Answer:
The interest expense is $521
Explanation:
The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:
interest expense=days in the month/360days*interest rate*loan amount
interest expense=31/360*10%*$60,500=$ 521
The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521
Answer:
The offeror may retract the offer at any time prior to acceptance.
Most likely the offeror was able to get a better deal somewhere else, which allows the offeror to retract the offer. However, if they had already made a deal, the offeror would have broken the deal, which may result in action.
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Answer:
The cash balance on November 30 amounts to $155,700
Explanation:
Cash balance on November 30 = Beginning balance + Collection of cash from October sales + Collection of cash from November sales - Payments for October Purchases - Payments for November Purchases
where
Beginning balance is $13,700
Collection of cash from October sales = October Sales × % amount collected
= $240,000 × 70%
= $168,000
Collection of cash from November sales = November Sales × % amount collected
= $240,000 × 1.20 × 25%
= $72,000
Payments for October Purchases = October Purchases × % amount paid
= $70,000 × 65%
= $45,500
Payments for November Purchases = November Purchases × % amount paid
= $150,000 × 35%
= $52,500
Putting the values in the above formula
Cash balance on November 30 = $13,700 + $168,000 + $72,000 - $45,500 - $52,500
= $155,700
<h2>The given statement is true.</h2>
Explanation:
Let us understand the term, "Global Company".
Any company which is known for its business world-wide is termed as "Global company".
The given statement in the question is true. Yes a global company can achieve everything listed.
Since the company is efficient, they can start business all over the world.
Definitely the can span across the world, only by first satisfying the need of the nation.
Surely they will be known for innovation, because the 21st century needs innovation and a company can be popular only if it shows innovating ability.
All the given achievement is possible to get fulfilled.
Answer:
A.No entry is required
B.No entry is required
C.No entry is required
D.No entry is required
Explanation:
The Edward City Council
1. Record the journal entries for November 1, Year 1, if any.
No Entry Required
2. Record the journal entries for November 30, Year 1, if any.
No Entry Required
3. Record the journal entries for December 1, Year 1, if any.
No Entry Required
4. Record the journal entries for January 1, Year 2, if any.
No Entry Required