowed money should be greater than the expense of borrowing it (i.e., interest payments).
How unlevered firms work?
Unlevered refers to removing consideration for debt or leverage. Un-levering eliminates the cost of financing and interest on outstanding debt from analysis because businesses must pay those costs. As a result, while calculating unlevered free cash flow (UFCF), you do not deduct the interest expense.
Complete Question:
The value of a levered firm will be greater than the value of an identical unlevered firm because the levered firm's taxes will be _____.
(a) deferred
(b) higher
(c) audited
(d) lower
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Which accounting principle requires to keep personal financial information separate from the financial information of Bogswell Legal Services
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The accounting principle of business entity principle that personal financial information be kept separate from Bogswell Legal Services' financial information.
The owner of the entity and the entity itself are regarded two independent elements under the business entity concept. This law normally applies to corporations registered with the government. In such a setup, all data filings will be done separately for both the owner and the entity.
The business entity concept in accounting raises the owner's responsibilities anytime corporate capital is used for personal purposes. It holds the company and its owner accountable for their respective financial commitments. This idea also applies to business owners who own many enterprises.
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The term Blank______ is difficult to define and apply to products, and one can think about it from an organizational, consumer, or even a legal perspective.
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It can be challenging to define and apply the term "new" to items. One can consider it from an organizational, consumer, or even legal standpoint.
The meaning of "new product""New products" can include items that have never been produced or sold by your company previously but have been introduced to the market by others. new product innovations developed and released to the market. They could be wholly original works or previously released works that you have improved and updated.
What is a new to the company product?Products that are new to the company, meaning that while other companies may have created or sold them before, the company has never done so. Products that have just entered the market and have never before been available there
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When a borrower pledges collateral to obtain a loan, the lender is known as a secured creditor. true false
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When a borrower pledges collateral to obtain a loan, the lender is known as a secured creditor. This statement is true.
Who is a secured creditor?
A secured creditor is a creditor whose money she borrowed out is secured by an asset. The asset can be taken over by the creditor if the borrower defaults on the loan.
A secured creditor is less exposed to risk when compared with an unsecured creditor.
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While explaining the benefits of representation to a potential buyer, the buyer asks if you can help get a good rate on a mortgage. How should you respond
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While explaining the benefits of representation to a potential buyer, the buyer asks if he can get a good rate on a mortgage. The response should be "sorry, that's outside the scope of my expertise".
What are mortgage?When you and a lender enter into a mortgage, the lender is granted the power to seize your property if you are unable to pay back the loan amount plus interest.
Mortgage loans are used to either purchase a home or borrow against an existing home's worth.
Some mortgage rights are-
The mortgagee holds rights to the real estate collateral used to secure the loan in a mortgage. The lender is protected against default thanks to this. It also mandates that specific measures be established for the seizure of collateral assets in the event of default.To know more about the collateral, here
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A $3.50 tax per gallon of paint placed on the sellers of paint will shift the supply curve Group of answer choices downward by exactly $3.50. downward by less than $3.50. upward by less than $3.50. upward by exactly $3.50.
Answers
The answer is upward by exactly $3.50.
The supply curve shifts to the left, the consumer price rises, and the seller's price fall if the government raises the tax on a good.
A tax increase has no impact on the demand curve and has no effect on how elastic supply and demand are.
Given that it is a tax on top of already-imposed levies, this possible tax rise may be referred to be marginal.
Hence, a $3.50 tax per gallon of paint placed on the sellers of paint will shift the supply curve upward or leftward by exactly $3.50.
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Orin is a corporate officer for Pacific Trade Inc. In this capacity, Orin Group of answer choices makes and announces financial decisions. authorizes major corporate policy decisions. manages corporate day-to-day operations. makes executive personnel decisions.
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Orin manages corporate day-to-day operations.
A corporation's day-to-day activities are managed by corporate executives. Hence Orin supervises the day-to-day activities of Pacific Trade, Inc in his position as a corporate officer. Directors are responsible for making and announcing financial choices, authorizing important company policy decisions, and appointing executive employees. As a result, further possibilities are beyond Orin's capabilities.
Corporate or business titles are given to company and organization executives to indicate their roles and responsibilities inside the organization. For-profit corporations, both publicly and privately held, use such designations.
Therefore, the correct option is manages corporate day-to-day operations.
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The Sara Lee Company sells the Hanes brand of hosiery in the United States. The manufacturer of this hosiery brand in Great Britain sells it under the brand name of Pretty Polly. The Sara Lee Company is using _____ to broaden its global marketing base without investing in overseas plants and equipment.
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The Sara Lee Company is using contract manufacturing to broaden its global marketing base without investing in overseas plants and equipment.
A manufacturer who enters into a contract with a business for supplies or goods is known as a contract manufacturer. A sort of outsourcing, it is. A contract packager, sometimes known as a copacker, is a manufacturer who performs packaging activities under contract.Contract drafting: There are various contract manufacturing agreement kinds from which to pick. Private label manufacturing, contracts for the production of specific components or parts, labor or service subcontracting, and end-to-end service agreements all fall under this category.When a small business contracts with another business to make its products, contract manufacturing happens. It helps small business owners to start selling their goods without having to raise the significant sum of money required to set up and maintain a factory.Thus this is the answer.
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A bank has stock shares of $100,000, property assets of $90,000, and cash of $10,000. If households and businesses decide to deposit $50,000 in the bank as checkable deposits, the balance sheet will be ______.
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The answer is stock shares = $100,000, property assets = $90,000, cash = $60,000, and loans & advences = $50,000
Given,
stock shares = $100,000,
property assets = $90,000,
and cash = $10,000.
households and businesses decide to deposit $50,000 in the bank as checkable deposits.
The balance sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time.
It also details the balance of income and expenditure over the preceding period.
Therefore when households and businesses decide to deposit $50,000 in the bank as checkable deposits, it will be shown in balance sheet as:
Cash = Previous balance + checkable deposits
= 10,000 + 50,000
= $60,000
Loans & advances : checkable deposits = $50,000
Hence, the balance sheet will be stock shares = $100,000, property assets = $90,000, cash = $60,000, and loans & advences = $50,000.
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Suppose an employee of a large corporation feels that she is being treated unfairly by the firm but needs the income and does not want her supervisors to be angry with her. To draw negative attention to the firm without risking her own job, she writes a weekly blog harshly criticizing her employers and revealing unflattering information about the firm. This is an example of
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She writes a weekly blog harshly criticizing her employers and revealing unflattering information about the firm. This is an example of interactional vandalism.
What is Vandalism ?
A person in a subordinate social position intentionally breaks the tacit rules of everyday interactions that are of value to the more powerful person.
Vandalism basically a form of violation that is conducted outside a generally accepted ruled/standards among specific social groups.
An action that could be considered as a vandalism in a certain social group may not be considered as such in another social group. (for example, it is considered legal to create a street painting in some part of Rio de Janeiro)
Therefore , we can conclude that She creates a weekly blog in which she aggressively criticizes her bosses and divulges unpleasant facts about the company in an effort to bring bad attention to the company without jeopardizing her own employment. Interactional vandalism is demonstrated here.
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Which type of ma plan is an hmo plan that also covers some benefits out-of-network, generally at a higher cost?.
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The type of ma plan is an hmo plan that also covers some benefits out-of-network, generally at a higher cost is: Private Fee-for-Service (PFFS).
What is medicare advantage plan?Medicare advantage plan is a health insurance coverage that help to cover the medical expenses of those under the plan.
The type of medicare advantage plan that cover some benefit out of network are:
Private Fee-for-Service (PFFS)Medicare Supplement Insurance PlanPreferred Provider Organization (PPO)Point-of-Service (POS) Plan(right)Learn more about medicare advantage plan here:https://brainly.com/question/1909464
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The term economists use to describe a situation in which the economy's overall price level is rising is a. growth. b. expansion. c. inflation. d. recession.
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The term economists use to describe a situation in which the economy's overall price level is rising is inflation.
What is inflation?Inflation is the consistent and persistence rise in the prices of goods and services as a result of too much money in circulation.
It is a situation whereby money looses its value over time, hence products generally become more expensive.
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When people come to your website based on their own actions, where you have not paid for the link is
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When people come to your website based on their own actions, where you have not paid for the link is organic link, also called an unpaid search.
What is organic link?This refers to a link from one's website to another website. It is what connects two different website or blogs together.
It is to be noted that organic links go to websites that didn't pay other sites to display them
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____________ is also referred to as a mortgage differential allowance program that permits the seller of a property to place a portion of the sale proceeds at closing with the lender in an escrow account. The account is established so that it has sufficient funds to effectively reduce the purchaser
Answers
Buydown Mortgage is also referred to as a mortgage differential allowance program that permits the seller of a property to place a portion of the sale proceeds at closing with the lender in an escrow account. The account is established so that it has sufficient funds to effectively reduce the purchaser.
What Is a Mortgage?A mortgage is a type of loan used to purchase or maintain a home, land, or other types of real estate. The borrower agrees to pay the lender over time, typically in a series of regular payments that are divided into principal and interest. The property then serves as collateral to secure the loan.
A borrower must apply for a mortgage through their preferred lender and ensure that they meet several requirements, including minimum credit scores and down payments. Mortgage applications go through a rigorous underwriting process before they reach the closing phase. Mortgage types vary based on the needs of the borrower, such as conventional and fixed-rate loans.
What is a Mortgage Buydown?A mortgage rate buydown, which is often called a “buydown mortgage” for short, is a financing arrangement that gives a borrower a lower rate for a certain number of years or for the life of the loan. The borrower pays mortgage points at closing to cover the difference between the standard rate and the lowered rate.
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True or false: The aggregate demand curve slopes downward because it reflects a direct relationship between the price level and the amount of real output demanded
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The aggregate demand curve slopes downward because it reflects a direct relationship between the price level and the amount of real output demanded. This statement is false.
What is a demand curve?It should be noted that a demand curve simply means the graph that illustrates the quantity bought at a price.
In this case, the curve slopes downward because output reduces as price increases. This shows an inverse relationship.
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What is the guideline amount for an emergency fund
Answers
Answer:
While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.
Explanation:
While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.
Payment of a dividend: a. decreases cash; increases stockholders' equity. b. decreases cash; decreases retained earnings. c. increases expenses; decreases cash. d. increases retained earnings; increases expenses.
Answers
The answer is the 'B' Option. Payment of the dividend decreases cash and decreases retained earnings.
Like every business transaction, this business transaction also has a dual effect.
Since in the given case, payment of the dividend is made.
This clearly means that the cash will be reduced.
Also, Retained earnings are a corporation's prior profits, less any dividends the company has previously paid.
The term "retained" accurately conveys the fact that the corporation kept those earnings rather than paying them out as dividends to shareholders.
Therefore, when payment of the dividend is made retained earnings will also be reduced.
Hence, payment of the dividend Decreases the cash & Decreases Retained earnings.
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A large computer store changed its logo. The computer store orally contracted with a printing company to create new business cards, stationery, laptop bags, and other items with the new logo, at a cost of $10,000. After the printing company had accepted the payment, but before beginning any preparation or work on the job, the computer store called the printing company and said that it was cancelling the contract.
If the printing company sues the computer store, is a court likely to enforce the oral contract despite the Statute of Frauds?
i. Yes, because the contract was for the sale of specially manufactured goods.
ii. Yes, because the printing company had accepted payment.
iii. No, because the printing company had not yet made a substantial beginning in manufacturing the goods.
iv. No, because the computer store had not yet received any goods.
Answers
Answer:
B or ii. would be correct
Hope this helps :)
Noticing spikes or dips in specific behaviors and quantifying them is an example of which step of implementing behavioral marketing and customer segmentation?
Answers
AnsNoticing spikes or dips in specific behaviors and quantifying them is an example of analyze and report how people are behaving on your website step of implementing behavioral marketing and customer segmentation
Your ability to make wise decisions regarding your website, mobile app, or SaaS (software as a service) application development investments will increase as you gain more knowledge about your visitors. From download and initial use to usage, transactions, and loyalty, track what matters. The majority of application types, including mobile apps (for iOS and Android), online and SaaS applications, and IOT (internet of things) devices, may all be captured and understood using search engines.
Search engines analytics offers a wealth of data with little instrumentation to assist you in comprehending user behavior when they engage with your website or application. The number of users interacting with your application, the number of sessions those users establish, and the screens or web pages that they view are all considered standard metrics.
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Fiat and Chrysler cooperated to produce a Fiat-designed car in Chrysler's Illinois factory. This is a(n) __________ alliance because it allows the firms to share resources and capabilities across multiple functions.
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the strategic alliance is the answer.
A strategic alliance is an arrangement between two or more parties to pursue the required set of agreed goals while being an independent organization.
A strategic alliance is an agreement between two companies to carry out mutually beneficial projects while maintaining their independence. The deal is more complex and less binding than a joint venture in which two companies pool resources to create separate entities.
Definition of Strategic Alliance: This is a joint venture that strengthens our core business strategy, creates a competitive advantage and prevents competitors from gaining a foothold in the market. In this way, individual companies can achieve more together than they can achieve alone. In other words, coopetition.
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Marshall suggested that the cause of a downward-sloping long-run supply curve is a. The absence of fixed cost in the long run. B. The increased number of firms in the industry. C. Reduced input prices. D. Reduced output prices.
Answers
Marshall suggested that the cause of a downward-sloping long-run supply curve is A) The absence of fixed cost in the long run.
A set cost has a tendency to increase the marginal cost curve inside the quick run but because of the fact that the fixed cost isn't viable ultimately, the marginal price declines and so the lengthy-run supply curve is falling ultimately.
In a reducing value enterprise, the lengthy-run deliver curve is downward sloping because of the reality that as output will grow and new businesses enter, production costs decline. The pc agency is an example of a downward sloping delivery curve, thinking about the truth that because the variety of computer systems produced multiplied, the price of inputs, including chips, declined.
The lengthy-run deliver curve for an enterprise wherein manufacturing expenses boom as output rises (a growing-value industry) is upward sloping. The long-run deliver curve for an employer in which manufacturing costs decrease as output rises (a reducing-rate business enterprise) is downward sloping.
The long-run delivery is the shipping of goods to be had whilst all inputs are variable. The lengthy-run supply curve is constantly greater elastic than the quick-run shipping curve. The lengthy-run average fee curve envelopes the short-run common charge curves in u-fashioned curve.
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Lux Company started the month with 20 lamps in its beginning inventory that cost $30 each. During the month, Lux purchased 80 additional lamps for $31 each. At the end of the month, Lux counted its inventory and found that 25 lamps remained unsold. If Lux uses periodic weighted average cost, its Cost of Goods Sold for the month is ______.
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Lux Company started the month with 20 lamps in its beginning inventory that cost $30 each. During the month, Lux purchased 80 additional lamps for $31 each. At the end of the month, Lux counted its inventory and found that 25 lamps remained unsold. If Lux uses periodic weighted average cost, its Cost of Goods Sold for the month is $2,310.
To calculate the periodic weighted average cost, you need to calculate the total expenditure = 20 × $30 + 80 × $31 = $600 + $2480 = $3080
Now out of 100 lamps only 75 lamps are sold and 25 are unsold then
periodic weighted average cost = $3080 × 75 ÷ 100 = $2310
What is Periodic Weighted Average Cost?In a periodic inventory system, calculations using the average cost technique are performed at the conclusion of the accounting period.Average cost technique contains the weighted average cost based on the price of the initial inventory plus all purchases made during that period.The units sold and the inventory-held units are then charged with this average cost per unit.What is the Weighted Average Cost Formula?The weighted average cost per unit of inventory can be calculated using the average cost method (AVCO).It is used to determine the cost of ending inventory and the cost of goods sold over a certain time period.The following formula is used to compute weighted average cost per unit:Weighted Average Unit Cost = Total Cost of Inventory ÷ Total Units in Inventory
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Question 1 The term accessibility refers to the design of products, devices, services, or environments for _______.
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The term accessibility refers to the design of products, devices, services, or environments for people who experience disabilities. This is further explained below.
What is accessibility ?Generally, Products, tools, services, and settings that are accessible are those that are created with individuals with disabilities in mind.
In conclusion, Products, gadgets, services, and places that are accessible are those that are designed with individuals with disabilities in mind.
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If the project team and organizational officials reassess the project after each subsequent SDLC phase to determine if the business conditions have changed or if a more detailed understanding of a system's costs, benefits, and risks suggest that the project is not as worthy as previously thought, they are:
Answers
They are adhering to the incremental commitment principle.
Non-feasibility studies look at the organization's financial and operational needs to see if the proposed information system makes sense.The method by which feasibility is assessed is feasibility analysis. A project's feasibility analysis may reveal that it is initially feasible but later proves to be unworkable. Therefore, different go/no-go checkpoints or management reviews are required as part of the Systems Development Life Cycle (SDLC).
What happens if a project is not planned and controlled?
A poor reputation, project cost overruns, project schedule delays, the project team becoming unmotivated, and a threat to the organization's sustainability are the results.
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According to Frans Johansson, all new ideas are: Select one: a. Typically representative of a combination of ideas that are integrated to create value. b. A combination of creativity and experience of only one person. c. Unique. d. Always the result of one person's genius.
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Typically representative of a combination of ideas that are integrated to create value is the correct option.
Frans Johansson believes that innovation may be accomplished by combining ideas from many fields and sectors. He emphasized the value of varied teams and how different viewpoints will aid in the creation of enhanced ideas.
The Medici effect refers to the belief that enhanced creativity and invention arise as a result of variety. Step-changes can occur when ideas and skilled individuals from many professions are brought together to cooperate. Frans Johansson's novel of the same name inspired the concept.
Therefore, the correct option is a.
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Your clients, the Schwans, are financing their home purchase. They want to obtain a conventional loan directly from a bank and to put down at least 20% of the home price. They will most likely get their loan from ______. Unset starred question A primary lender A secondary lender A subprime lender A supra-prime lender
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The fact that the Schwans want to obtain a conventional loan directly from a bank means that they will probably get a loan from a A. Primary lender.
Who are primary lenders?Primary lenders are those that directly give out mortgages to people. In other words, they are the source of the mortgage loans.
Examples include banks and credit unions. If the Schwans want a loan directly from a bank, it means that they are going for a primary lender.
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The estimated unit costs for a company to produce and sell a product at a level of 12,100 units per month are as follows: Cost Item Estimated Unit Cost Direct material $ 30 Direct labor 21 Variable manufacturing overhead 16 Fixed manufacturing overhead 4 Variable selling expenses 2 Fixed selling expenses 3 What are the estimated variable costs per unit
Answers
The estimated variable costs per unit is $69.
What is estimated variable cost per unit?The cost of each unit of goods that a firm produces is referred to as variable cost per unit.
Variable costs alter as changes take place in the company's level of production or activity. Changes in the business have an impact on unit variable cost; as more units of a good are produced, additional costs are spent.
Calculation for the estimated variable cost:
Given inventory is -
Cost Item Estimated
Unit Cost
Direct material $ 30.
Direct labour $21.
Variable manufacturing overhead $16
Fixed manufacturing overhead $4
Variable selling expenses $2
Fixed selling expenses $3
Apply the formula for variable cost;
Estimated variable cost = (Direct material + Direct labour + Variable manufacturing overhead + Variable selling expenses)
Substitute the values in the formula, we get
Estimated variable cost = $30 + $21 + $16 + $2
= $69
Therefore, the estimated variable costs per unit is $69.
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Explain the integrated marketing communications (IMC) concept. What are the reasons for its general success
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Integrated Marketing Communications (IMC) can be defined as the process used to integrate the elements of marketing communications. An integrated approach to marketing communications coordinates all channels, shares the same strategy, and guarantees comprehensive business goals and corporate value.
Integrated Marketing Communications (IMC) is a strategy that shifts marketing departments from different features to a connected approach. IMC captures a variety of marketing materials and channels, from digital to social media, PR to direct mail, and puts them together in one credible message.
Integrated marketing allows brands to have a unified voice across all consumer touchpoints. IMC builds customer loyalty, brand awareness, reach, and trust. RocketDock specializes in integrating marketing strategies to help brands communicate effectively across all platforms.
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