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
Katen [24]
3 years ago
9

Harper Company lends Hewell Company $13,200 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financ

ial statements on March 31. What adjusting entry should be made before the financial statements can be prepared? Select the correct answer.
Business
1 answer:
a_sh-v [17]3 years ago
6 0

Answer:

Explanation:

The journal entry is shown below:

Interest receivable A/c Dr $66

            To Interest revenue A/c $66

(Being accrued interest is recorded)

The computation of accrued interest is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $13,200 × 6% × (1 months ÷ 12 months)

= $66

The one month is calculated from March 1 to March 31

You might be interested in
One example of a primary market transaction would be the:
Reika [66]

An example of primary market transaction occurs when there is a presence of creation of securities in which there is an initial public offering the occurs in a market n means for having to make the market to sell for the first time as it is associated or showed in the public.

6 0
3 years ago
The weighted-average cost method is used by Jose, Inc. Sales are $240,000, the number of units available for sale is 100, the nu
-Dominant- [34]

Answer:

Gross profit= $195,000

Explanation:

Giving the following information:

Sales= $240,000

Number of units sold= 75

Weighted-average cost= $600 each.

<u>To calculate the gross profit, we need to use the following formula:</u>

Gross profit= sales - COGS

Gross profit= 240,000 - 75*600

Gross profit= $195,000

4 0
3 years ago
Tom tends to be ignorant about technological advancements. He was reluctant to own a smartphone even when they were well establi
8_murik_8 [283]

Answer:

(C) Laggards

Explanation:

A laggard in general refers to someone who lags behind or whose progress is slow.

The word "adopter" refers to, someone who adopts and accept something new. Adopters are categorized as, customers based upon their desire to try out new things or accept latest trends.

Five kinds of adopters are described under the said classification namely, innovators, early adopters, early majority, late majority and laggards.

In the given case, Tom belongs to the category of "laggards" as evidenced from his ignorance and unwillingness to accept technological advancements. The acceptance of a smartphone later, has been an outcome of requirement and not his own willingness here.  

4 0
4 years ago
When considering third-party service providers to host sensitive data, you should conduct a vendor risk review. What actions doe
Wewaii [24]

The actions do this include:

A)Test the vendor's hardware or software.

B)Ask the vendor to fill out a security questionnaire.

Vendor chance management (VRM), or 0.33-birthday celebration danger management, is the management, tracking, and evaluation of dangers that end result from 0.33-celebration carriers and providers of products and services.

An excessive-danger supplier is a 3rd-celebration vendor that has to get the right of entry to a agency's sensitive corporate information and/or handles its financial transactions and has a high risk of information loss. A high-threat seller is also a supplier that an organisation relies upon directly to run its operations.

A seller chance control application reduces the frequency and severity of statistics breaches, records leaks, and cyber attacks regarding 1/3 and fourth-parties, defensive touchy information, PII, PHI, and highbrow property and ensures business continuity.

Learn more about the vendor  here: brainly.com/question/24448358

#SPJ4

6 0
2 years ago
Kim has just graduated from law school. She had taken an education loan of $45,000, which now needs to be repaid in equal monthl
boyakko [2]

Answer:

Monthly installment is $724.72

Explanation:

Given:

Amount of loan (PV) = $45,000

Time period (nper) = 6 years or 6×12 = 72 months

Since amount need to be repaid in equal monthly installment

Annual interest = 5% or 0.05

Monthly interest (rate) = 0.05 ÷ 12 = 0.0041667

Calculate monthly installment (pmt) using spreadsheet function =pmt(rate,nper,PV)

Monthly installment is $724.72

Pmt is negative as it is a cash outflow.

3 0
3 years ago
Other questions:
  • Binkers, LLC and Toves Inc. have merged, doubling the number of production facilities. To help decide which facilities to keep o
    13·1 answer
  • The evaluations of financial information through analysis of plausible relationships among financial and nonfinancial data is th
    10·1 answer
  • Mike is applying for a home loan and wants to buy a house worth $150,000 in a neighborhood close to his work. however, he only h
    5·1 answer
  • What is the name of the interest payments that a bondholder receives for purchasing a bond?
    5·2 answers
  • ​(Market value​ analysis) Lei​ Materials' balance sheet lists total assets of $ 1.37 ​billion, $ 186 million in current​ liabili
    11·1 answer
  • CrochetCo is considering an investment in a project which would require an initial outlay of $350,000 and produce expected cash
    11·1 answer
  • Calvin knew his small local hardware store could not compete on price with the big-box discounters so he began offering classes
    13·1 answer
  • Which of the following statements is most likely true of market follower strategies? market followers have the resources to expa
    15·1 answer
  • Calculate the price elasticity of supply for Bobbie's Bakery's sourdough loaf. When the price changes by 23 % 23% , the quantity
    7·1 answer
  • A decrease in taxes will shift aggregate demand to the _____, cause consumption to _____, and cause output to _____. Due to the
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!