Answer:
August 2 Notes Receivable 8000 Dr
Accounts Receivable- Ryan 8000 Cr
October 30 Interest receivable 220 Dr
Interest Revenue 220 Cr
October 31 Cash 8220 Dr
Notes Receivable 8000 Cr
Interest Receivable 220 Cr
Explanation:
When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.
On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.
- Interest Receivable = 8000 * 11% * 90/360 = $220
We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.
On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.
It is important that members of marketing channel develop the willingness to invest in each other's success to create strong partnering relationships.
<h3>Who are members of
marketing channel?</h3>
In a marketing channel, these member are the individuals that help the producer to channel their products to consumers.
The members of marketing channel includes a wholesales, retailers, agent etc.
In conclusion, these member must always be willing to invest in each other's success to create strong partnering relationships.
Read more about marketing channel
<em>brainly.com/question/25339343</em>
Answer:
7%
Explanation:
Calculation to determine the annual effective interest rate on the bonds
Using this formula
Annual Stated interest = Annual cash interest / Face vale of bonds*100
Let plug in the formula
Annual Stated interest =($7000+$7000) / 200000*100
Annual Stated interest=$14,000/20,000
Annual Stated interest=7%
Therefore the annual effective interest rate on the bonds is 7%
Answer:
price-taking assumption.
free entry assumption.
Explanation:
A perfectly competitive market is one in which different firms compete for consumers of their products. The characteristics of the perfectly competitive market are:
- products are nearly identical
- all the firms are price takers. That is they are not able to determine price independently
- buyer knowledge of information about products is perfect and available to all
- free entry and exit to the market
- resources are perfectly mobile
In the given scenario above two of these rules are not obeyed.
Alcoa was effectively the sole seller of aluminum because the firm owned nearly all of the aluminum ore reserves in the world.
So they determine the price ( they are not price takers)
Also since they own nearly all the aluminium reserves there is no free entry for new firms
Answer:
5.52%
Explanation:
The coupon rate is given below:
Given that
Future value = $1,000
Present value = $1,055
NPEr = 18 × 2 = 36
PMT = $1,000 × 6% ÷ 2 = $30
The formula is shown below:
=RATE(NPER;PMT;-PV;FV;TYPE)
The present value comes in negative
After applying the above formula, the rate is
= 2.76% × 2
= 5.52%
