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vladimir2022 [97]
3 years ago
7

Giorgio Italian Market bought $11,100 worth of merchandise from Food Suppliers and signed a 120-day, 9% promissory note for the

$11,100. Food Suppliers journal entry to record the sales transaction is:
Business
1 answer:
Anvisha [2.4K]3 years ago
4 0

Explanation:

The journal entry is as follows

Notes receivable A/c Dr $11,100

         To Sales A/c $11,100

(Being the sales is recorded)

Since the merchandise transaction is done through note receivable so we debited the note receivable account and the transaction is of sale type so the sales account is credited. Both the transactions are recorded at $11,100

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Bethany needs to borrow $10,000. She can borrow the money at 6% simple interest for 5 yr or she can borrow at 5% with interest c
marishachu [46]

Answer:

a. $3000

b. 2840.25

c. compounded continuously

Explanation:

a. principal amount,  p = $10000

Interest rate in the case of simple interest = 6%

Time, t = 5 years

Interest amount = Prt

Interest amount = 10000 x 6% x 5 = $3000

b. principal amount,  p = $10000

Interest rate, r = 5%

Time, t = 5 years

Interest amount = Pe^(rt) - P

Interest amount = 10000 (2.71)^(5% x 5) - 10000

Interest amount = 2840.25

c. Compounded continuously has a lower interest amount.

3 0
2 years ago
What is a risk assessment?
natta225 [31]

Answer:

Risk assessment is one of the steps used in a risk management process. The risk R is assessed by measuring the two parameters that determine it, the magnitude of the possible loss or damage L, and the probability p that said loss or damage will occur. According to ISO 31000, the Risk Assessment actually refers to the Risk Assessment.

Risk assessment is probably the most important step in a risk management process, and also the most difficult and most likely to make mistakes. Once the risks have been identified and evaluated, subsequent steps to prevent them from occurring, protect against them or mitigate their consequences are much more programmatic.

Part of the difficulty in risk management is that measuring the two parameters that determine risk is very difficult, which is why it is said to be a subjective process. The uncertainty associated with the measurement of each of the two parameters (L and p) is usually large. Risk management would also be simpler if it were possible to have a single metric that reflects all available information in the measurement. However, this is not possible, since it is about measuring two quantities. A risk with great magnitude of loss or damage and a low probability of occurrence must be treated differently than a risk with a reduced magnitude of loss or damage and a high probability of occurrence. In theory the two indicated risks have an identical priority for their treatment, but in practice it is quite difficult to manage them when faced with limitations in the available resources, especially time to carry out the risk management process.

3 0
3 years ago
A standing bill is one that has been passed as a law.<br> a. True<br> b. False
Charra [1.4K]
It is true that a standing bill been passed


7 0
3 years ago
Read 2 more answers
Merchandise sold FOB destination indicates that: Multiple Choice The seller transfers title to the buyer once the merchandise is
bekas [8.4K]

Answer:

The seller transfers title to the buyer once the merchandise is shipped

Explanation:

Free onboard shipping point refers to a practice where the buyer of a product takes responsibility of the good once it is shipped by the seller.

So when the supplier ships a product he can record a sale because the ownership of the good has been shifted to the seller abd he will be paid for services rendered.

The buyer will record an increase in his inventory at this point and make provision for risk of shipping along with shipping cost.

3 0
3 years ago
Use the graph to answer the question that follows.
Damm [24]

The movement from point B to point A is due to the price that companies can charge for the product decreases. Therefore the 3rd option is correct.

<h3>What is supply?</h3>

Supply is the economic concept which refers to the availability of the products and commodities in the market in order to satisfy the needs of the consumers.

According to the Graph, The prices of the commodity is decreased from $20 to $5 and output is also decreased from 200 units to 100 units which implies the decrease in the prices of the product which further implies the decrease in the level of supply.

Therefore the 3rd option is correct.

Learn more about supply here:

brainly.com/question/9054714

#SPJ1

5 0
1 year ago
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