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Oksi-84 [34.3K]
3 years ago
12

On March 1, 2021, Bearcat lends an employee $20,000. The employee signs a note requiring principal and interest at 9% to be paid

on February 28, 2022. Record the adjusting entry for interest at its year-end of December 31.
Business
1 answer:
almond37 [142]3 years ago
5 0

Answer:

Debit interest receivable $1,500

Credit interest revenue $1,500

Explanation:

Adjust entries are used in accounting to record accrued revenue or expense at the end of an accounting period.

On March 1, 2021, Bearcat lends an employee $20,000. The employee signs a note requiring principal and interest at 9% to be paid on February 28, 2022.

We are to calculate the adjustment at December 31, 2021.

We need to calculate interest accrued at year end. The loan would have stayed for 10 months.

Interest= principal* rate* time

Interest= 20,000* 0.09* (10/12)

Interest = $1,500

So we will debit interest receivable for $1,500 and credit interest revenue.

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A sudden stop will be easier to navigate if the country borrows internationally in foreign currencies and lend locally in its do
natulia [17]

Answer: False

Explanation:

A sudden stop refers to the sudden decline in net capital inflows in the economy from outside. This is a significant method by which the economy can have access to foreign exchange.

If the country therefore borrows internationally in foreign currencies whilst lending in domestic currency, the sudden stop will be difficult to navigate because it will impair the country's ability to pay off the international creditors it has because it will not have enough of the required foreign currency to pay them.

8 0
2 years ago
The assessment ratio isa) The ratio of assessed value to market valueb) The ratio of assessed value to the average value for pro
Ivan

Answer:

The correct answer is option A.

Explanation:

The assessment value can be found by calculating the ratio of assessed value of a property to its market value.

Market value is the rate at which the property can be sold in the open market.

The assessed value is the value given to the property by the assessor's office in order to estimate property taxes.

7 0
3 years ago
For 2019, Ashley has gross income of $38,350 and a $5,000 long-term capital loss. She claims the standard deduction of $18,350 a
kogti [31]

Answer:

carryover to 2020  = $2000

Explanation:

given data

gross income = $38,350

long-term capital loss = $5,000

standard deduction = $18,350

age = 35 years old

dependent = 2 children

to find out

How much of Ashley $5,000 capital loss carries over to 2020

solution

we know that here for the individual maximum capital loss deduction is

maximum capital loss deduction  = $3000 for household

so that carryover to 2020 will be here

carryover to 2020 = 5000 - 3000 = $2000

5 0
3 years ago
An obstacle that prevents movement or progress in communication is called
alexgriva [62]

Answer:

D. communication barrier

3 0
2 years ago
The steam requirements of a manufacturing facility are being met by a boiler whose rated heat input is 5.5 × 106 Btu/h. The comb
e-lub [12.9K]

Solution:

Given Information,

Heat input is ( Q_{in} ) = 5.5 × 10^{6} Btu/h

Combustion efficiency of the boiler (n_{furnance}) = 0.7

Combustion efficiency after turn up (n_{furnance,now}) = 0.8

Operation Hour (t) = 5200h

Unit cost (c) = \frac{23 dollar}{10^{6}Btu }

Calculate heat output from the boiler  Q_{out} = Q_{in} x n_{furnance}

                                                                      = 5.5 x 10^{6} x 0.7

                                                                      = 3.85 x 10^{6} Btu/h

Calculate the heat input to the boiler after the tune-up

(Q_{in} ){new} = Q_{out} / (n_{furnance} ){new}

               = 3.85 x 10^{6} / 0.8

               = 4.8125  x 10^{6} Btu/h

Calculate the saved energy after the tune-up

(Q_{in} ){saved} = Q_{in} - (Q_{in} ){new}

                 = 5.5 x 10^{6} - 4.8125  x 10^{6} Btu/h

                 = 0.6875  x 10^{6} Btu/h

Calculate the annual energy saving ( E_{Saving} )

E_{Saving} = (Q_{in} ){saved} x t

           = ( 0.6875  x 10^{6} Btu/h ) ( 5200 hr/yr)

           = 3575 x 10^{6} Btu/h

Calculate the annual cost saving

Annual cost saving = E_{Annual saving} x Unit cost

                                = 3575 x 10^{6} Btu/h x \frac{23 dollar}{10^{6}Btu }

                                = 82225

4 0
3 years ago
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