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Serjik [45]
3 years ago
9

On october 1, 2014, balkan, inc. accepted from another corporation a 1-year note receivable in the amount of $15,000, with an in

terest rate of 6%. how did this transaction affect balkan's financial statements?
Business
1 answer:
Naily [24]3 years ago
4 0
<span>Balkan's assets will increase by Accounted receivable: $15,000 + Interest Receivable (0.06)$15000 = $15,900, at October 1st, 2014.</span>
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Answer: The answer is given below

Explanation:

a. What is the extended list price of the order?

This will be gotten by multiplying the number of cases with the price list. From the question, we are told that Whole Foods Market ordered 12 cases of organic vegetable soup with a list price of $18.90 per case and 8 cases of organic baked beans with a list price of $33.50 per case.

Organic vegetable soup:

= 12 × $18.90

= $226.80

Organic baked beans= 8 × $33.50

= $268

Total = $226.80 + $268

= $494.80

b. What is the total amount of the trade discount on this order?

We are told that the wholesaler offered Whole Foods a 39% trade discount. This will be:

= 39% × $494.80

= 39/100 × $494.80

= 0.39 × $494.80

= $192.972

c. What is the total net amount Whole Foods owes the wholesaler for the order?

The total net amount will be the total price of the order and the discount. This will be:

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Problems and Applications
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Answer: See explanation

Explanation:

1. The participation of women in the U.S. labor force has risen dramatically since 1970.

A. True

2. This rise likely decreased GDP in the United States.

B. False

The above is false. This is because a rise in the participation of women in the labor force would lead to the increase in production in the country and this will bring about a rise in the gross domestic product as well.

3. Now imagine a measure of well-being that includes time spent working in the home and taking leisure.

There'll be a reduction in the measure of well being. This is because more women would have joined the labor force which would have reduced the time spent working in the home and taking leisure.

4. The change in this measure of well-being would be less than the change in GDP.

The measure of well being would fall as more women would work and leisure would reduce. Ultimately, the GDP would rise since there would be an increase in production activities.

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Answer:

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Then, we will decide whether this is trade deficit or trade surplus. A trade surplus is when the value of exports is more than that of imports while a trade deficit is when value of imports is more.
From the mentioned values, it is clear that the US suffered from a trade deficit this year.
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