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julsineya [31]
4 years ago
10

Waterway industries loaned $610000 to another corporation on december 1, 2017 and received a 3-month, 9% interest-bearing note w

ith a face value of $610000. What adjusting entry should starr make on december 31, 2017? Debit cash and credit interest receivable, $13725. Debit cash and credit interest revenue, $4575. Debit interest receivable and credit interest revenue, $13725. Debit interest receivable and credit interest revenue, $4575.
Business
1 answer:
suter [353]4 years ago
3 0

<u>Adjusting entry for Interest receivable:</u>


It is given that Waterway industries loaned $610000 to another corporation on December 1, 2017 and received a 3-month, 9% interest-bearing note with a face value of $610000. Hene we need to record the Interest receivable for the period of one month as on December 31. Interest  =610,000*9%/12 = $4,575

The adjusting entry as on Dec. 31 shall be as follows;


Interest Receivable  Debit  $4,575

Interest Revenue      Credit              $4,575

(Being adjustment made for Interest receivable)


Hence, the correct answer is:

Debit interest receivable and credit interest revenue, $4575



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Which theory suggests that workers with more education earn higher wages because the extra schooling has given them additional s
san4es73 [151]

Answer:

The human capital theory

Explanation

The human capital theory explores the relationship between investment in human capital and earnings.

Investment in human capital can take the form of education or training.

The theory suggest that those that invest in human capital earn higher income

The human capital theory also explores pattern of earnings. The theory suggests that the earnings of young people would be low as they would forgo earnings to invest in human capital . Earnings would increase as one gets older because old people invest less in education and training

7 0
3 years ago
A mathematical approximation called the rule of 70 tells us that the number of years that it will take something that is growing
dusya [7]

Answer:

The answer is: It will take Mexico 28 years

Explanation:

In 2005, Mexico´s GDP per capita (MGDPpC) was only $11,000 which represented one fourth of the United States´ GDP per capita (USGDPpC) of $44,000.

The ratio of GDP per Capita between Mexico and the United States is 1:4

So when MGDPpC doubles the first time, the ratio will be 2:4 (or 1:2), so when it doubles again the ratio will b 1:1. So in order for MGDPpC to equal the amount of USGDPpC in 2005, it would need to double twice.

To find out how many years it will take Mexico to double its GDP per capita once, we must divide 70 by 5, which equals 14 years.

Since it takes Mexico 14 years to double its GDP per capita, it will take them 28 years to double it twice.

8 0
4 years ago
James wants to take out a loan. He can afford to make monthly payments of 200 dollars and wants to pay the loan off after exactl
MA_775_DIABLO [31]

A  = $250000 * (1 + 0.06/12)^(12 * 1/6)  

≈ $252506.25

4 0
4 years ago
Conversion costs do not include which of the following costs?
fomenos

Answer:

I am pretty sure the answer is A) direct materials

Explanation:

Conversion cost equals direct labour plus manufacturing overhead

6 0
3 years ago
Read 2 more answers
A company makes bikes from recycled metal. For a recent job lot of 200 bikes, the company incurred direct materials costs of $6,
uranmaximum [27]

Based on the number of bikes produced and the costs incurred, the cost per bike would be<u> $85 per bike. </u>

First find the total cost of producing all the bikes.

<h3>Total cost of production </h3>

= Direct materials + Direct labor + Factory overhead

= 6,000 + 2,000 + 9,000

= $17,000

<h3>What is the cost per Bike?</h3>

= Total cost of production / Number of bikes

= 17,000 / 200

= 85 bikes

In conclusion, it was $85 per bike.

Find out more on cost per unit at brainly.com/question/23700866.

8 0
3 years ago
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