1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IceJOKER [234]
3 years ago
13

The Coffee Cup Company had a credit balance of $500 in interest payable at the beginning of the period, and a credit balance of

$600 at the end of the period. Based on this information, the adjustment to net income for the period will be reported as:
Business
1 answer:
Klio2033 [76]3 years ago
4 0

Answer:

The adjustment to net income for the period will be reported as:

Debit Interest expense ($600 - $500)                 $100

Credit Interest payable                                          $100

<em>(Being interest expense for the period)</em>

Explanation:

Interest payable is the accumulation of the interest expense in the balance sheet overa specific period of time agreed with the creditor. When it becomes payable, the interest payable account is debited while cash is credited.

The interest payable in the Coffee Cup Company's account increased from $500 (credit balance) to $600 credit balance. This means there would have been an additional $100 interest expense recorded during the period in order to increase it to $600.

You might be interested in
In a cost reconciliation schedule, costs accounted for is computed by adding the cost of the beginning work in process and the c
frozen [14]

Answer:

ending work in process and the cost of units transferred out.

Explanation:

In a cost reconciliation schedule, costs accounted for is computed by adding the cost of the ending work in process and the cost of units transferred out.

The cost reconciliation schedule gives the relationship between total costs accounted for and total costs to be accounted for.

When the total costs accounted for equal the total costs to be accounted for, this is a cost reconciliation schedule.

8 0
3 years ago
Fleming Company has the following cumulative taxable temporary differences: 12/31/18 12/31/17 $1,600,000 $2,250,000 The tax rate
jeyben [28]

Answer:

Pretax financial income is $3,350,000.00

Explanation:

Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.

Taxable income is $4,000,000

Difference in cumulative  taxable difference=$1,600,000-$2,250,000

                                                                        =-$650,000

pretax  financial income=$4,000,000+(-$650,000)

                                                    =$4,000,000-$650,000

                                                    =$ 3,350,000.00  

The pretax financial income for year 2018 is  $3,350,000.00  

7 0
3 years ago
You want to retire exactly 35 years from today with $2,020,000 in your retirement account. If you think you can earn an interest
kompoz [17]

Answer:

Monthly deposit= $485.93

Explanation:

Giving the following information:

You want to retire exactly 35 years from today with $2,020,000 in your retirement account.

interest rate= 10.35 percent compounded monthly

First, we need to calculate the monthly interest rate.

Monthly interest rate= 0.1035/12= 0.008625

Now, using the following formula we can calculate the monthly deposit:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

n= 35*12= 420

A= (2,020,000*0.008625) / [(1.008625^420)-1]

A= $485.93

4 0
3 years ago
Piazza, a pedestrian, was injured when struck by a vehicle driven by Delaney, who ran a stop sign. At the time of the accident,
Ghella [55]

Answer:

Piazza should sue DGA Corporation because he (or she?) was struck by a company vehicle and the driver was acting within the scope of his normal employment tasks. Piazza might also sue Delaney along with DGA, since DGA is a small corporation and as a corporation is considered a separate legal entity whose shareholder equity might be really low.  

Piazza can sue for compensatory damages including pain and suffering, medical bills and lost wages.

6 0
3 years ago
In a within-groups design, each participant experiences all levels of the –. There are two types of this design. The first is th
kati45 [8]

In a within-groups design, there are two types of this design which are:

  • The repeated-measures design
  • The concurrent-measures design

<h3>What is  within-groups design?</h3>

A within-groups design is known to be a kind of an experimental design that is one where each participant is said to often experiences the total levels of the independent variable.

Note that there are two types of this design which is the repeated-measures design whose role is to measure or one  where participants are said to be opened to a lot of levels of the independent variable and they are known to be tested on the dependent variable after every exposure.

The second is said to be the concurrent-measures design and this is one where participants are said to communicate with the different levels of the independent variable in a simultaneous way..

Hence, In a within-groups design, there are two types of this design which are:

  • The repeated-measures design
  • The concurrent-measures design

Learn more about concurrent-measures design  from

brainly.com/question/25662476

#SPJ1

8 0
1 year ago
Other questions:
  • ​if, when a firm doubles all its​ inputs, its average cost of production​ increases, then production displays
    6·1 answer
  • A small local bank has made many loans to several energy companies recently because these companies have had no problem repaying
    8·2 answers
  • Complete the balance sheet and sales information in the table that follows for J. White
    5·1 answer
  • A thirty-year U.S. Treasury bond has a 4.0 percent interest rate. In contrast, a ten-year Treasury bond has an interest rate of
    10·1 answer
  • Fundamental areas of management in supply chain operations management include:____________
    8·1 answer
  • Walter is the manager of sales operations at Woode Industries. He has to define the sales goals for the forthcoming financial ye
    14·1 answer
  • Wisconsin Cheddar has introduced an aged jalapeno cheddar. Displays are set up at various retail cheese stores in the state and
    10·1 answer
  • Delta Insurers typically affirms or denies claims within 120 days after it receives proof of loss statements. Which statement is
    15·1 answer
  • What are the characteristics of open and honest communication?
    12·1 answer
  • Inflation makes certain things less valuable in real terms, including: Group of answer choices your full college scholarship. re
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!