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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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Jane works in the maintenance department, which supports the production department and the research department. Jane's wages are
valina [46]
<h2>Direct to the maintenance department</h2>

Explanation:

Jane here works only in the Maintenance department. The work that he does supports both Production as well as Research. We can calculate the expenses, only by associating the department of the employee.

So, the wages should be directly associated to the maintenance department only.

We cannot add one cost to multiple department and it is not the right approach of accounting system. So the below becomes invalid.

<em>Indirect to the production department Direct to the research department Direct to the production department Indirect to the research department</em>

3 0
3 years ago
The first step a domestic firm takes when entering an international arena is usually to create an international division.
vodomira [7]

Answer:

The answer is: False

Explanation:

Whenever a company wants to go international it has a lot work to do before creating an international division. Several things must be done before, mostly research, for example:

  • Research if your product is know overseas, is there any possible market for it, are there any restraints for your products in those new markets.
  • Any legal constraint or logistical problem you have to consider.
  • Any local competition you have to worry about.
  • Does your product fit in a new culture.
  • And very many etceteras.

That should all be done before considering spending money on creating an international division.

Probably when the internet didn´t exist, communications were scarce, no Tv existed, people in one country didn´t know anything about other cultures, etc., a comp nay would have first created an international division to scout foreign markets but right now it doesn´t make sense.  

4 0
4 years ago
Jacob is a senior manager at Aries LLC. He has been earning significant bonuses in addition to his salary. He often misrepresent
Mila [183]

The name of the concept <em>which is illustrated</em> in this scenario about Jacob seeking deals that would <em>benefit his own interests more than the company </em>he is representing is known as:

  • B. Self dealing

According to the given question, we are asked to state the name of the concept <em>which is illustrated</em> in this scenario about Jacob seeking deals that would <em>benefit his own interests more than the company </em>he is representing.

As a result of this, we can see that Jacob is self dealing because he is acting in his own interests in order to get significant bonuses in addition to his salary.

Therefore, the correct answer is option B

Read more about self dealing here:

brainly.com/question/7212688

7 0
3 years ago
How to beg your professor for a passing grade?
Vlad1618 [11]
Some tears will do the job.
6 0
4 years ago
Determine the net income of a company for which the following information is available for the month of September. Service reven
Luba_88 [7]

Answer:

Net income                        167,800

Explanation:

The net income will be determinate by the difference of the revenues and revenues:

Service revenue                300,000

Salaries expense 81,000

Rent expense       48,000

Utilities expense     3,200

Total expenses                 <u>  132,200  </u>

Net income                        167,800

If provided with a tax rate, that value would be the earnigns before taxes (EBT)

We should also calculate the income tax and then, subtract the income tax to get the net income

6 0
3 years ago
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