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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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r-ruslan [8.4K]

Answer:

Option B

New Credit

Explanation:

An Intended Beneficiary refers to a third-party beneficiary that will benefit from the contract between two other parties.

In this case, New Credit is the intended beneficiary. This is  because the original contract is between Lyle and Miranda. However, the terms of the contract bring New Credit in to the picture, as a party who is to have some benefits accrued to him before the contract to be fulfilled.

Hence, in this case, New Credit is the intended beneficiary because he is a third party that is benefiting from the fulfillment of Lyle and Miranda's contract

7 0
3 years ago
In June 2016, you travel to France on vacation and stayed at a hotel in Paris. In January 2018, you took another trip to the sam
sergiy2304 [10]

In 2018, your hotel bill in dollars compared to the cost in 2016 would have been <u>more</u>.

<h3>Why would the cost be higher?</h3>

In the year 2016 the U.S. dollar could buy more Euros that it could in the year 2018.This means that the Euro got stronger.

With the Euro being stronger in 2018 than it was in 2016, spending in Euros would attract more U.S. dollars being spent so the cost of the hotel bill would have been more in 2018.

Find out more on exchange rates at brainly.com/question/1297745.

8 0
2 years ago
3. Who was the first customer of mcdonald's and what was ordered?
valentinak56 [21]

Answer:

The main McDonald's eatery was begun in 1948 by siblings Maurice ("Mac") and Richard McDonald in San Bernardino, California. They purchased machines for their little cheeseburger eatery from sales rep Ray Kroc, who was fascinated by their requirement for eight malt and shake blenders.

Explanation:

8 0
3 years ago
Using a perpetual inventory system, the entry to record the return of merchandise purchased on account includes a.
matrenka [14]

Using a perpetual inventory system, the entry to record the return of merchandise purchased on account includes 4)Merchandise Inventory.

Product vending is the practice of intentionally promoting, showing, and promoting the goods in your keep. A huge part of this is visual merchandising—the process of making plans, designing, and showing merchandise to focus on their capabilities and advantages.

Merchandising is the exercise and procedure of displaying and selling merchandise to clients. Whether or not digital or in-save, stores use vending to persuade clients' motives and reach their sales goals.

Vending approach selling merchandise to retail customers. Merchandisers, also known as retailers, buy merchandise from wholesalers. Manufacturers, upload a markup or gross earnings quantity and sell the products to customers at a better rate than what they paid.

Disclaimer: The question is incomplete. Please read below to find the missing content.

Question: Under the perpetual inventory system, all purchases of merchandise are debited to the account

1)Cost of Merchandise Available for Sale

2)Cost of Merchandise Sold

3)Purchases

4)Merchandise Inventory

Learn more about merchandise here brainly.com/question/27046371

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3 0
1 year ago
While it sounds reasonable that companies should focus on making the products it knows how to make really well, one downside of
borishaifa [10]

Answer:

Customer may not want the product which the company is making well.

Explanation:

It is not necessary that market needs those products which the company is producing perfectly. It cannot enter into product differentiation and cannot meet customer demands and needs of specific or altered products. The company can achieve specialization and can be a niche player in the market but also on the other hand company’s business is limited to only few products at which it is perfect. It cannot allow customization to its products.

6 0
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