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jasenka [17]
3 years ago
13

Herrindale Mart borrows $420,000 on July 1 with a short-term loan that has an annual interest rate of 5% which is payable on the

first day of each subsequent quarter. What will Herrindale Mart need to accrue on August 31, assuming that no accrual has yet been made
Business
1 answer:
kirill [66]3 years ago
3 0

Answer:

August 31, 202x (assuming a 360 day year)

Dr Interest expense 1,750

    Cr Interest payable 1,750

Explanation:

The journal entry to record the loan:

July 1 , 202x

Dr Cash 420,000

    Cr Notes payable 420,000

The journal entry to record accrued interest on the loan:

August 31, 202x (assuming a 360 day year)

Dr Interest expense 1,750

    Cr Interest payable 1,750

Interest expense = $420,000 x 5% x 2/12 = $1,750

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amm1812

Answer:

No - FALSE

Explanation:

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3 years ago
Interactive online advertising, known as Blank______, often has drop-down menus, built-in games, or search engines to engage vie
Lana71 [14]

Interactive online advertising, is known as rich media. often has drop-down menus, built-in games, or search engines to engage viewers. This is further explained below.

<h3>What is Rich media?</h3>

Generally, Rich media is simply a word used in digital advertising to describe an ad containing sophisticated capabilities such as video, music,

In conclusion, Rich media is a big part of Interactive online advertising,

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5 0
2 years ago
The majority of 401 (k) plans are participant directed.<br> a)true<br> b) false
xxTIMURxx [149]

The plans regarding the contributions made to the 401(k) plans are directed by the participant, who is also known as an employee of the organization.

<h3>Who is a 401(k) plan?</h3>

A 401(k) can be referred to as a feature of a profit-sharing plan that enables the employees to make a partial contribution of their wages to their individual accounts.

An employee is referred to as a participant for the purpose of this plan. It is further to be noted that this plan is as per the voluntary directions of the participant.

Hence, it holds true that majority of the 401(k) plans are participant directed.

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8 0
2 years ago
If 135 TV's are sold and cost $275 to produce and is priced at $250, what is the profit/loss?
AleksandrR [38]

Answer:

$25

Explanation:

The production cost is $275.

The selling price is $250

The loss/profit will be: Selling price minus cost price

=$250 - $275

=  -$25

A loss of $25.

If this is the cost for all the 135 TVs, then the loss is only $25.

N:B

If the costs are for one TV, then the loss will be $25 x 135=$3,375

6 0
3 years ago
The earned value system starts with the time-phased costs that provide the project baseline, which is called the ___________.a.
nikklg [1K]

Answer:

A. Planned budgeted value of work scheduled.

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Earned Value system is a technique used in project management in estimating how well a project is doing in terms of the project budget and allocated schedule. It is used in estimating project efficiency in terms of the estimated deliverables. It helps in checking of the project is going according to "plan". Project efficiencies are measured against the baseline of a project which is the planned budgeted value of work with the aid of earned value system in order to quickly track any deviations in the project.

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