answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
iren [92.7K]
2 years ago
4

On November 1, Jasper Company loaned another company $100,000 at a 6.0% interest rate. The note receivable plus interest will no

t be collected until March 1 of the following year. The company's annual accounting period ends on December 31, and adjustments are only made at year-end. The adjusting entry needed on December 31 is:
Business
1 answer:
Anarel [89]2 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

Interest receivable A/c Dr $1,000

                     To Interest revenue A/c $1,000

(Being accrued interest is recorded)

The computation of accrued interest is presented below:

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

= $100,000 × 6% × (2 months ÷ 12 months)

= $1,000

The 2 months is calculated from November 1 to December 31

You might be interested in
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, howe
forsale [732]

Answer:

Realistic aspect

Explanation:

Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.

This is because following Cosmo making his dream come true of buying the property that his restaurant occupies, the idea that he could rent out the storefront next to the restaurant for added income is a REALISTIC Aspect of Goal Getting.

This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan

7 0
2 years ago
Zenda is a financial advisor for an investment company and also has a private bookkeeping business. She recently read about new
Marta_Voda [28]
I don’t know if they’re answer choices with this question, but I believe if she studies 10 hours on her financial investment, and 10 hours on her private bookkeeping business. She’ll have to Atleast study 4 hours on the client record keeping requirement. (hope this helps)
7 0
2 years ago
Read 2 more answers
An economy has full-employment output of 5000. Government purchases are 1000. Desired consumption and desired investment are giv
V125BC [204]

Answer:

a. real interest rate is 0.217 or 21.7%.

b. saving = 134 , investment is 332 ,  consumption is 3666.

Explanation:

a) Y = Cd + Id + Gd

Where Y= output

Cd= consumption

Id= Investment purchases

Gd=Government purchases

Y= (3600 - 2000r + 0.10Y) + (1200 - 4000r) + 1000

Y=5800-6000r+0.10Y

0.9Y=5800-6000r

At full employment Y=5000

Putting the value of Y in the above equation

0.9*5000=5800-6000r

5800-4500=6000r

r=0.217

Therefore real interest rate is 0.217 or 21.7%.

(b) Sd = Y - Cd - G

where Sd is national saving

Sd = Y - (3600 - 2000r + 0.1Y) - 1200

Sd = 5000-(3600 - 2000*0.217 + 0.1*5000) - 1200 =5000-3600+434-500-1200 = 134

Therefore, saving = 134

Id= 1200-4000*0.217 =332

Therefore, investment is 332

Cd= 3600-2000r+0.10Y=3600-434+500=3666

Therefore, consumption is 3666.

5 0
2 years ago
At a sales volume of 40,000 units, Lonnie Company's total fixed costs are $40,000 and total variable costs are $60,000. The rele
eduard

Answer:

$115,000

Explanation:

Calculation for the total expected cost

First step is to find the variable cost per unit

Variable costs per unit= 60,000/40,000

Variable costs per unit= 1.50 per unit.

Second step is to find the Total variable costs

Total variable costs =50,000 units × 1.50 per units

Total variable costs=$75,000

Last step is add the total fixed costs of the amount of $40,000 to the Total variable costs of $75,000

Total expected cost =$75,000+$40,000

Total expected cost =$115,000

Therefore the total expected cost will be $115,000

3 0
2 years ago
A​ 12-cylinder heavy-duty diesel engine will have a guaranteed residual value of​ $1,000 in five years. Today​ (year 0) the equi
zavuch27 [327]

Answer:

$650

Explanation:

Guaranteed Residual Value = FV = $1,000

Interest rate = r = 9% = 0.09

Number of years = n = 5 years

Using Following formula we can calculate today's worth of the engine.

Residual value after 5 years = Today's value x ( 1 + rate of interest )^number of years

FV = PV x ( 1 + r )^n

$1,000 = PV x ( 1 + 0.09 )^5

PV = $1,000 / ( 1.09 )^5

PV = $649.93

PV = $650 (rounded off to the nearest whole number)

5 0
2 years ago
Other questions:
  • DT Motors paid its first annual dividend yesterday in the amount of $.15 a share. The company plans to double the dividend in ea
    6·1 answer
  • Bill's product manager is under pressure to increase market share, but is uncertain about how to make the product more competiti
    13·1 answer
  • An automobile manufacturing company has developed an electric car that uses sunlight to charge itself during movement. In the co
    5·1 answer
  • Country X has currency C1 and Country Y has currency C2. The nominal exchange rate C2/C1 and GDP deflator P for Country X and P*
    12·1 answer
  • Cycle Sporting Goods sells bicycles throughout the northeastern United States. The following data were taken from the most recen
    15·1 answer
  • Currently the U.S. Olympic Committee (USOC) pays Olympic athletes $25,000 for each gold medal, $15,000 for a silver medal, and $
    7·1 answer
  • WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for t
    13·1 answer
  • Which statement best summarizes the role of households in the flow of
    7·2 answers
  • Read the following scenario and answer the question in 5 sentences at least.
    12·1 answer
  • Four finalists have been selected for a job as a travel agent. Which candidate will most likely get the job?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!