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Ulleksa [173]
3 years ago
6

On November 19, Nicholson Company receives a $24,600, 60-day, 10% note from a customer as payment on account. What adjusting ent

ry should be made on the December 31 year-end? (Use 360 days a year.)
Business
1 answer:
dem82 [27]3 years ago
3 0

Answer:

Explanation:

The adjusting entry is shown below:

Interest expense A/c Dr $287

            To Interest payable A/c $287

(Being accrued interest adjusted)

The computation is shown below:

Principal × rate of interest × number of days ÷ (total number of days in a year)  

= $24,600 × 10% × (42 days ÷ 360 days)

= $287

( 11 days in November + 31 Days in December)

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Antipoverty programs that are set up so that the amount of government benefits will decline substantially as poor people earn mo
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What is the Poverty trap?

A "poverty trap" is a collection of self-reinforcing factors that causes nations to start out poor and stay that way. Because poverty breeds poverty, existing poverty directly contributes to future poverty.

In the United States, poverty traps are areas, counties, or localities with chronic institutional and economic issues that result in persistently high rates of poverty. Residents are frequently stuck in unfavorable situations where there is no chance for advancement or economic progress.

The majority of nations are enjoying some growth, and poor people don't seem to have significantly different income dynamics from those who earn more, which shows that poverty traps are not common at either the national or individual level.

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6 0
2 years ago
How old does a senator have to be?
mafiozo [28]

Answer:

<em><u>Article 58.- To be a senator, the same requirements are required as to be a deputy, except age, which will be 25 years old on the day of the election.</u></em>

Explanation:

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7 0
3 years ago
Read 2 more answers
The future earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow 7% per year. Carpetto'
bearhunter [10]

Answer:

14.05%

Explanation:

Given that,

Beta = 1.3

Risk-free rate (Rf) = 9.5%

Return on the Market (RM) = 13%

According to CAPM approach:

Cost of common equity (RE):

= [Rf + β (RM – Rf)]

= [9.5% + 1.3 (13% - 9.5%)]

= [9.5% + 1.3 (3.5%)]

= [0.095 + 1.3 (0.035)]

= [0.095 + 0.0455]

= 0.1405

= 14.05%

Therefore, the firm's cost of common equity is 14.05%.

8 0
3 years ago
The difference between variable costs and fixed costs is (CMA adapted) A. Unit variable costs fluctuate and unit fixed costs rem
Hatshy [7]

Answer:

<em>(A) Unit variable costs fluctuate and unit fixed costs remain constant.</em>

Explanation:

The <em>fixed costs</em> are the costs which have to be incurred always, irrespective of what the output produced is by the firm. For instance, a firm always has to charge depreciation on its fixed assets, pay salary to the premises staff and pay fixed salary to the managers for managing etc, irrespective of whatever output it produces.

<em>Variable costs</em> are the costs which vary with the level of output produced activity. For example, if more output is produced more will be the raw material payments, more will be the manufacturing related other expenses and more will be the wages paid to the labour etc and vice-versa.

Hence, thereby the per <em>unit variable costs fluctuate and unit fixed costs remain constant.</em>

 

7 0
3 years ago
In Jackson Jones Company, land decreased $270,000 because of a cash sale for $270,000, the equipment account increased $90,000 a
marin [14]

Answer:

The answer is D. $180,000

Explanation:

Investing activities is about spending on long term asset or long term investments.

Under investing activities in cash flow, what constitutes inflow is the sales of these long term assets like plant and machinery and what constitutes outflow is the purchase of these assets.

In this question, the inflow is the sale of equipment which us $270,000 and outflow is the purchase of equipment for $90,000.

So net cash flow from investing activities is:

$270,000 - $90,000

=$180,000

5 0
3 years ago
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