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torisob [31]
3 years ago
11

On January 1, 2020, Ann Price loaned $192186 to Joe Kiger. A zero-interest-bearing note (face amount, $270000) was exchanged sol

ely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2022. The prevailing rate of interest for a loan of this type is 12%. The present value of $270000 at 12% for three years is $192186. What amount of interest income should Ms. Price recognize in 2020?
Business
1 answer:
Brums [2.3K]3 years ago
3 0

Answer:

The amount of interest income should Ms. Price recognize in 2020 is $23,062

Explanation:

Amount of interest income should Ms. Price recognize in 2020

= $192186*12%

= $23,062.32

= $23,062

Therefore, The amount of interest income should Ms. Price recognize in 2020 is $23,062

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Factors leading to the slow growth of demand in embryonic industries include all of the following except the
wolverine [178]

Answer:

C) lack of venture capital for innovative products.

Explanation:

Embryonic industries are such industries that are at the beginning stage in their life-cycle. More specifically, newly established ventures are called the embryonic industry or firm.

Options A, B, D, and E all are wrong because a new firm may not produce high qualified first products. It may not have the right complementary products, the production cost may be higher than expected, and finally, there are a few distribution points. Those lead to the slow growth of the embryonic industry.

Option C is the answer because venture capitalists like to invest in innovative products, so there should not be a lack of capital.

4 0
3 years ago
Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equa
shepuryov [24]

Answer:

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared.

a. True

Explanation:

The incidence of the FICA tax refers to the extent to which an individual employee or the employing organization suffers from the imposition of the FICA tax.  In the final analysis, the incidence may not be borne by the organization but consumers of its goods and services, depending on the elasticity of demand.  Employers and employees usually split the FICA tax equally.  The FICA (Federal Insurance Contribution Act) refers to the federally mandated tax for Social Security and Medicare.

4 0
2 years ago
Fill in the missing letter. ar_ _er​
balu736 [363]
Archer

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4 0
2 years ago
Read 2 more answers
Sheridan company offers its customers a pottery cereal bowl if they send in 3 boxtops from Sheridan Frosted Flakes boxes and $1.
Evgesh-ka [11]

Answer:

$117,600

Explanation:

Boxes of Frosted Flakes ×Estimate of Box Tops to be redeemed

1,344,000×60%= 806,000

806,000- 630,000 (Box Tops redeemed) =176,400

Estimate of Box Tops left to be received /Number of Box Tops Needed per bowl

176,400/3= 58,800 Total bowls estimated to be sent to customers in future

58,800 x 2.00 (The Cost of bowls to company was $3 while the cash to be received from customer was $1)

= $117,600 Which will be the total premium liability to be recorded.

6 0
3 years ago
Read 2 more answers
Bailee works approximately 60 hours each week as an account executive with an advertising agency and rarely has time to shop. Sh
Papessa [141]

Answer:

Correct option is (a)

Explanation:

Convenience is one the most important benefit offered by online shopping websites. Not every fashion store offers services round the clock. The biggest advantage of online shopping is that it is one stop destination to purchase all types of products. It offers anytime anywhere shopping experience with no extra efforts in terms of time and waiting in queues. Products are delivered to the customer's doorsteps.

Bailee works 60 hours a week and has no time for going out for shopping. She loves the convenience of shopping online as she can shop sitting at home even at midnight and the product is delivered to her within 24 hours.

6 0
3 years ago
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