Answer:
The answer is $3,300.
Explanation:
To calculate interest paid on an amount, the following formula is used:
Simple interest = Principal × Rate × Time
Principal = $110,000
Rate in decimal = 9% = 0.09
Time in years = 4 months = 4/12 years
∴ Simple interest = $110,000 × 0.09 × 4/12 = $3,300.
Answer:
insolvency
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
A specialized budget can be defined as a financial plan that is typically focused on specific assets or activity of a master (comprehensive) budget.
In conclusion, by appropriately preparing a forecast budget, a company can avoid insolvency.
The answer that best fits the blank is GOLD BULLION COINS. In order for you to avoid problems regarding storage, it would be best to invest in this kind of kinds. Typically, brokers would require at least 10 coins plus a 2% commission fee. Since it is gold and gold is considered to be one of the metals with a very high value, this would also mean that these coins also take the value of gold in the market.
Answer: Higher price and produce less output.
Explanation:
A monopolist is the only producer of a good in the market or at least wields significant market power. As a result, they can set their own prices without regard for how competitors would react.
This would lead to a situation where the monopoly does not have to be efficient and so will produce less goods than a perfect competition would and in order to make more profit - and because of less efficiency meaning higher costs - they will charge a higher price for output.
Answer:
$4,260
Explanation:
The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense is given below:
Estimated Uncollectible Accounts is
= $104,000 × 5%
= $5,200
Now
Bad debt expense is
= Estimated Uncollectible accounts - credit balance in Allowance account
= $5,200 - $940
= $4,260