Answer:
The adjusted balance for Insurance Expense for the year will be $5,270
Explanation:
Prepaid Insurance is the value of Insurance paid before it becomes accrued and it is an current asset balance. It will be accrued as each month passes the monthly amount will be charged as expense and transferred to the Insurance expense account.
Unadjusted values:
Insurance Expense = $2,570
Prepaid Insurance = $3,900
Adjustment value of the insurance = $2700
Adjusted values:
Insurance Expense = $2,570 + $2,700 = $5,270
Prepaid Insurance = $3,900 - $2,700 = $1,200
Answer:
Debit Interest Expense and Credit Long-term Debt Expense.
Explanation:
When Price is acquiring the Duchess Incorporation, it is agreeing upon everything that the Duchess is liable to pay and and receive from any other party. Duchess has a long term debt with a fair value of $1500000, which needs to be paid by the acquiring company now i.e. Prince. Hence, the interest expense would be paid and the long-term debt expense would be decreased by the same amount.
Therefore, for that the entries would be as follows:
Debit Credit
Interest Expense $xxx
Long-term debt expense $xxx
Answer:
The government agency is providing basic and/or essential services that further deepen the interests of members of the public
Explanation:
The assertion that a firm with a monopoly power loses it freedom of contract is very true. Monopolies by its realities come with features that ultimately cater for the interests of the firm, instead of the consumers. One of these is charging an astronomical high price on a particular item of commodity, and not taking cognizance of the purchasing power of the public. A firm could to this, and ultimately get away because its the only delivering such services - the one with the enormous monopoly power. Here, there is no stiff competition among goods that may offer liberty of choices to ordinary consumers.
To mitigate these numerous power of monopolies, governmental body has been giving the power to regulate and maintain an oversight functions. They now determine the provisions of contracts. The main objective of government agency, thus, is to ensure a firm with a monopoly power considers the basic and essential interests of the members of the public - the end users. Here, members of the public are insulated from unnecesary exploitation by the monopolies.
Answer:
7.68%
Explanation:
Data provided in the question
Present value = $1,891
Future value or Face value = $2,000
PMT = 2,000 × 7.1% ÷ 2 = $71
NPER = 17 years × 2 = 34 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
So, after solving this, The pretax cost of debt is 7.68% (3.84% × 2)
Answer: E- understanding your customer
Explanation: Marketing Research is the ability of an organisation to dig deep into its process of marketing and identifying problems that might affect the future of the organisation.
Most organisation do not take marketing research serious thereby cutting any budget set aside for this purpose. For a marketing research to be effective, there are processes to be followed and they are:
1. Identifying the problem
2. develop a marketing research plan
3. collect all relevant data
4. Analyse all data and report the findings
5.put your findings into action
