Answer:
The Journal entry is as follows:
On December 31, 2021
Interest Receivable A/c Dr. $147
To Interest revenue A/c $147
(To record the interest receivable)
Working notes:
Interest Receivable:
= Amount received × Annual rate of interest × Time period
= $3,600 × (14% ÷ 12) × 3.5
= $3,600 × 0.01167 × 3.5
= $147
Answer:
Net income $1,265
Explanation:
The computation of the net income or net loss is shown below:
Revenues
Cash revenues $2,900
Credit revenue $2,050
Total revenues (a) $4,950
Less:
Expenses :
Rent ($1,275)
Telephone ($280)
Salaries ($1,750)
Office cleaning service ($380)
Total expenses (b) ($3,685)
Net income $1,265 (a - b)
Answer: True
Explanation: The organizations that are market oriented focus on keeping healthy relationships with their customers and providing them best service for a positive image in the market. The products offered by such organisations are made in such a way that the consumer gets maximum benefit from it and the needs of customers could be satisfied.
Thus, from the above we can conclude that such organisations emphasize on customer satisfaction and needs, therefore, the given statement is true.
profit is the sum of all the values that customers give up to gain the benefits of having or using a product or service. Hence, option B is correct.
<h3>What is profit?</h3>
The term "profit" refers to the monetary gain realized when the income from a commercial operation outweighs the expenses, charges, and taxes related to operating that enterprise.
Your profit is the amount of money left over after paying your business's expenses. The three main categories of profit are gross profit, operating profit, and net profit. The gross profit is the highest. The balance remaining after paying for the goods and services purchased is shown.
Thus, option B is correct.
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Answer:
The correct option is D
Explanation:
The opportunity cost of holding money is the cost of money in the hands of the investor rather than investing it. The trade-off among money holding money investing grounded on the other things like the interest rate which can be earned by investing.
So, it will increase when the rate of interest is increasing and people desire to hold less amount.