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inna [77]
3 years ago
12

The Pita Pit borrowed $100,000 on November 1, 2021, and signed a six-month note bearing interest at 12%. Principal and interest

are payable in full at maturity on May 1, 2022. In connection with this note, The Pita Pit should report interest expense in 2022 for the amount of ________.
Business
1 answer:
Daniel [21]3 years ago
4 0

Answer:

$4,000

Explanation:

The computation of the interest expense is shown below:

= Borrowed amount × rate of interest × number of months ÷ (total number of months in a year)  

= $100,000 × 12% × ( 4 months ÷ 12 months)  

= $4,000

The four months is taken from Jan 2022 to May 2022

We simply applied the simple interest formula to determine the interest expense and the same is shown above

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Transactions for Sunland Company for the month of June are presented below.
aev [14]

Answer:

Date          Account Detail                                    Debit                   Credit

June 1        Cash                                                $4,080

                  Common Stock                                                            $4,080

Date          Account Detail                                    Debit                   Credit

June 2       Equipment                                        $1,720

                 Accounts Payable                                                         $1,720

Date          Account Detail                                    Debit                   Credit

June  3      Rental expense                                  $910

                  Cash                                                                                $910

Date          Account Detail                                    Debit                   Credit

June 12     Accounts Receivable                         $800

                 Welding Revenue                                                           $800

6 0
2 years ago
Which of the following activities are prohibited by the Clayton Act when they lead to less competition? Each of these answers is
mariarad [96]

Answer: All of the Above

Explanation:

The Clayton Act of 1914 was passed to curb unfair business practices as well as to protect the rights of labour.

Some practices that were prohibited when they led to less competition include,

- A firm acquiring a major percentage of the stocks of a competing firm because this could signify an amalgamation of efforts on the part of both firms and they could therefore have some control over Pricing.

-A director from one business sitting on the board of a competing firm because this could lead to cooperating or Corperate espionage.

- A buyer is forced to buy multiple products from a producer in order to get a desired product is expressly forbidden.

5 0
3 years ago
What is the process of getting a product to a consumer? A. Research B. Distribution C. Wholesale D. Subcontracting
Oxana [17]
I think it b distribution
3 0
3 years ago
Read 2 more answers
___ is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, pr
pentagon [3]

Answer:

Product market expansion grid

Explanation:

Product market expansion grid -  

It is used to plan for the company , when the company is indeed of expanding , is referred to as Product market expansion grid .  

The strategy or information required for the company to increase sale of the goods and services or introducing a new product in the upcoming market , uses this plan.  

Hence , from the given information of the question,

The correct term is  Product market expansion grid .

8 0
3 years ago
What is application software?
eduard
I believe it's (D) because, An application is any program, or group of programs, that is designed for the end user. Application software can be divided into two general classes: systems software and applications software. Applications software (also called end-user programs) include such things as database programs, word processors, Web browsers and spreadsheets.
5 0
3 years ago
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