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Vesnalui [34]
3 years ago
13

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

e of interest. What is the amount of interest revenue that Rosewood would report in Year 1 and Year 2, respectively? Multiple Choice $960 in Year 1 and $0 in Year 2 $0 in Year 1 and $960 in Year 2 $240 in Year 1 and $720 in Year 2 $720 in Year 1 and $240 in Year 2 Next
Business
1 answer:
erastovalidia [21]3 years ago
8 0

Answer:

The correct answer is $720 in Year 1 and $240 in Year 2 Next.

Explanation:

According to the scenario, the given data are as follows:

Loan Amount =$16,000

Rate of interest = 6%

Time period for first year (Apr - Dec) = 9 months

Time period for second year ( Jan - Mar) = 3 months

So, we can calculate the amount of interest by using following formula:

For first year:

Amount of interest (1st year) = $16,000 × 6% × 9 ÷ 12 = $720

Amount of interest (2nd year) = $16,000 × 6% × 3 ÷ 12 = $240

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Lexie, a marketing manager, regularly interviews candidates for her team. Because Lexie is a
bogdanovich [222]

Lexie's interviews are not as effective because she does not care about the professional training of the people she will hire, which can have serious consequences on the operation of the company. On the other hand, the referral system would also hinder the operation of the company because the skills or abilities of the employees are not verified.

When we do a recruitment process, we must have several aspects in common to hire or dismiss a job applicant. Among the aspects that must be taken into account are:

  • Work experience.
  • Vocational training.
  • Other experiences.

Following the foregoing, the person in charge of the selection process must objectively select the candidate who best fits a job based on her experience or professional training.

According to the above, Lexie is limiting her liability because she only looks at aspects of the applicants' personal lives without evaluating their ability to perform a job. Additionally, you should carry out some tests on the applicants to verify their work capabilities.

On the other hand, in the referral system, she has several limitations because she accepts the criteria of another individual or organization to hire a person without herself evaluating him to fit the job that she requires.

Learn more about teamwork in: brainly.com/question/18869410

3 0
2 years ago
Which costs can be directly traced to the product being manufactured? Group of answer choices Direct Costs Period Costs Sunk Cos
Vlad1618 [11]

Answer:

The correct answer is: direct costs.

Explanation:

The direct costs are the costs that can be easily traced to the goods or services or projects. It includes material and labor cost and distribution cost incurred in the production of a product.

It is contrasted to indirect costs which cannot be traced to a product and is not directly linked to a product.

The sunk costs are cost which has already been incurred are no longer relevant for economic decisions.  

Fixed costs are the costs that do not vary with the change in the volume of product.

So, the direct cost is the correct answer.

5 0
4 years ago
1. The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of
Scilla [17]

Answer:

  • Government legal minimum price $4.50 : Price Floor [Binding]
  • Government maximum set price $4.50 : Price Ceiling [Non Binding]

Explanation:

Price Ceiling is the maximum mandated price by the government , at which a commodity can be sold in the market. It is binding if price ceiling is set below the free market equilibrium price level. It is usually set to protect interests of buyers.

Price Floor is the minimum mandated price by the government, at which a commodity can be sold in the market. It is binding if price floor is set above the free market equilibrium price level. It is usually set to protect interest of sellers.

'The government has instituted a <u>legal minimum price</u> of $4.50 per gallon for gasoline' is an example of Price Floor. As floor price 4.50 > equilibrium price  4 , it is binding.

'The government <u>prohibits</u> gas stations from selling gasoline for <u>more than</u> $4.50 per gallon' is an example of Price Ceiling. As price ceil 4.50 > equilibrium price 4 , it is non binding.

4 0
3 years ago
What would be your vote for the most important Canadian invention? Why did you pick this invention?
zalisa [80]

Answer:

is this a essay question beacuse dont do those

Explanation:

5 0
3 years ago
The changes in account balances of the Vel Corporation during Year 6 are presented below: Increase Assets $356,000 Liabilities 1
zzz [600]

Answer:

b. $ 36,000

Explanation:

The fundamental accounting equation is

Assets = Liabilities + Stockholders Equity

Per the data provided in the question regarding changes in account balances

$ 356,000 = $108,000 + (240,000+24,000)

$ 356,000 = $ 372,000

= - ($ 14,000)

Since the data provides that a dividend payment of $ 52,000 has been made, we have to add it to our differential balance to get the income for the year.

$ - 14,000 + $ 52,000  = $ 36,000

6 0
3 years ago
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