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gregori [183]
3 years ago
14

Montana Furniture Mart sold $120,000 of furniture on June 30 and accepted the customer's $120,000 10% 1-year note payable in exc

hange. Montana Furniture Mart would record ___ for interest on December 31 assuming that 10% approximates the market rate of return.
Business
1 answer:
ICE Princess25 [194]3 years ago
4 0

Answer:

$6,000

Explanation:

Data given in the question

Sale value of the furniture = $120,000

Interest rate = 10%

So by considering the above information, the interest recorded is

= Sale value of the furniture × interest rate × number of months ÷ total number of months in a year

= $120,000 × 10% × 6 months ÷ 12 months

= $6,000

The six months is calculated from June 30 to December 31 and we considered the same for the above calculation

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How does funding from national savings differ from funding obtained from capital inflows? National savings are repaid domestical
jolli1 [7]

Answer:

National savings are repaid domestically, whereas capital inflows are repaid to a foreigner.

Explanation:

National savings refer to the portion of the income that is not consumed, or  spent by government. It is the combined or aggregate value of all private savings and the budget balance. Therefore, national savings are repaid domestically when borrowed.

Capital inflow refers to the net amount of funds that is moved into a particular benefiting company from another country. It is usually in form of investments by foreigners and it is meant to be paid back to them.

6 0
3 years ago
Drifting off the pavement will cause ______. a pitch motion back tire traction loss an uneven shift in balance front tire tracti
kaheart [24]

Drifting off the pavement will cause front tire traction loss. When you understeer on a slippery surface around a bend or curve, you lose front tire traction.

<h3 /><h3>What is tire traction?</h3>

Traction is described as "the capacity of a wheel or tire to maintain contact with the ground without slipping." This is especially critical while driving on slick terrain, such as snow.

<h3>What factors influence tire traction?</h3>

Traction is created when multiple forces push against one another at the same time, forming a strong grip between them.

In the instance of a car, we have the weight of the vehicle, the immovability of the road, the power of the engine, and the amount of flexibility a tire possesses.

Learn more about Tire traction:

brainly.com/question/28102749

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4 0
1 year ago
In a statement of cash flows, the sum of cash inflows and outflows is equal to:
PolarNik [594]

When in the statement of cashflows, the cash inflows and the outflows are added, the result is the <u>change </u><u>in the </u><u>cash balance. </u>

The statement of cashflows shows the movement of cash in a company and how much cash the company is left with at the end of the period.

The statement includes:

  • Cash outflows which are deductions
  • Cash inflows which bring in money

Cash outflows are denoted in negatives and when added to cash inflows, show the change in the cash that the company has / its balance.

In conclusion, adding the cash inflows and outflows shows the change in cash.

<em>Find out more at brainly.com/question/15214250. </em>

5 0
2 years ago
During the​ year, credit sales amounted to​ $820,000. Cash collected on credit sales amounted to​ $780,000, and​ $15,000 has bee
Katena32 [7]

Answer:

The ending balance in the Allowance for Bad Debts is​ 20,500 CREDIT

Explanation:

The ending balance of Allowance for bad debts would be the 2.5% of sales

The adjustment is made to get the allowance for Bad Debt match the estimate uncollectible ammounts.

Notice it state <em>"company adjusted for bad debt expense"</em>

This means<u> it debit this account as much as it needed to be</u> to make allowance match the estimate allowance.

The write-off are transaction durign the period. They are irrelevant

So the ending balance is:

<em>2.5% of credit sales of 820,000 = $20,500</em>

It is important to remember that <u>Allowance is a counter-asset account</u>. His <em>normal balance is credit</em>, so the<u> final balance is credit.</u>

3 0
3 years ago
The primary purpose of the requirements analysis phase is to ________. eliminate obviously nonsensible projects before forming a
gavmur [86]
<span>The primary purpose of the requirements analysis phase is to determine and document the specific features and functions of the new system. It does not eliminate obviously nonsensible projects before forming a project development team. Identify the requisite skills needed or show personnel assigned to the project or investigates how much similar projects have cost in the past.</span>
5 0
3 years ago
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