Answer:
Interest expense --------$1,500
Interest payable-------------- $1,500
Explanation:
Given the following ;
Amount of note signed = $75,000
Annual interest rate = 12% = 0.12
Date signed = November 1
Calculate interest expense to be made in the adjusting entry by December 31 :
NOTE: No entries have been made previously for the interest expense
Monthly Interest = (Amount × rate) ÷ 12
Monthly interest = ($75,000 × 0.12) ÷ 12
Monthly interest = $9000 ÷ 12 = $750
November 1 to December 31 = 2 months
$750 × 2 = $1500
Interest expense = $1,500
In risk management, risk evaluation involve Risk resolution. The evaluation process is carried out by management.
<h3 /><h3>What is Risk?</h3>
Risk is the threat of things going wrong or having a negative impact on the operations of the organization. The risk can be of many types including and not limited to audit risk, control risk, credit risk, business risk, inherent risk, financial risk and more.
Risk is evaluated by the management to minimize the effects and mitigate the risk. There are several steps that are performed to analyze the risk and many ways are there to lower the effects of risk.
Risk resolution is the management strategies to analyze the risk and the best ways to mitigate the effects. Transfer the risk, avoid the risk by changing the decision, reduce and accept.
Learn more about Risk at brainly.com/question/27247805
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Answer:
125,200
Explanation:
Adjust inventory to base year prices:
= Cost of ending inventory ÷ cost index for the year
= $136400 ÷ 1.1
= $124,000
Current year LIFO layer:
= Adjust inventory to base year prices - Cost of beginning inventory
= $124,000 - $112,000
= $12,000
Inventory to be shown:
= Add the new LIFO layer at end of period prices to prior year LIFO inventory
= (112,000 × 1) + (12,000 × 1.1)
= 112,000 + 13,200
= 125,200
Answer:I do not think there is a subject less important than another.
Explanation: I say this because its true, and that you need to know math to have a job. You ned to know how to read so you can know what to type. And you need to know science because its amazballs!!
