Answer:
June 1
Cash $111,000 (debit)
Note Payable $111,000 (credit)
June 30
Interest expense $1,480 (debit)
Note Payable $1,480 (credit)
Nov 30
Note Payable $119,800 (debit)
Cash $119,800 (credit)
Explanation:
June 1
Recognize the Cash Asset received and a liability Note Payable
June 30
Interest for 1 month has accrued and this is calculated as :
Interest Expense = $111,000 × 8% × 1/6
= $1,480
Nov 30
Total Interest is capitalized to the Note Payable and the full amount is repaid
Total Interest = $111,000 × 8%
= $8,800
Ballon Amount = $111,000 + $8,800
= $119,800
Answer:
OPTION A
Explanation:
The primary function of an organization's board of directors is to control the actions of the upper management team to make sure that the interests of shareholders are safeguarded.
PRIMARY FUNCTION OF BOARD OF DIRECTORS
Assess the vision and mission of the company to direct its present activities and potential development and set the agenda.
Review and assess current and future possibilities, threats, and hazards in the internal setting and the company's current & future strengths, weaknesses, and hazards.
Answer:
D. A conglomerate
Explanation:
A Conglomerate is a big corporation that is composed of a various combinations of business entities seemingly unrelated but under one corporate group. It is a big organization that has numerous products and services which vary extensively from one another. It is a big parent company comprising of many subsidiaries producing different products and offering different services. In this case, Red Empire is a conglomerate, the parent company having subsidiaries in petroleum, capital markets, chemicals, steel, beverages, hospitality, airlines, education, automobiles, and consumer electronics industries all with their various brand names.
Answer:
Try try but don't cry I think we don't lose our hopes
Answer:
$960
Explanation:
Given the information from the question. We need to calculate the contribution can she deduct Since Lois paid $1200 to customary IRA and she received a $240 savers credit. Thus, she will get derivation commitment less savers credit .as a result to get contribution can she deduct is $1200-$240= $960. Therefore, the correct answer is $960.
