Answer:
$1,050,000
Explanation:
The computation of the net income is shown below:
Net income = Sales revenue × profit margin percentage
                     = $17,500,000 × 6%
                     = $1,050,000
To determine the net income we multiplied the sales revenues by its profit margin percentage so that the correct value could be arrived.
 
        
             
        
        
        
Answer:
$1100.
Explanation:
We have been given that Nyle Corp. owned 100 shares of Beta Corp. stock that it bought in 1993 for $9 per share. In 2014, when the fair market value of the Beta stock was $20 per share.
Nyle's recognized gain on this distribution would be:


Therefore, Nyle's recognized gain on this distribution was $1100.
 
        
             
        
        
        
The correct answer among all the other choices is "Contact your lender." If you are falling behind on your student loan payments, this is the step you should take to avoid default. Thank you for posting your question. I hope this answer helped you. Let me know if you need more help. 
        
                    
             
        
        
        
Answer:
a. Journal entry to record the issue of notes
Date           Account Title & Explanation   Debit $        Credit $
Jan 1          Cash                                           350,000
                  Notes Payable                                                350,000
                   (To record the issue of notes payable)
b. Calculation of Interest Expenses
                       Particulars                           Amount $
Beginning balance of loan payment         350,000
Annual interest rate                                          4%
Interest expenses                                         14,000
Hence the interest expenses = $14,000
Principal amount is calculated as the difference between the annual payment and the interest expenses as seen below
                    Particulars                           Amount $
Annual payment                                      96,590
Less: Interest expenses                          14,000
Principal Payment                                  82,590
Hence, the principal payment =$82,590
 
        
             
        
        
        
Based on the fact that CTR, Inc sent a check to Acel Co, there will be a debit to b. Accounts receivable is debited to reinstate the CTR account. 
<h3>Which account will be debited?</h3>
The Accounts Receivable account will be debited by the Allowance for Doubtful Accounts to bring back the written off debt. 
The Account Receivable account will then be credited to cash to account for the cash being received. 
In conclusion, option B is correct. 
Find out more on bad debts at brainly.com/question/26036981