1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
amid [387]
3 years ago
5

Blossom Company lends Blue Spruce industries $61200 on August 1, 2022, accepting a 9-month, 12% interest note. If Blossom Compan

y accrued interest at its December 31, 2022 year-end, what entry must it make to record the collection of the note and interest at its maturity date
Business
1 answer:
Svetlanka [38]3 years ago
8 0

Answer:

Dr interest expense   $2448

Dr interest payable    $3060

Dr Notes payable      $61,200

Cr cash($2448 +$3060 +$61,200)                 $ 66,708.00  

Explanation:

The interest accrued at 31st December 2022 is interest for 5 months which is calculated thus:

interest as at 31st December=5/12*12%*61,200=$3060

On that interest expense would have been debited while interest payable is credited with $3060

On the due date, interest for another months need to computed as follows:

interest for four months=4/12*12%*61,200=$2448

You might be interested in
At December 31, 2020 Bramble Corp. had 298000 shares of common stock and 9800 shares of 6%, $100 par value cumulative preferred
Vika [28.1K]

Answer:

the earning per common share is $3.83 per share

Explanation:

The computation of the earning per common share is shown below

= Net income ÷ weighted number of outstanding shares

= $1,143,000 ÷ (298,000 shares)

= $3.83 per share

We simply divided the net income from the  weighted number of outstanding shares so that the earning per share could be determined

hence, the earning per common share is $3.83 per share

5 0
3 years ago
The industrial organization (I/O) model of above-average returns:
lara [203]

Answer:

The answer is A) Puts emphasis on the external environment, which plays a role in determining a company´s ability to achieve above-average returns.

Explanation:

The I/O Model of Above-Average Returns basically assumes that the industry in which a company decides to compete in has a much larger influence on performance (earnings and profit) than the choices the managers of this company make.

The basic assumptions of this organization model are:

  • The external environment imposes pressures and constraints that determine the strategies of the company and will result in above average returns.
  • It assumes competing companies control similar strategically relevant resources and pursue similar strategies.
  • Resources are highly mobile across companies, so that any differences that might develop between companies will be short-lived.
  • Decision-makers within the company are assumed to be rational and committed to acting in the company´s profit-maximizing behaviors.

8 0
3 years ago
You are a newly hired​ manager, and you attend your first meeting. you soon realize that the topic of discussion is the identifi
tatyana61 [14]
<span>from your college bcis class, you recall that they would be in the: </span>requirements analysis <span>phase of the sdlc process. 
During the requirements analysis phase of the SDLC process, we will gather all the system requirement, users' requirement, and the operational requirement of the business process.</span>
4 0
3 years ago
Which statistic indicates how often a click has led to a conversion?
dimaraw [331]
Is a question of Google Adwords Fundamentals Exam. 
The correct answer is:
Conversion rate
Explanation and more answers:
http://www.certificationanswers.com/en/which-statistic-indicates-how-often-a-click-has-led-to-a-conv...

8 0
3 years ago
HOW DO YOU GET ENROLLED INTO THE FICO SCORE PROGRAM?
Kitty [74]

Answer:

I myself don't know

Explanation:

but hope someone can help you with the answer

8 0
2 years ago
Other questions:
  • At a production level of 5,150 units, a project has total cash costs of $130,789. The variable cost per unit is $11.07, and the
    5·1 answer
  • What is a corporation?
    6·2 answers
  • Which of the following statements is true regarding the Worker Adjustment and Retraining Notification (WARN) Act? a Most federal
    15·1 answer
  • Cash sales rung up by cashiers totaled $120,500. Cash in the drawer was counted and found to be $126,000. The journal entry to r
    15·2 answers
  • Accepting the kind of criticism that can help you grow is a trait of people with
    6·1 answer
  • If Angela's $98,760 home appreciates three percent a year, will she have enough appreciation to try to sell the home for a $15,0
    10·1 answer
  • In the context of Lazarus's model of appraisal, which of the following defines the term reappraisal? a. Determining whether reso
    6·1 answer
  • Worth Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufact
    10·1 answer
  • Zeke shares the company’s organizational chart with employees during an all-staff meeting
    11·1 answer
  • The planning cycle is viewed as a linear process with a sequence of steps; however, it can also be considered cyclical so that a
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!