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bonufazy [111]
2 years ago
9

On July 8, Jones Inc. issued an $80,000, 6%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends J

uly 31. Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar.
Business
1 answer:
Otrada [13]2 years ago
3 0

Answer:

$307

Explanation:

The computation of the interest expense is shown below:

= Principal × rate of interest × number of days ÷ (total number of days in a year)  

= $80,000 × 6% × (23 days ÷ 360 days)

= $307

The 23 days is taking from July 8 to July 31

We simply applied the simple interest formula by multiplying the principal amount with the rate of interest and the time period

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Suppose GDP in an economy is $3,542 billion. Personal Consumption Expenditures (C) are $2,343 billion, Government Spending (G) i
aleksandrvk [35]

Answer: -$45 billion.

Explanation:

Net Exports refers to Exports out of a country less imports into the country and it is a component of GDP using the Expenditure method. The other components include Government Spending, Investment and Consumption all of which are given in the above question.

The Net Exports are therefore;

GDP = Consumption + Investment + Government Spending + Net Exports

3,542 = 2,343 + 865 + 379 + Net Exports

3,542 = 3,587 + Net Exports

Net Exports = 3,542 - 3,587

Net Exports = -$45 billion

The Net Exports are negative which means that more goods were imported than were exported.

6 0
2 years ago
Timothy is planning the pricing strategy for his company’s products. He is directed by the management to add a premium (amount a
marissa [1.9K]

Answer:

A.sell the product at a much higher price (than the market price), and then offer a discount

4 0
2 years ago
Total Accounting has developed new software for nonprofit organizations that allows them to send donors receipts via text or ema
levacccp [35]

Answer: Donors(people donating for the progress of the society).

Explanation:

The solution or answer to this exam or problem or question can be seen or found in the first sentence of the question, that is;

"Total Accounting has developed new software for nonprofit organizations that allows them to send DONORS receipts via text or email".

Take note of the capitalized word, " donors" because that is the simplest answer to the question.

Therefore, the software was built and designed for people that are going to be donating or giving back to the society. The software is built in such a way that the Total Accounting marketing team can track who donors are.

4 0
2 years ago
Determinant Company is a​ price-taker and uses a​ target-pricing approach. Refer to the following​ information: Production volum
Maru [420]

Answer: good day!

Explanation: you’re awesome

3 0
2 years ago
Total quality management (tqm) emphasizes all but which one of the following?a. Team-based work design and the creation of a tot
Sindrei [870]

Answer:

c. Involvement and empowerment of employees at all levels

Explanation:

Total quality management refers to managing the organization in order to develop a success in the long run by considering the low level workers to the high level executive, and at the same time focused on quality improvement and the customer satisfaction

Here are the following points to become important for an organization

1. Quality improvement, management leads to long term success for organization and customers

2. The deficiencies could be determined by performing the work and can be corrected through providing the training, education, etc

3. If the product contains high quality that meet the needs of the customers than it would lead to high customer satifaction

4. And, in case if there is few defective product so the company is in a position to save the cost

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2 years ago
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