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
Anika [276]
3 years ago
8

Rosewood Company made a loan of $16,000 to one of the company's employees on April 1, 2020. The one-year note carried a 6% rate

of interest. Principal and interest will be paid at the end of the term of the loan. The amount of interest revenue that Rosewood would report in 2020 and 2021, would be?
Business
2 answers:
bulgar [2K]3 years ago
5 0

Answer:

The answer is $720 and $240

Explanation:

Solution

Recall that:

Rosewood company made a loan of =$16,000

One year note carried an interest of =6%

Now,

We solve for the amount of interest revenue that rosewood would report

Report  is given below:

$16,000 * 6% * 9/12 = $720 Interest revenue in April to December, 2020

$16,000 * 6% * 3/12 = $240 interest revenue in January - March, 2021

Therefore the interest revenue for Rosewood report/feedback in 2020 and 2021 is  $720 and $240 respectively.

Nady [450]3 years ago
3 0

Answer:

loan interest revenue  for 2020 is $720

loan interest revenue for 2021 is $240

Explanation:

The loan interest revenue in the year 2020 is for 9 months out of the total loan tenure of twelve months:

interest revenue for 2020=$16,000*6%*9/12=$720.00  

This would be debited to interest receivable and credited to interest revenue account.

interest revenue for 2021=$16,000*6%*3/12=$240.00  

You might be interested in
Norton, Inc. has the following information available for September 2020.
bulgar [2K]

Answer: See explanation

Explanation:

a. Prepare a CVP income statement that shows both total and per unit amounts.

CVP INCOME STATEMENT

Per unit. Total

Sales (500 units). 400. 200,000

Variable expense 280 140,000

Contribution margin. 120 60,000

Fixed expense. 48,000

Net operating Income. 12,000

b. Compute Norton's breakeven in units.

Breakeven point = 48000 / 120 = 400

c. Prepare a CVP income statement for the break-even point that shows both total and per unit amounts.

CVP income statement for the break-even point

Per unit. Total

Sales (400 units). 400. 160,000

Variable expense 280 112,000

Contribution margin. 120 48000

Fixed expense. 48,000

Net operating Income. 0

3 0
3 years ago
If protective import-restricting tariffs are imposed by a country, in the majority of cases that nation's consumers end up consu
Wittaler [7]

Answer:

If protective import-restricting tariffs are imposed by a country, in the majority of cases that nation's consumers end up

paying a higher price for the good than they otherwise would.

Explanation:

Import-restricting tariffs increase the cost of goods and services imported from other countries.  Governments have various reasons for making such impositions.  Some claim that the tariffs are imposed to protect local industries or to comply with local content requirements.  However, these restrictions hamper free trade.  They also distort the competitiveness of nations.

3 0
3 years ago
The Carnegie Foundation issued a report recommending that middle schools Multiple Choice become smaller, become more personal, a
worty [1.4K]

Answer:

D. Smaller "communities" or "houses" should be developed to lessen the impersonal nature of large middle schools.

Explanation:

  • The carnage foundation is a US-based education policy and research center that is committed to teaching and developing a network of ideas, individuals, and advanced teaching institutions.
4 0
3 years ago
A decision to carry out one of the activities in the value chain internally rather than to buy externally from a supplier is a _
iogann1982 [59]

Answer:

Make or Buy

Explanation:

Based on the information provided within the question this is known as a Make or Buy decision. Like mentioned in the question this is when a company chooses to produce a product and it's activities internally (meaning within their company or their subsidiaries) as opposed to buying it externally (outsourcing).

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
Sunland Company purchased machinery on January 2, 2015, for $900000. The straight-line method is used and useful life is estimat
victus00 [196]

Answer: $63,625

Explanation:

First calculate the new Accumulated Depreciation.

Because there was an overhaul, this overhaul Reduces the depreciation of the machinery by the amount spent on the Overhaul.

Depreciation per year using Straight line is ignoring the old salavage value,

= 900,000 / 10

= $90,000

2015 to 2021 has been 6 years so,

= 90,000 * 6

= $540,000

The overhauling reduces the Accumulated Depreciation balance by it's amount so,

= 540,000 - 193,000

= $347,000

$347,000 is the new Accumulated Depreciation.

The book value of the machinery is therefore,

= 900,000 - 347,000

= $553,000

The calculate the new depreciation expense,

= 553,000 - 44,000 (new salvage balance)

= $509,000/ 8 years ( 4 years added by overhaul and 4 years remaining from original period)

= $63,625 per year

8 0
3 years ago
Other questions:
  • The stockholders’ equity section of Jun Company’s balance sheet as of April 1 follows. On April 2, Jun declares and distributes
    11·1 answer
  • J.D. formed Clampett, Inc., as a C corporation (calendar tax year) with J.D., Granny, and Jethro, Inc. (a C corporation) as shar
    10·1 answer
  • Prices usually reflect a. both the value of a good to society and the cost to society of making the good. b. only the cost to so
    14·1 answer
  • Thad Morgan, a motorcycle enthusiast, has been exploring the possibility of relaunching the Western Hombre brand of cycle that w
    15·1 answer
  • Determining the Optimal Product Mix with One Constrained Resource and a Sales Constraint Comfy Fit Company manufactures two type
    11·1 answer
  • The Evanec Company's next expected dividend, D1, is $3.03; its growth rate is 5%; and its common stock now sells for $34.00. New
    9·1 answer
  • How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?
    15·1 answer
  • Production records show that there were 440 units in the beginning inventory, 30% complete, 1,440 units started, and 1,600 units
    15·1 answer
  • Mary has a few specific items she would like to leave to her sister, Ann. She would like to leave the balance of her estate to h
    5·1 answer
  • T. Dole invests cash and land into an existing partnership. The cash invested is $30,000 and the land has a fair market value of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!