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larisa86 [58]
2 years ago
6

On October 1, Black Company receives a 9% interest-bearing note from Reese Company to settle a $20,000 account receivable. The n

ot is due in six months. At December 31, Black should record interest revenue of
a. $0
b. $450
c. $900
d. $1800
Business
1 answer:
Anna007 [38]2 years ago
4 0

Answer:

B. $450

Explanation:

Interest rate = 9% = 0.09

Account receivable = $20,000

Interest = 0.09 x 20,000

= $1,800

At December 31, Black should record interest revenue of

1,800 x (90/360)

= 1,800 x 0.25

= $450

The answer is $450

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Under AICPA rules, which statement best describes the period of the professional engagement as it applies ot a three-year engage
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The answer is: D) It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner.

Explanation:

The American Institute of Certified Public Accountants (AICPA) regulates its members' professional conduct. It has established that an accountant is engaged with a client form the moment it signs his o her contract until the contract is completed, or the employment relationship is terminated.

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2 years ago
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Which of the following generational groups is most likely to represent the present owners of cottages surrounding Witmer Lake?A)
yawa3891 [41]
I think it’s d but try to search it D
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2 years ago
Debra notes that Theo Chocolate has started holding its own operations to the same IMO standards of fair trade to which it holds
slamgirl [31]

Answer:

The correct answer is letter "A": Ethical leadership.

Explanation:

Ethical leadership is the set of managerial practices that executives use to give an example to their subordinates and promote good values among the organization. This is typically achieved by promoting fair treatment among workers and social awareness with the external environment of the firm.

In the example, <em>Theo Chocolate started to follow the International Maritime Organization (IMO) standards that promote the safety and security of international shipping and forbid marine pollution from ships</em>.

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2 years ago
Marko, Inc., is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $6,200, $11,200, and
Serggg [28]

Answer:

$27,965.4393

Explanation:

Given:

Cash flow for first year (C1) = $6,200

Cash flow for second year (C2) = 116,200

Cash flow for third year (C3) = $17,400

Rate of return = 10% = 10/100 = 0.1

Computation of total price :

Total Price = \frac{C1}{(1+r)^1} +\frac{C2}{(1+r)^2} +\frac{C3}{(1+r)^3}

Total\ price = \frac{6,200}{(1+0.1)^1} +\frac{11,200}{(1+0.1)^2} +\frac{17,400}{(1+0.1)^3}\\\\Total\ price = \frac{6,200}{(1.1)^1} +\frac{11,200}{(1.1)^2} +\frac{17,400}{(1.1)^3}\\\\Total\ price = \frac{6,200}{(1.1)} +\frac{11,200}{(1.21)} +\frac{17,400}{(1.331)}\\\\Total\ price = 5,636.36364 + 9256.19835 +13,072.8775\\\\Total\ price = 27,965.4393\\\\

Therefore, Marko Inc. will  pay $27,965.4393  

8 0
2 years ago
Pabon Corporation makes one product. Budgeted unit sales for August and September are 11,100 and 12,600 units, respectively. The
AleksAgata [21]

Answer:

$555,750

Explanation:

First we need to calculate the units produced in the month of August.

We know that the opening inventory of finished goods is equal to 40% of that month's sale.

  • The Opening inventory of August will be: 11100 * 0.4 = 4440
  • Units produced in august relating to August sales will be 11100 - 4440 = 6660
  • Units produced in August relating to September's sales will be 12600 * 0.4 = 5040
  • Total units produced in August = 6660 + 5040 = 11700 units
  • labour hours required for August = 11700 * 2.5 = 29250 direct labor hours
  • So, Direct labor Cost = 29250 * 19 = 555750

7 0
2 years ago
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