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Vesna [10]
3 years ago
10

Universal Travel Inc. borrowed $497,000 on November 1, 2018, and signed a 12-month note bearing interest at 4%. Interest is paya

ble in full at maturity on October 31, 2019. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2018, in the amount of:
Business
1 answer:
never [62]3 years ago
7 0

Answer:

Dec 31, 2018

Interest expense                        3313.33 Dr

    Interest Payable                           3313.33 Cr

Explanation:

The note interest is payable at an annual rate of 4%. The interest will be paid at maturity however, an adjusting entry will be made on December 31, 2018 following the accrual basis of accounting to record the interest expense that relates to the period from November to December of 2018. The interest expense will be debited and as the interest will be paid at maturity, interest payable will be credited.

Interest expense = 497000 * 0.04 * 2/12   = $3313.33

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What is watermill?write it advantages<br>​
Ilia_Sergeevich [38]

A watermill or water mill is a mill that uses hydropower. It is a structure that uses a water wheel or water turbine to drive a mechanical process such as milling, rolling, or hammering.

7 0
3 years ago
Read 2 more answers
$5000 is put into an empty savings account with a nominal interest rate of 5%. No other contributions are made to the account. w
yawa3891 [41]

Answer:

Interest in 5 years will be $1418.07 which is near about $1420

So option (D) will be correct answer

Explanation:

We have given amount invested, that is principal amount P = $5000

Rate of interest r = 5 %

Time taken t = 5 years

As interest is compounded monthly so rate of interest =\frac{5}{12}=0.416%

And time period n = 12×5 = 60 period

So total amount after 5 year will be equal to

A=P(1+\frac{r}{100})^n

A=5000(1+\frac{0.417}{100})^{60}

A=5000\times 1.2836=6418.07

We have to find the interest

Interest will be equal to = total amount - principal amount = $6418.07 - $5000 = $1418.07

Which is near about $1420 so option (D) will be correct answer

 

8 0
3 years ago
China is currently a socialist economic system. In view of china's explosive growth in supplying goods to the world do you see c
Lesechka [4]

China is currently a socialist economic system. In view of china's explosive growth in supplying goods to the world China is becoming more of a market economic system.

Generally China is defined as a mixed economy market. But it is a planned  economy with most of the characteristics of the market economic system under the trend of the globalization.

For example: China government planned to focus on electric cars and thus the same china did and for the cars which were produced in China and sold in China only were provided with the government subsidy.

However China government also plans for those things which it does not want to see in the market such as stopping corporations inside trade on stocks.

To know more about market economic system here:

brainly.com/question/13340111

#SPJ4

8 0
2 years ago
Which of the following is a result of over-diversification through acquisition? Select one:
Aleksandr-060686 [28]

Answer:

3) Corporations use acquisition as a substitute for innovation.

Explanation:

The fastest way in which a corporation can enter a new market or develop new products is through buying existing companies that already operate in the new target markets or have developed the new products that the corporation wishes to sell.

Research and development is very costly and time consuming, and on many occasions the results aren't even good or are not as good as expected. By acquiring a smaller company that has already developed the product, then the corporation might even save money.  

6 0
3 years ago
А
kotegsom [21]

Answer:

2,000

Explanation:

On average, a person who have a full time job works will work approximately 2,000 hours each year reason been that we have 5 working days in a week and standard working hours in a weeks is 40 hours (5days×8hours daily) which means 8 hours daily , secondly we have 52 weeks in a year, now assuming that person takes 2 weeks off each year for his or her vacation we would have 50 weeks left (52 weeks-2 weeks vacation) which means that the person would be working 50 weeks of the year multiply by 40 hours a week which will give us a total of 2,000 hours each year.

40 work hours weekly× 50 weeks yearly

=2,000 hours of work each year

Therefore on average, a person with a full time job works approximately 2,000 hours each year.

7 0
3 years ago
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