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valkas [14]
2 years ago
9

Corona Industries purchased a stamping machine on January 2, 20X1, for $100,000. It made an initial payment of $20,000 and finan

ced the balance over 5 years at State Bank. The loan terms were for annual payments of $16,000 plus 10% interest, payable on December 31 each year. The year 20X4 proves to be a difficult year and on December 1, 20X4 Corona negotiates a debt restructuring with State Bank. The settlement calls for cash payment of accrued interest plus $4,000 on December 1 and the transfer of 200 acres of land held by Corona that cost $15,000. The land has a current fair value of $22,000. Which one of the following entries will Corona make to adjust for the land just prior to transfer?
a. DR Loss on disposal of asset $7,000 CR Land $7,000
b. DR Land $7,000 CR Gain on disposal of asset $7,000
c. DR Note payable—State Bank $7,000 CR Gain on disposal of asset $7,000
d. DR Land $7,000 CR Note payable—State Bank $7,000
Business
1 answer:
Anestetic [448]2 years ago
4 0

Answer:

(a) DR Loss on disposal of asset $7,000 CR Land $7,000

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Marco traveled across three states to shop at Tiffany's to buy his girlfriend, Jana, a present. This is the only Tiffany's store
Llana [10]

Answer:

Exclusive.

Explanation:

In this scenario, Marco traveled across three states to shop at Tiffany's to buy his girlfriend, Jana, a present. This is the only Tiffany's store in the entire region. The degree of channel coverage for Tiffany's is exclusive.

In marketing, there are basically three (3) types of market channel coverage used by businesses;

1. Intensive market coverage: this involves a company extending its products to as many sales outlets as possible. Therefore, it's a saturation coverage of the market. Some examples are softdrinks, beer, or cigarettes company.

2. Selective market coverage: it involves a company using a limited number of sales outlets to sell its products in a region. Thus, it lie between an intensive distribution and exclusive market coverage.

3. Exclusive market coverage: this involves a company extending its products to only one sales outlets. Thus, it is the exact opposite of an intensive market coverage and a complex form of selective market coverage. It gives companies prestige and improves brand quality perceptions.

<em>Hence, the degree of channel coverage for Tiffany store is exclusive market coverage. </em>

6 0
2 years ago
Write a paragraph that explains the correlation between money supply and economic growth.
frutty [35]
The correct answer for this question is this one:
The correlation between money supply and economic growth is directly related because the as the number of money of supply increases, the significance to that with the economic growth is that there is progress. Hope this helps


3 0
2 years ago
Read 2 more answers
Please examine the following short paragraph on a hypothetical paper about cybersecurity and the Internet of Things. The writer
Basile [38]

Answer:

The errors are:

1. When the author is quoted in a sentence, his name is not in brackets, only the year of his book.  For example, the write-up should have read like this: "Shindell (2008) argues that hackers increasingly integrate ..."  This is a more appropriate way of citing an author.  However, the writer could do well to show the exact words of Shindell with quotation marks to differentiate from his or her words.

2. Two sentences were put in quotation marks without any indication of the author(s) to which the words were attributed.  Since they look like direct quotes from Shindell, the write-up should read like this: Shindell (2008) said, "during an attack, victims ..."  And the second quoted sentence should read like this: "... were hit with ransomware in the previous 12 months," according to Shindell (2008).

Explanation:

Referencing somebody else's intellectual property helps to avoid plagiarism, which is considered as a very serious crime.

3 0
2 years ago
Guerilla Radio Broadcasting has a project available with the following cash flows : Year Cash Flow 0 −$13,600 1 5,600 2 6,900 3
Fed [463]

Answer:

It will take 3 years and 77 days to recover the initial investment.

Explanation:

Giving the following information:

Year Cash Flow 0 −$13,600 1 5,600 2 6,900 3 6,300 4 4,700

<u>The payback period is the time required to recover the initial investment.</u>

Year 1= 5,600 - 13,600= -8,000

Year 2= 6,900 - 8,000= -1,100

Year 3= 6,300 - 1,100= 5,200

To be more accurate:

(1,100/5,200)*365= 77

It will take 3 years and 77 days to recover the initial investment.

6 0
2 years ago
Cable Company reported bond interest expense of $40,000 for the current year. During the year, the balance in the premium on bon
rodikova [14]

Answer:

The amount of cash paid for intrest expense during the year was $ 41.500.

Explanation:

Cash paid for interest expense  = bond interest expense + Decrease in premium on bonds payable account

                                                     = $ 40,000 + $ 1,500

                                                     = $ 41,500

Therefore, the amount of cash paid for intrest expense during the year was $ 41.500.

8 0
1 year ago
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