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Readme [11.4K]
2 years ago
12

On September 15, 2021, Oliver's Mortuary received a $3,600, nine-month note bearing interest at an annual rate of 14% from the e

state of Jay Hendrix for services rendered. Oliver's has a December 31 year-end. What adjusting entry will the company record on December 31, 2021
Business
1 answer:
pentagon [3]2 years ago
8 0

Answer:

The Journal entry is as follows:

On December 31, 2021

Interest Receivable A/c Dr. $147

          To Interest revenue A/c      $147

(To record the interest receivable)

Working notes:

Interest Receivable:

= Amount received × Annual rate of interest × Time period

= $3,600 × (14% ÷ 12) × 3.5

= $3,600 × 0.01167 × 3.5

= $147

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Given a stock index with a value of $1,200, an anticipated dividend of $45, and a risk-free rate of 6%, what should be the value
kramer

Answer: $1,227

Explanation:

The value of the futures contract should be calculated by the formula;

= Stock Index Value * ( 1 + risk free rate ) - dividends

= 1,200 * ( 1 + 0.06) - 45

= $1,227

8 0
2 years ago
Consider the following​ situation, which involves two options. Determine which option is less expensive. Are there unstated fact
Sunny_sXe [5.5K]

Answer:

It will be better to keep the old car.\left[\begin{array}{cccc}$&$New&$Old&$Differential\\$purchase&-14000&&14000\\$Gasoline spending&-4292&-9479&-5187\\$repairs&&-7500&-7500\\$insurance&-4000&-2000&2000\\$Result&-22292&-18979&3313\\\end{array}\right]

Explanation:

gasoline spending:

old:

250 miles per week/ 24 miles per gallon= 10,41666666

then that x 52 weeks per year x 3.5 per gallon x 5 years

new:

250 / 53 =  4,716981

then this x 52 weeks x 3.5 per gallon x 5 years=

repairs:

1,500 x 5 years = 7,500

insurance:

800 x 5 = 4,000 new car insurance

400 x 5 = 2,000 old car insurance

6 0
1 year ago
Bauer's Supply Chain Management Student Organization provides networking opportunities and dinner meetings with hiring managers,
givi [52]

Answer:

Bauer SPO

Explanation:

  • Bauer SPO is a primer student organization of the supply chain and management at the university of Houston C.T. Bauer College of Business.
6 0
1 year ago
Ruddick Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just comp
irina1246 [14]

Answer:

Given that,

Cost of goods manufactured = $1,486,000

Cost of goods sold (unadjusted) = $1,337,000

Therefore, the journal entry for the transfer of completed goods from WIP to Finished goods is as follows:

Finished Goods A/c        Dr. $1,486,000

To Work in process                                   $1,486,000

(Being transfer of completed goods from work in process to finished goods recorded)

4 0
1 year ago
Ed is a 30 year old veterinary technician. Physical exam reveals a height of 5 foot 9 inches, and a weight of 210 pounds. Accord
lianna [129]

Answer:

BMI = 31.18 kg/m²

According to BMI, this patient is diagnosed as Obese.

Explanation:

BMI known as body mass index is taken from a person height and weight. BMI is a person's weight in kilograms divided by the square of height in meters. BMI is usually expressed in kg/m².

Mathematically ,

BMI = weight(kg)/height(m²)

we have to convert the weight and the height to the required units.

converting pounds to kg

2.2 pounds = 1 kilogram

210 pounds = ?

cross multiply

210/2.2 = 95.50 kilograms

converting foot to inches and to meter.

1 foot = 12 inches

5 foot = ?

12 × 5 = 60 inches

60 inches + 9 inches = 69 inches

1 inches = 0.0254 meters

69 inches = ?

69 × 0.0254 = 1.7526  meters

using the formula

BMI = weight(kg)/height(m²)

BMI = 95.50/(1.75)²

BMI = 95.50/3.0625   kg/m²

BMI = 31.1836734694  kg/m²

BMI = 31.18 kg/m²

6 0
1 year ago
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