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bulgar [2K]
3 years ago
5

On February 1st, H&B Bank originated a loan for $50,000 at an interest rate of 7.2%. On March 15th, an interest payment of $

300 was received. Which of the following best describes when interest revenue should be recognized?a. At a point in time (February 1stb. At a point in time (March 15th)c. At a point in time (March 31st)d. Over time
Business
1 answer:
irina [24]3 years ago
6 0

Answer:

d. Over time

Explanation:

The interest revenue will be recognize over time, regardless of the payment

If we only recognize revenue at payment due, if the bank client doesn't paid then we cannot recognize the accrued interest receivable.

We will recognize over time.

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Whispering Winds Corp. Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Operating expenses
garri49 [273]

Answer:

<h2>                Whispering Winds Corp.</h2>

              Statement of Cash Flows (Indirect Method) 2017

Cash flow from operating activities:

net income                                             $161,100

Adjustments to reconcile net income:

+ depreciation expense                         $40,160

+ loss on sale of equipment                   $2,020

Change in current assets:

- increase in accounts receivable      ($40,050)

- increase in inventory                         ($44,310)

+ increase in prepaid expenses             $1,980

Change in current liabilities:

+ increase in accounts payable             $2,580

- decrease in accrued exp. payable   ($10,070)

Net cash provided by operating activities $113,410

Cash flow from investing activities:

purchase of new equipment              ($164,450)

sale of old equipment                           $33,650

Net cash provided by investing activities ($130,800)

Cash flow from financing activities:

Proceeds from issue of new stocks     $171,150

- redemption of bonds                         ($49,180)

- dividends paid                                   ($85,680)

Net cash provided by financing activities $36,290

                          <u>Net increase in cash $18,900</u>

4 0
3 years ago
On October 1st Joe charged $900 to his credit card, on October 10th he charged another $1,300 to his credit card, and on October
poizon [28]

Answer:

interest expense for October $ 27.25

Explanation:

       900

+  1,300 x 20/30

<u> +     100 x 15/30    </u>

1,816.67 average balance

Now we multiply this average balance by the interest rate of the credit card:

1,816.67 x 0.18/ 12 = 27.25

4 0
3 years ago
Cash to Monthly Cash Expenses Ratio Capstone Turbine Corporation produces and sells turbine generators for such applications as
Andrej [43]

Answer:

a) $1,918.17

b) 16.8 months

C) Yes, Capstone Turbine will remain in business.

Explanation:

a) To find the monthly cash expenses, we have:

Monthly cash expenses = negative cash flow from operations / 12

= 23018 / 12

= $1,918.17

b) To find the ratio of cash to monthly cash expenses, we have:

Ratio of cash to monthly cash expenses = Year end cash / monthly cash expenses

= $32,221 / $1,918.17

= 16.797

≈ 16.8 months

c) Yes, Capstone Turbine will remain in business because the calculated ratio above shows that they have cash to continue operations for approximately 16.8 months.

6 0
3 years ago
The sources of economic growth are​ _______. A. work hours growth and labor productivity growth B. democracy and labor productiv
Luden [163]

Answer:

A. work hours growth and labor productivity growth

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Free market economy.

III. Traditional economy.

IV. Command economy.

Generally, the sources of economic growth of a country are​ work hours growth and labor productivity growth.

Labor (working) is simply the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

7 0
3 years ago
a mortgage professional can use any of the following techniques to detect fraudulent documents, except:
Zinaida [17]

A mortgage professional can use any of the following techniques to detect fraudulent documents, except requiring that consumers provide only notarized supporting documentation.

A mortgage expert can spot forged paperwork using a variety of techniques. These include comparing the handwriting on an original application and any supporting papers, following the chain of custody for all verifications, and checking for watermarks and printed fraud protection patterns on pay stubs and bank statements.

A mortgage broker collaborates with all parties involved in the loan process, including the real estate agent, underwriter, and closing agent, to ensure that a borrower receives the best financing and that the loan closes on schedule.

A broker has the option of working alone or with a brokerage firm. For in-depth news, comment, and analysis, as well as market trends and business information, the industry frequently turns to MPA as a valuable resource.

To learn more about mortgages refer to:

brainly.com/question/13447700

#SPJ4

4 0
1 year ago
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