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Marysya12 [62]
3 years ago
5

On January 1, Avers Co. borrowed $10,000 cash from Main St. Bank by signing a 60-day, 8% interest-bearing note. On March 1, Aver

s pays the amount due in full. The March 1 entry would be recorded by Avers with a debit to (Accounts Payable/Notes Payable/Cash)_____ in the amount of _______.
Business
1 answer:
balandron [24]3 years ago
4 0

Answer:

Notes Payable, $10,000

Explanation:

The journal entry when the amount is borrowed is as:

On January 1

Cash A/c.........................Dr  $10,000

      Notes Payable A/c......Cr  $10,000

Being amount borrowed from bank by signing the note

The journal entry which is to be recorded when made payment in full

On March 1

Notes Payable A/c...............................Dr   $10,000

Interest A/c............................................Dr    $133

     Cash A/c..................................................Cr    $10,133

Being the amount paid in full

Working Note:

Interest = Amount borrowed × 8% × Days / Number of days

= $10,000 × 8% × 60/365

= $133

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Which of the indicators listed would be considered performance measures for the innovation and learning perspective? a. Dollars
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Answer:

All options are correct.  

Explanation:

Innovation and Learning cannot solely be measured by training. Additionally the organization should make sure that the employees are productive. Organization should make sure that employees are satisfied with their jobs in order to retain them in the organization.

The performance measure are listed below.

  • Employee turnover rate.
  • Percentage of positions filled with internal applicants.
  • No. of employees having professional certification.
  • Employee satisfaction.
  • No. of suggestions produced by employees.
  • Training hours per employee.
  • Training dollars spent per employee.
  • Technology being spent per employee.
  • Revenue and income per employee.
4 0
4 years ago
ou have just bought a used track-type tractor to add to your production fleet. The initial capitalized value of the tractor is $
Vesnalui [34]

Answer: $32,667

Explanation:

The truck's useful life is 3 years because it is 2007 to 2010.

Depreciation = (Cost - Salvage value) / Useful life

= (110,000 - 12,000) / 3

= $32,667 per year

6 0
3 years ago
Suppose three engineers come to you with a plan for a disruptive, yet-to-be developed software program that seems compelling. Th
Vitek1552 [10]

Answer:

Explanation:

The Proposed bargain or deal is supportive of the business visionaries instead of the financial backer(investor) since all the capital is coming from the financial backer and the investor will be receiving just only 25% for the bargain or deal while he faces all the challenges posed or loss of capital. The business visionaries are not placing in any of their own personal capital but only their idea. They likewise have a bigger say in the administration of the business and the financial backer has no power over the choice since he conveys just 25% votes. Consequently, it's not a good bargain or deal for the financial backer considering the risk-reward ratio.

The counter-offer will include raising a proposed equity percent rate to half  (i.e 50%). In addition to that, the financial backer needs to demand another seat on the board with the goal that they have equivalent authority over the administration and its choices. The most reduced the financial backer can go down is equity of 40% stake.

8 0
3 years ago
The per-unit standards for direct labor are 1.5 direct labor hours at $15 per hour. If in producing 3600 units, the actual direc
Vera_Pavlovna [14]

Answer:

See below

Explanation:

Given the above information, the total direct labor variance is computed as;

Total direct labor variance = Standard cost - Actual cost

Standard cost = 3,600 units × 1.5 × $15 = $81,000

Actual cost = $74,400

Total direct labor variance = $81,000 - $74,400

Total direct labor variance = $6,600 Favourable

5 0
3 years ago
Byrde Company purchased a truck. The seller asked for $11,000, but Byrde paid only $10,000 after negotiation. The owner of Byrde
Leya [2.2K]

Answer:

Byrde Company

The amount that Byrde should record on its financial statements for the truck is:

= $10,000.

Explanation:

a) Data and Calculations:

Seller's asking price = $11,000

Amount paid after negotiation = $10,000

Fair price for the truck = $15,000

b) The amount to be recognized or recorded by Byrde on its financial statements for the truck is the cost price, that is, the amount that Byrde paid actually for the truck. The fair price cannot be recognized, since GAAP does not allow for noncurrent assets to be recognized at their fair prices. The historical cost is objective and verifiable, unlike the $15,000 fair price or the seller's asking price.

5 0
3 years ago
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