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Contact [7]
3 years ago
14

g On July 1, Alton Co. issued an $60,500, 10%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends

July 31. Using a 360-day year in your calculations, what is the amount of interest expense recognized by Alton in the current fiscal year? When required, round your answer to the nearest dollar.
Business
1 answer:
irakobra [83]3 years ago
8 0

Answer:

The interest expense is $521  

Explanation:

The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:

interest expense=days in the month/360days*interest rate*loan amount

interest expense=31/360*10%*$60,500=$ 521  

The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521  

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What encourages people to buy shares in the ownership of a private limited company? (please if you can, give an explanation)
sertanlavr [38]
I think the main reason people buy shares of companies is to make money.
Explain:
their idea is to buy low value of things and sell high. for example, if i buy 100 shares of a company stock valued at 25$ each i will have made a total of 2,500$. if in the next few months the shares increase to $50, I can sell them for more, Like $5,000, This is doubling your investment.
Hope that helped
6 0
3 years ago
According to the production possibilities curve above, if the economy is producing 75 fishing boats and 400 jars of guava jelly,
Thepotemich [5.8K]

Answer: the economy is using resources efficiently

Explanation:

The Production Possibility Curve simply shows how two goods can be produced in an economy when the resources that are used to produce the goods are being used efficiently without wasting them.

According to the production possibilities curve above, if the economy is producing 75 fishing boats and 400 jars of guava jelly, then the economy is using resources efficiently.

Here, economic efficiency simply means that the resources that are utilized are optimally allocated while inefficiency and wastage are being minimized. Foe economic efficiency to take place, there'll be opportunity cost. This is shown in the graph as more fishing boats are produced, less jars of guava jelly are made and vice versa.

6 0
4 years ago
Francum Company has the following data: direct labor $237,300, direct materials used $192,900, total manufacturing overhead $250
Dafna1 [17]

Answer:

(a) $680,260

(b) $710,710

Explanation:

Given that,

Direct labor = $237,300

Direct materials used = $192,900

Total manufacturing overhead = $250,060

Beginning work in process = $30,450

(a) Total manufacturing costs:

= Direct materials used + Direct labor + Total manufacturing overhead

= $192,900 + $237,300 + $250,060

= $680,260

(b) Total cost of work in process:

= Beginning work in process  + Total manufacturing costs - Closing work in process

= $30,450 + $680,260 + $0

= $710,710

6 0
4 years ago
Which is an example of a company’s liabilities? sales, wages, money owed by the company, or fleet of company’s cars
netineya [11]

Answer:

i think it is a company's fleet of cars. Because the fleet of cars is the responsibility of the company.

Explanation:

6 0
3 years ago
Nicholas, a longtime hotel manager for Wyndham, was meeting with Sophie, a regional manager, and telling her about his recent de
Alborosie

Answer: rational decision making

Explanation: In simple words, rational decision making refer to the framework under which an individual or entity makes rational calculation before choosing one decision among different alternatives. Usually the decision made directly affects their personal objectives.

In the given case, Nicholas did not fire the employee directly and took rational steps to make sure that no unfair decision making happens.

Hence from the above we can conclude that the correct option is A.

5 0
4 years ago
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