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ella [17]
2 years ago
15

Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform S

upply intends to continue collection efforts, what entry should Uniform Supply make on January 15 of the next year? (Assume no reversing entries are made.) (Use 360 days a year.)
Business
1 answer:
Vesna [10]2 years ago
8 0

Answer:

Check the explanation

Explanation:

Solution: Journal entry for the purpose would be:

Cash A/c. Dr. 4920

Interest Revenue 20

Interest Receivable 100

Note Receivable. 4800

(Being due amount on note along with the interest collected)

Note:

Total interest on Note= 4800 x 10% x90/ 360 days

= $120

Interest accrued in previous year=$ 120 x 2.5/3 =$ 100

(i.e. represent in entry by way of interest receivable)

Interest income for current period =$(120-100)=$20

Assumed: Financial year ended on December 31st.

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Summer Dean was walking through the mall and found a gym bag lying on the ground. The decision Dean must make as to whether to k
suter [353]

Answer:

Ethics

Explanation:

Ethics also called moral philosophy involves how an individual systemises, defends and recommends the concept of right or wrong.

Summer is facing an ethical decision of either returning the bag or keeping it for herself. Her decision will be based on her definition of right or wrong.

If her moral philosophy is one that does not see theft as something that is wrong, she will decide to keep the bag. If on the other hand she sees keeping the bag that is not her own as wrong she will decide to return it.

6 0
2 years ago
Bau Long-Haul, Inc., is considering the purchase of a tractor-trailer that would cost $302,820, would have a useful life of 7 ye
Kruka [31]

Answer:

20%

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

IRR can be calculated using a financial calculator:

Cash flow for year zero =-302,820

Cash flow each year from year one to seven = 84,000

IRR = 20%

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

4 0
2 years ago
N high power-distance countries such as China, employee perceived organizational support perceptions are not as deeply based on
Whitepunk [10]

Answer:

The correct answer is E

Explanation:

The expectation level by the employees are lower in the high power distance countries and the work is considered to be the moral obligations whether the firm cares for the employees or not.

Perceived firm support is the scenario which is grounded instead of the policy based. So, the difference is the level of expectation through the employees.

5 0
2 years ago
A purchasing consortium: Group of answer choices is a form of collaborative purchasing used only by the public sector to deliver
Anestetic [448]

Answer: consists of two or more independent organizations that combine requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers.

Explanation:

Purchasing consortium is simply defined as an arrangement that involves collaboration which takes place between two or more organisations who join hands together in order to gain better prices and achieve terms which are favorable from their suppliers.

Purchasing consortium consists of two or more independent organizations that combine requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers.

It should be noted that it's not only used by public institutions, therefore option A is incorrect. Purchasing consortium helps speed up the purchasing process.

8 0
2 years ago
If the marginal product of capital net depreciation equals 8 percent, the rate of growth of population equals 2 percent, and the
Sphinxa [80]

Question:                                                                                                                                                                                                                                                                                  

If the marginal product of capital net depreciation equals 8 percent, the rate of growth of population equals 2 percent, and the rate of labor-augmenting technical progress equals 2 percent, to reach the Golden Rule level of the capital stock, the ____ rate in this economy must be _____.      

A) saving; increased  

B) population growth; decreased

C) depreciation; decreased

D) total output growth; decreased

Answer

The correct answer is  A) <u>Saving</u> rate of the economy must be i<u>ncreased</u> in order for the economy to reach the Golden Rule Level of the Capital Stock.

Explanation

Golden Rule Level of the Capital Stock is the level at which

MPK = δ,

Where MPK is Marginal Product; and δ the depreciation rate;

so that the marginal product of capital equals the depreciation rate.

In the Solow growth model, a <em>high saving rate results in a large steady-state capital stock and a high level of steady-state output.</em> A low saving rate results to a small steady state capital stock and a low level of steady-state output. Higher saving leads to faster economic growth only in the short run. An increase in the saving rate raises growth until the economy reaches the new steady state. That is, if the economy retains a high saving rate, it will also maintain a large capital stock and a high level of output, but it will not maintain a high rate of growth forever .  

5 0
2 years ago
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