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elena-s [515]
2 years ago
10

on april 1, 2021, a company loans one of its suppliers $58,000 and accepts a 29-month, 14% note receivable. calculate the amount

of interest revenue the company will recognize in 2021, 2022, and 2023. (do not round intermediate calculations. round your final answers to the nearest whole dollar.)
Business
1 answer:
castortr0y [4]2 years ago
6 0

The amount of interest revenue the company will recognizes: For 2021 it will be $4680, for 2022 it will be $6240, and for the 2023 it will be $4680.

What is interest revenue?
The income that an organisation receives from every investments it makes or on debt it owns is known as interest revenue. A business must record interest revenue underneath the accrual basis of accounting even if it has not yet received payment in cash for the interest as long as it has earned this same interest; this is done through an accrual journal entry. Interest revenue is only recorded under the cash basis of accounting when the entity receives a cash payment for interest.

For instance, if a business uses the accrual method of accounting, it might spend $10,000 on a certificate of deposit that yields 6% interest and generates $600 in interest income after a year.

The amount of interest revenue the company will recognizes :
2021 => $52000 × 12% × 9/12 = $4680
2022 => $52000 × 12% × 12 = $6240
2023 => $52000 × 12% × 9 /12 = $4680

To learn more about interest revenue
brainly.com/question/19341720
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lilavasa [31]

Answer:

ii. Her accounting profit was $150,000

iii. Her economic profit was $50,000

Explanation:

The computation is shown below:

For accounting profit, it is

= Total revenues - total expenses i.e explicit cost

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And, for economic profit

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Hence, the second and third options are correct

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ohaa [14]

Answer: They must continue with their work, which goes beyond being housewives.

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3 0
3 years ago
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An individual is on the game show Squeal or No Squeal, and she has a choice between receiving a certain gain of $100,000.00 and
jeka57 [31]

Answer:

she is acting like a person who is a risk lover

Explanation:

we get missing option they are as

A) irrationally B) like a person who is risk neutral C) like a person who is a risk lover D) like a person who is risk averse

so here correct answer is (c) like a person who is a risk lover because

here when she gain gain of $100,000.00 and than with 50.00% chance of winning amount  $200,000.00 or it will be zero

As a risk lover means a risk taker. Risks may be uncertain or positive or negative in the future.  

A risk taker or risk lover is a person's ability to take a risk on investment or gambling to earn a high return. The result can be positive or negative.

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5 0
3 years ago
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Vesnalui [34]
The answers are as follows:
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4 0
4 years ago
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your current salary is $61,950.00. if you received a 5% raise last year, what was your salary last year before your raise?
emmasim [6.3K]

your current salary is $61,950.00. if you received a 5% raise last year then your salary last year before raise was 58,853.

   Five percent of 61,950 is 3097 and after subtracting 3097 with the current salary we get 58, 853. Hence 58,853 was the salary before the raise.

   The formula to calculate the pay raise in the salary is:

new salary = old salary + old salary * raise %

If you know the raise percentage and want to determine the new salary amount:

 Convert the percentage into decimal form.

   Multiply the old salary by this value.

   Add this new value to the old salary.

To learn more about salary click here:

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8 0
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