1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Olin [163]
2 years ago
13

On December 1, Milka Inc. borrows $500,000 from the bank. Interest of 6% is due in six months. On December 31, Milka recognizes

interest. As a result of this journal entry, Milka's balance sheet reports:
Business
1 answer:
Leokris [45]2 years ago
5 0

Milka's balance sheet reports: Interest payable for one month.

<h3>What is interest?</h3>

The fee you pay to borrow money or the fee you charge to lend money is called interest.

Some features of interest are-

  • The fee paid for the privilege of borrowing money is called interest, and it is often stated as an annual percentage rate (APR).
  • The compensation a lender or financial organization receives for giving out money is called interest.
  • The most common way to represent interest is as a yearly percentage of the loan amount.
  • The interest rate on the loan is known as this percentage.
  • For instance, if you put money in a savings account, a bank will provide you interest.

The three types of interest include -

  1. simple (regular) interest: The daily interest rate, the principle, and the number of days between payments are multiplied to determine simple interest.
  2. accrued interest: The amount of interest accrued on a loan or other financial obligation as of a certain date that has not yet been paid back.
  3. compounding interest: The interest you earn on interest is known as compound interest. Simple math may be used to demonstrate this: If you have $100 and it generates 5% interest annually, you will have $105 at the end of the first year. You'll have $110.25 after the second year is over.

To know more about the estimation of simple interest, here

brainly.com/question/2294792

#SPJ4

You might be interested in
Who is your favorite character in the walking dead? mine is rick
fomenos

Answer:

do you watch riverdale?

pls dont report me im jus bored -_-

Explanation:

3 0
3 years ago
Read 2 more answers
When GaGa began adding novelty bars in new flavors, what was the effect on the width and depth of its product mix?
Yanka [14]

Answer:

It increased the depth of their product mix.

The depth of the product mix is basically how many different types of variations of the same product are offered, e.g. Coke, Diet Coke, Coke Zero, etc. Increasing product depth involves new flavors, different package sizes or other specific characteristics regarding the product.

Product width refers to the different types of products offered by the company, e.g. Toyota offers sedans, trucks, SUVs, minivans. In this case, product width is not affected.

6 0
3 years ago
93) Jack Corporation purchased a 20% interest in Jill Corporation for $1,500,000 on January 1, 2021. Jack can significantly infl
Yanka [14]

Answer:

$1,200,000

Explanation:

Jack Corporation

Carrying value before net loss:

($1,500,000 - (20% x $1,000,000))

=$1,500,000-$200,000

= $1,300,000

Jack's share of net loss recognized in full:

20% x $6,000,000

= $1,200,000

Therefore the amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill will be $1,200,000

8 0
3 years ago
In your company's management development program, there was a heated discussion between
GREYUIT [131]

Answer:

The most sensible position is to understand that theory, while not practical in itself, can be immensely helpful when dealing with pratical matters.

This is because theory gives you a sound conceptual foundation that can be used to analyze the practical context, and approach it with the best possible practical solutions.

Without theory, managers have to rely too much on intuition, which can often fail.

3 0
3 years ago
Motorola and apple are two large competitors in the cellular phone market. it is a violation of the __________ if sanjay jha ser
AURORKA [14]

Answer:

Competition act.

Explanation:

When same person on the board of two or more than two competing firms then such instance is referred to as interlocking directorate. This will significantly have an impact on the market and the competition.

8 0
3 years ago
Other questions:
  • Where would you go to set up margins on a letter?
    10·2 answers
  • Last year, Ricardo sold a piece of unimproved real estate to Cliff for $20,000. Ricardo acquired the property 15 years ago at a
    12·1 answer
  • Inventories do not include $15,000 of merchandise that was in transit on December 31, which was sold to a customer with terms f.
    8·2 answers
  • The price of imported oil rises. If the government wanted to stabilize output, which of the following could it do?
    9·2 answers
  • What distinguishes a product/service from the competition ?
    14·1 answer
  • Which of the following statements is most accurate regarding sufficient and appropriate documentation?
    13·1 answer
  • A group of 10 golfing buddies have the following annual incomes: $32,000, $12,000, $56,000, $120,000, $10,000, $38,000, $70,000,
    14·1 answer
  • A(n) ________ is an organizational change that involves rethinking the nature of the business and the nature of the organization
    15·1 answer
  • An insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000. The insured dies 15 yea
    8·1 answer
  • converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as:
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!