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arsen [322]
2 years ago
7

On September 1, 2019, Coral Equipment signed a one-year 8% interest-bearing note payable for $50,000. Assuming that Coral Equipm

ent maintains its books on a calendar year basis, the amount of interest expense that should be reported on the 2020 income statement for this note would be :
Business
1 answer:
natali 33 [55]2 years ago
8 0

Answer:

$8,000

Explanation:

Base on the scenario been described in the question, we are to use simple interest to calculate the given problem

We are given

Time = 2years

rate = 8%

Principal = $50,000

Simple interest formula is given below

I = PRT/100

Substituting the values into the question, we have

I = $50,000×8×2/100

I = $800,000/100

I = $8,000

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Emerson, inc., reported that it owns and operates 265 companies worldwide with 23% of its sales coming from europe, 18% from asi
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2 years ago
One of the perils of the outsourcing phenomenon in the electronics industry is that:
Mariana [72]

Answer:

Option(a) is the correct answer to the given question.

Explanation:

The electrical goods require regular or more updating  modifications in the prototypes of the manufacturing.The manufacturing process of the electrical items is versatile it means the designing is changes time to time .

  • The project costs also varies  with there needs. The secret money comes with the evolving environment of manufacturing. Every other change comes with certain expense, called the secret cost. Consequently subcontracted consumer electronics are progressively becoming more costly.
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6 0
2 years ago
Christin, the CEO of a national IT manufacturer, was approached by Ultimate Phones, a new company that is marketing a new type o
lorasvet [3.4K]

Christin the CEO of a national IT manufacture is experiencing the   (B) bounded rationality

Explanation:

By analyzing the options given in the question we can say that

  • An ethical dilemma is said to have occurred when there is a conflict of interest between the two organization leaving one with making choices between  serving in the interest one the company or feathering one's nest.

  • Group think implies giving preference  to the decision of a group over individual's thinking

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So the answer to the above question is  (B) bounded rationality-Christin is experiencing the dilemma of bounded rationality

8 0
2 years ago
Azure Inc. assigns $4,000,000 of its accounts receivables as collateral for a $3 million loan with a bank. The bank assesses a 3
Vlad1618 [11]

Answer with its Explanation:

Step 1:

First of all record a loan of $3 million loan:

Dr Bank $3,000,000

Cr Loan      $3,000,000

Step 2:

Finance charge will be 3% on this loan amount:

Dr Finance Charge $3million *3% = $90,000

Cr                   Bank                                       $90,000

Step 3:

The interest on the note is 7% which is $70,000. So the journal entry would be:

Dr Interest Expense $70,000

Cr Interest payable                  $70,0000

8 0
2 years ago
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