Answer:
Journal Entries
2018
Feb. 1 Debit 6% Note Receivable (Candace Smith) $12,000
Credit Cash $12,000
To record receipt of a one-year, 6% note.
Apr. 6 Debit 12% Note Receivable (Park Pro) $6,000
Credit Sales Revenue $6,000
To record receiving a 90-day, 12% note.
Apr. 30 Debit Interest Receivable $230
Credit Interest Revenue $230
To accrue interest revenue for both notes.
Explanation:
a) Data and Analysis:
2018
Feb. 1 6% Note Receivable (Candace Smith) $12,000 Cash $12,000
a one-year, 6% note.
Apr. 6 12% Note Receivable (Park Pro) $6,000 Sales Revenue $6,000, receiving a 90-day, 12% note
Apr. 30 Interest Receivable $230 Interest Revenue $230
($12,000 * 6% * 3/12) + ($6,000 * 12% * 25/360)
= $180 + $50
= $230
Answer:
The Fair Labor Standards Act was established in 1938.
Answer:
A technical school that specializes in computer training.....Hope this helps!
Answer:
It will be more profitable to vertically integrate because the company will be able to further reduce its costs.
Explanation:
Profit = Sales - Cost
The lower the cost, the higher the profit (if sales remains the same).
A Vertical integration strategy requires a company to <u>own or control its suppliers (backward integration) or its distributors or retailers (forward integration)</u>, and therefore, gain more control over its value chain.
<em>If the U.S. automobile company chooses to vertically integrate into the car retailing business in countries where it sells most of its cars, then it would cut out certain costs, such as the cost of contracting with independent car dealers, which would further improve profitability.</em>
Also, such forward integration into retailing means the company will develop processes along its value chain that will increase the efficiency of its operations.
Answer:
d. 3.5 years
Explanation:
We know that payback period is the estimated length of time it takes cash inflow from a project to recover back the cash outflow.
It is to be noted that the payback period makes use of cash flow and not profit, hence denoted by;
Payback period = Initial cost / Annual net cash inflow
Given that;
Initial cost = $420,000
Annual net cash inflow = $120,000
Therefore,
Payback period = $420,000 / $120,000
Payback period = 3.5 years
