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allochka39001 [22]
3 years ago
7

Universal Travel Inc borrowed $500,000 on November 1, 2018 and signed a twelve month note bearing interest at 6% Principal and i

nterest are payable in full at maturity on October 31, 2018. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2018 in the amount of: A) $5,000 B) $30,000 C) $25,000 D) $8,000
Business
1 answer:
horrorfan [7]3 years ago
4 0

Answer:

Interest will be $5000

So option (A) will be correct option

Explanation:

We have given principal amount P = $500000

Rate of interest = 6 %

Time is November 1 to December 31

So time = 2 months = 0.1666 year

Interest is given by

Interest =\frac{principal\ amount\times rate\times time}{100}=\frac{500000\times 6\times 0.1666}{100}=$5000

So option (a) will be correct option

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Zapper has beginning equity of $293,000, net income of $69,000, dividends of $58,000 and stockholder investments of $24,000. Its
Yuki888 [10]

Answer:

$328,000

Explanation:

As we all know that:

Ending Equity = Opening Equity + Share Issues + Net Income – Net Loss – Dividends Paid

Here,

Opening Equity is $293,000

Money raised through Shares Issuance was $24,000

Net Income would be $69,000

Dividends paid were $58,000

There were no losses as their is Profit for the year (Net Income).

By putting values, we have:

Ending Equity = $293,000  +  $24,000   +  $69,000   -  $58,000

= $328,000

8 0
3 years ago
New Coffee Company, LLC uses JIT (just-in-time) logistical supply methods. This indicates that the company doesn't really keep l
Leona [35]

Answer:

B) Inventory turnover ratios

Explanation:

Inventory turnover measures how many times a business sells and replaces its merchandise or materials inventory during an accounting period, usually a year.

One of the basic goals of JIT is to lower the total inventories in a company, therefore increasing the inventory turnover ratio. This reduces the company's operating costs.

4 0
3 years ago
Management is considering the discontinuance of the manufacture and sale of Product G at the beginning of the current year. The
tamaranim1 [39]

Answer:

Option C. 30,000 decrease

Explanation:

At the moment Product G is covering its own variable cost which is 180,000 from its sale figure of 210,000. So there is a balance of 30,000 which product G is contributing to offset the Fixed costs of the company.

It will be inadvisable for management to discontinue the production of Product G because it appears to be making a loss. The loss is as a result of the fixed cost of 50,000 imposed (apportioned) to the product. So product G can only cover 30,000 out of this 50,000 which is resulting in the 20,000 loss.

If the product is discontinued, the 30,000 contribution of product G will be lost which will lead to a decrease in profit of that amount.

5 0
3 years ago
Define the term business leadership​
podryga [215]

Answer:

business leadership​

is the capacity of a company's management to set and achieve challenging goals, take fast and decisive action when needed, outperform the competition, and inspire others to perform at the highest level they can.

Explanation:

4 0
4 years ago
TB MC Qu. 8-198 The Puyer Corporation makes ... The Puyer Corporation makes and sells only one product called a Deb. The company
Kobotan [32]

Answer:

The Puyer Corporation

The total budgeted fixed selling and administrative expenses for February is:

$174,800

Explanation:

a) Data and Calculations:

Advertising                                       $ 51,200

Executive salaries                            $ 61,200

Depreciation on office equipment $ 21,200

Other                                               $ 41,200

Total fixed selling & admin. exp.   $174,800

b) The Puyer Corporation's fixed selling and administrative expenses are always fixed in total but not per unit of Deb within the short-term because they do not depend on Deb's volume of production or sale.  They are unlike the variable aspect of expenses that are fixed per unit of Deb but vary in total.  Those expenses which do not vary with the level or volume of sales or production activity of Deb are regarded as fixed because the level or volume of sales or production activity of Deb does not change their totals.  But, in the long-term, Puyer's fixed expenses will vary in total as well as per unit of Deb produced or sold.

7 0
4 years ago
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