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1 year ago

Von hayek's kayaks can borrow $12,500 for 60 days at a cost of $220 interest. what is the effective rate of interest?

1 answer:

6 0

The principal amount is $12,500. From the above statement the interest for two months is $220. And the annual interest is 1320. This is 10.56% of the principal amount. So the rate of interest in 10.56

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Journalize the following transactions of Trapper Jon’s Productions. Assume 360 days in a year. If an amount box does not require

amid [387]

Answer:

June 23 Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.

Dr Notes receivable 48,000
Cr Accounts receivable 48,000

Sept. 21 The note is dishonored by Radon Express Co.

Dr Accounts receivable 48,960
Cr Notes receivable 48,000
Cr Interest revenue 960

When a customer defaults on a note, the company is allowed to convert the note back to accounts receivable and charge any accrued interests. Depending on the client, the company can give them more time (by switching back the note into accounts receivable) or the company can write off the note and try to sell it to a collection company.

Oct. 21 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21.

Dr Cash 49,368
Cr Accounts receivable 48,960
Cr Interest revenue 408

7 0

1 year ago

In spring 2014, Parmac Engineering Company signed a $160 million contract with the city of Parkersburg, to construct a new city

xz_007 [3.2K]

Answer:

c. $64 million

Explanation:

For computing the revenue recognized, first we have to determine the percentage which is shown below:

= Cost incurred in 2014 ÷ expenses incurred

= $48 million ÷ $120 million

= 40%

And, the contract price is $160 million

So, the revenue recognized would be

= Contract price × percentage

= $160 million × 40%

= $64 million

8 0

1 year ago

Phil’s filling station gas station operates on a patch on the highway in a patch where there were no gas stations close by. It e

Harman [31]

Answer: Both A and C

Explanation:

The Phil's filling gas station operates on a highway was solo in that area and had no other gas stations nearby.It enjoyed the profit .

Sooner a new gas station opened near Phil's gas station.The profit of the Phil's gas station started decreasing. This was because the it has to lower prices to increase its demand and as there were substitutes available in the market now, people moved to another gas stations for their need.

Both of the cases will decrease its profit.

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2 years ago

Melon Lawn Co. advertises its new XJ200 lawn mower. Salespersons describing the XJ200 on behalf of Melon Lawn describe it as a "

kramer

Answer:

c. puffery

Explanation:

Puffery happens when advertisers are trying to encourage people across different techniques to purchase a product or service.

A business can send an amusing advertisement about its product, contrast the product to a similar item, mention product details, or make broad statements about the product that can not be proven to be true.

7 0

1 year ago

Wrongful Discharge. Stephen Fredrick, a pilot for Simmons Airlines Corp., criticized the safety of the aircraft that Simmons use

kogti [31]

Answer:

Really want to help but I cant . Maybe next time I can help Maybe not but because we dont meet again

By the way .... this Virus.

mmuah thabks for the points

7 0

1 year ago