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NikAS [45]
3 years ago
8

Louvers, Inc., accepted a $15,000, 180-day, 10 percent note from a customer on May 31. On June 30, Louvers prepared a period-end

adjusting entry to accrue the $125 of interest owed on the note. The note is honored on November 27.
Required:
Prepare the necessary November 27 entry for Louvers.
Business
1 answer:
pav-90 [236]3 years ago
4 0

Answer:

Entry for November 27 is given below

Explanation:

Note receivable = $15,000

Interest receivable = $125

Interest Revenue = $15,000 x 10% x 180/360

Interest Revenue = $750 - $125 = $625

Entry

                                             DEBIT       CREDIT

Cash                                    $15,750

Interest receivable                                  $125

Interest Revenue                                     $625

Note receivable                                       $15,000

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If one U.S. dollar equals one euro, which of these could result if the euro experiences inflation? E.U. citizens could purchase
NikAS [45]

Answer:

U.S. citizens would purchase more goods from the E.U. for less money

Explanation:

In this scenario $1=€1, and when inflation occurs the purchasing power of the Euro will reduce.

One will need more euros to buy goods, for example if I buy a shirt for €3 the price may now be €5. So more euros are needed to buy the same goods.

Since the dollar did not experience inflation, its purchasing power will remain the same and stronger than the euro.

Thus the dollar will be able to now but more goods compared bro the euro.

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4 years ago
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LiRa [457]

Answer:

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6 0
3 years ago
Read 2 more answers
Ring Technology has a capital budget of $850,000, it wants to maintain a target capital structure of 35% debt and 65% equity, an
Bad White [126]

Answer:

b. $ 952,500

Explanation:

The computation of the amount of the net income for earning to meet out the requirement is shown below:

Dividend = Net income - Target Equity ratio × Total capital budget

$400,000 = Net income - 0.65 × $850,000

$400,000 = Net income - $552,500

So, the net income is

= $400,000 + $552,500

= $952,500

Hence the Net income is $952,500

Therefore the correct option is b. $952,500

3 0
4 years ago
"Elkhorn, Inc., which has excess capacity, received a special order for 4,000 units at a price of $15 per unit. Currently, produ
Degger [83]

Answer:

Profit from sale of special order of 4,000 units increase by $14000

Explanation:

given data

order = 4000 units

Sales = $ 190,000  

Cost of Goods Sold = 45,000  

Gross Margin = $45,000

Sales price per unit = $15

solution

as we know that Elkhorn has excess capacity

so sales of 4000 additional units would not affect current sales of 10,000 units

and by production of excess 4000 units fixed cost would not increase

so Variable cost per unit will be

Variable cost per unit = \frac{145000 - 30000}{10000}

Variable cost per unit = $11.5

so

Profit per unit will be

Profit per unit = Sales price -  Variable cost

Profit per unit = $15 - $11.5

Profit per unit = $3.5

so

Profit from sale of special order of 4,000 units increase as  = 4000 × $3.5

Profit from sale of special order of 4,000 units increase by $14000

7 0
3 years ago
Vesting refers to the right of the holder of an insurance policy to collect for an insurable event. the shielding of returns on
Feliz [49]

Answer:

the length of service required of an employee before he or she is eligible for a pension.

Explanation:

In business, vesting represents the process by which an employee starts to collect the money his employer (and himself) contributed to a pension plan or similar benefit plan.

The vesting date is the date when the employee starts to receive the benefits from a pension plan or similar benefit plan.

6 0
3 years ago
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