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Doss [256]
3 years ago
14

On November​ 1, 2018, Arch Services issued $ 305 comma 000 of eightminusyear bonds with a stated rate of 11​% at par. Interest p

ayments occur each April 30 and October 31. On December​ 31, 2018, Arch made an adjusting entry to accrue interest at yearminusend. What is the amount of Interest Expense that will be recorded on December​ 31, 2018?​ (Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)
Business
1 answer:
Jobisdone [24]3 years ago
7 0

Answer:

$5,603

Explanation:

The calculation of Interest Expense is shown below:-

Interest made accrued on Dec 31, 2018 = Services issued × Stated rate × Remaining months ÷ Number of Months in a year

= $305,000 × 11% × 2 ÷ 12

= $305,000 × 11% × 0.167

= $5,603

Therefore for computing the Interest Expense we simply applied the above formula.

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Ivahew [28]

Yes it does. Unemployment is when a person isn't currently hired at a work pleace. If people are unemployed they are making no income so less people are in need of products so it lowers the demand.

6 0
3 years ago
The most important and volatile component of the current account in the U.S. balance of payments is:
astraxan [27]

Answer: net exports

Explanation:

Balance of payment simply shows the estimation of the inflows and outflow of a nation's money for a certain year. It should be noted that current account of the balance of payment consists of three main components which are the trade in Goods, the trade in services, and the transfer payments.

The trade in goods is segregated into imports and export. This therefore makes the net exports volatile and vital because it has higher share in a current account.

3 0
3 years ago
Maya owes $20,000 on her credit cards, her adjustable mortgage rate has just gone up, and she has been out of work for 3 months.
grigory [225]

Answer: exhaustion

Explanation:

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7 0
3 years ago
Based on the following information: Assume that Forrest Company uses the LIFO accounting method. In year X1, Forrest reported th
Andru [333]

Answer:

a. $15,500

Explanation:

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Value of units purchases (year X1) outstanding after sales = (2,000 - 1,500) * $11 = 500 * $11 = $5,500

Therefore, we have

LIFO Inventory on 12/31/X1 = Value of beginning Inventory (1/1/X1) + $5,500 = $10,000 + $5,500 = $15,500.

8 0
3 years ago
The operations vice president is adjusting the production quantities for the upcoming month of March for the coal company. Last
12345 [234]

Answer:

The correct answer is letter "B": Increase output and hire more workers.

Explanation:

According to the supply law, if the price increases so will the quantity supplied and if the price decreases the same will happen with the quantity supplied. We could say that the relationship between price and quantity supplied is directly proportional.

In the example, <em>as the price of coal increased so will the quantity supplied</em>. <em>If there is to be more supply the output should be higher which is likely to be interpreted in a need for more employees</em>.

6 0
3 years ago
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