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Alecsey [184]
3 years ago
5

On October 1, 2021, Stripes Inc. lends $100,000 to another company and accepts a 24-month, 6% note. What is the amount of intere

st revenue Stripes will report in its 2023 income statement? $0. $4,500. $12,000. $6,000.
Business
1 answer:
geniusboy [140]3 years ago
6 0

Answer:

$4,500

Explanation:

By the 24th month,  stripes will have cleared paying the interest.

In 2021, stripes will pay interest for three months( Oct, Nov, and Dec)

In 2022, stripes will pay interest for 12 months

in 2023, stripes will pay interest for 24-(3+12)= nine months

Interest for nine months.

Interest = P x R X T

P =$100,000

R= 6%

T= 9 months

=$100,000 x 6/100 x 9/12

=$100,000x  0.06 x 0.75

=$6000 x 0.75

=$4,500

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Solution :

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                                 Bank Reconciliation Statement, July 31

       BANK                                                                 BOOK

Ending balance from        $11,828.12      Balance from the ledger   $9,381.58

bank statement.

Add :                                                         Add :

Deposit in transit              $4,650.03    Note payable borrowed       $5,200

                                                                from bank

Error by bank                    $422.50      Error in recording payment    $1275.3

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Less:                                                          Less :

Outstanding checks       $1,908.27        Service charge                $32.50

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Reconciled cash balance $ 14992.38   Reconciled cash balance  $14992.38  

b).

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July 31             Cash                                                   5,200.00

                        Notes payable                                                            5,200.00

July 31             Cash                                                   1275.3

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July 31              bank charges                                   32.50

                         Cash                                                                              32.50

July 31              Accounts receivable                         832    

                        cash                                                                                832

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What would happen to the body if the body temperature continue to decrease during the 10th hour instead of leveling off
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there body would over heat

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Hypothermia occurs when the core body temperature drops below 35°C, ie it is unintentional excessive heat loss. According to the graph shown in the question, hypothermia would happen if body temperature continued to decrease over the tenth hour rather than stabilize.

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3 years ago
Elmer Sporting Goods is getting ready to produce a new line of golf clubs by investing $1.85 million. The investment will result
Tems11 [23]

Answer:

The payback period for this project is 2.43 years.

Explanation:

Elmer Sporting Goods is getting ready to produce a new line of golf clubs by investing $1.85 million.

The investment will result in additional cash flows of $525,000, $812,500, and 1,200,000 over the next three years.

The payback period is the time it takes to cover the investment to be covered by returns.

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= $1,325,000

The investment cost remaining in the second year

= $1,325,000 - $812,500

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= \frac{\$ 512,500}{\$ 1,200,000}

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