Answer:interest revenue the company recognize during 2021 is $100
Explanation:
Interest for 2021 = Principal x Rate x Time
= $20,000 X 6% x 1/ 12 ( From 1st t0 31st December is 1 Month)
=$100
Journal to record accrued interest by Davenport Company
Date Accounts Titles Debit Credit
Dec 31st, 2021 Interest Receivable $100
Interest Revenue $100
Therefore, the interest revenue the company will recognize during 2021 is $100.
<u>The answer is "No".</u>
Legal compliance is regarded as a moral minimum (The base level of moral conduct expected of a business firm, which is normally characterized as consistence with the law) the base worthy standard for moral business conduct.
Business firms are liable to broad government control, practically every activity a firm attempts.
Business chiefs need to continue with alert and assess and activity and its results from a moral point of view.
Answer
(A) true
Explanation:
Stare decisis is a legal doctrine that obligates courts to follow historical cases when making a ruling on a similar case. Stare decisis requires that cases follow the precedents of other similar cases in similar jurisdictions.
The correct answer is 1.2 minutes on each question.
Interest charges on notes payable may be based on a fixed or variable interest rates.
A fixed interest rate does not change the interest amount charged over the length of the loan. With a fixed interest rate borrows can predict their payments.
A variable interest rate can change during the course of the length of the loan. The market can determine the change in interest rate and it is hard to accurately determine your payment for the length of the loan.
