Answer:
Interest expense $80
Explanation:
the journal entry to record the issuance of the note:
December 1, 202x, note issued in replacement of account payable
Dr Accounts payable 24,000
Cr Notes payable 24,000
the journal entry to record accrued interests payable is:
December 31, 202x, accrued interests payable
Dr Interest expense 80
Cr Interests payable 80
Interest expense = $24,000 x 4% x 1/12 = $80
Answer:
There should be no contract formed between Newsnow and Ollie.
Explanation:
To form a contract, there should be 03 essential elements which are an offer; an acceptance and an consideration the offeror gives the offeree once the contract has been delivered.
For the purpose of this question, putting aside the examination of the 02 essential elements which are an offer and an acceptance, given there are lack of certain consideration in Newsnow advertisement, there are lack of one essential element for the contract to be formed. In other words, there are no "meetings of mind" in this scenario, thus it is quite certain there is no contract between Newsno and Ollie.
Answer:
The rate of return on total assets for 2017 is 62.03%
Explanation:
The return on total shows assets shows a relationship between the net income including interest expenses and the average total assets.
The computation of the rate of return on the total assets is shown below:
Rate of return on the total assets = {(Net income + Interest expense) ÷ average total assets)} × 100
= ($185,000 + $20,000) ÷ {($404,000 + $257000) ÷ 2} × 100
= ($205,000 ÷ $330,500) × 100
= 62.03%
Answer:
move to a place where his welding skills will be valued and in demand in the marketplace
Explanation:
If Nick wants to maximize his human capital (Labour) and his wealth accumulation (income) and since he got unemployed since their is high unemployment in his town and region, he needs to move or relocate somewhere else where he can get a job to maximize his Labour and earn an income
