1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
antiseptic1488 [7]
3 years ago
14

Majesty Productions accepted a $7,200, 120-day, 6% note from Swartz Studio on March 1. On the date the note matures, Swartz is u

nable to pay, but Majesty intends to continue collection efforts. What entry should Majesty record on the maturity date for this dishonored note?

Business
2 answers:
vlabodo [156]3 years ago
4 0

Answer:

Check the explanation

Explanation:

The accounting entry (which is an official record/book that documents a transaction of the day to day activities of a business. In most cases, an entry is prepared through the principles of the double entry bookkeeping system, which involves one to create both a debit and credit entry, and which ultimately leads to the creation of a comprehensive set of financial statements.) for Majesty record on the maturity date for this dishonored note is in the attached image below:

stepladder [879]3 years ago
4 0

Answer:

Debit Accounts Receivable $7,344

Credit Interest Revenue $144

Credit Notes Receivable $7,200

Explanation:

Majesty Production

Interest: $7,200 × .06 × 120/360 = $144

Therefore the entry that Majesty should record on the maturity date for this dishonored note are below:

Debit Accounts Receivable $7,344

Credit Interest Revenue $144

Credit Notes Receivable $7,200.

You might be interested in
Journalize the following transactions for Combs Company.
Anarel [89]

Answer: See explanation

Explanation:

a. Debit: Raw material $12000

Credit: Account payable $11500

Credit: Material price variance $500

(To record material purchase)

b. Debit: Work in process 11600

Credit: Raw material 11200

Credit: Material price variance 400

(To record material issued)

Note:

Material price variance for (a)= 12000 - 11500 = 500

Work in progress = 5800 × 2 = 11600

Material price variance for (b) = 11600 - 11200 = 400

5 0
3 years ago
if an internal audit reveals issues, it is time to do some interviews and document reviews. how many people should be involved i
r-ruslan [8.4K]

'If an internal audit reveals issues, it is time to do some interviews and document reviews. 2 the attorney many people should be involved in the interview process of an employee.

An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for your work by your employer (the person or company that pays your salary).

An employer is an individual, firm, or organization that employs people and pays them wages for their work. A person who works and gets paid is called an employee. Employers provide employment.

An example of an employee is a store clerk. Employees are required to perform specific tasks such as: B. An employee is considered an employee if they wear a name tag and greet customers with certain expressions.

Learn more about employee brainly.com/question/27953070

#SPJ4

6 0
1 year ago
Adams Company sells a product whose contribution margin is $10 and selling price is $25.
Karolina [17]

Answer:

answer is b) False

Explanation:

given data

contribution margin = $10

selling price = $25

total fixed costs = $500

break-even point  = 100 units

solution

we get here Break even point that is

Break even point = \frac{fix\ cost}{contribution\ margin}   ...........1

Break even point = \frac{500}{10}

Break even point = 50 units

but we have given break-even point is 100 units

so answer is b) False

6 0
3 years ago
Review each of the investment opportunities provided by Earll Investments and Pima Financial Trading. In at least two to three p
irga5000 [103]

Answer:

Investment Opportunity 1 has a few risks.Though it invests in stocks, it makes consistent profits. It lacks volatility because managers carefully select stocks with long-term earning potential. Investment Opportunity 2 risks are related to changing interest rates, which can cause bonds to make less money for bondholders. Also, it may be affected by inflation, and it carries the risk of default: if a city or county government fails to make its bond payments, then the bondholder loses money. Both companies tell you the risks, and they have the same level of it. Investment Opportunity 1 has three documents to illustrate the fund’s risks and returns over the past five years.The first graph lists how a hypothetical investment of $10,000 fared over those five years. The second graph lists an overall earnings percentage for four different earnings periods. The final graphic shows how the company rates the level of risk. Investment Opportunity 2 also provided three documents to illustrate the fund’s risks and returns over the past five years. The first graph lists how a hypothetical investment of $10,000 fared over those five years. The second graph lists an overall earnings percentage for four different earnings periods. The final graphic shows how the company rates the level of risk. Both say the potential returns of each investment, but investment opportunity 1 hypothetical investment of $10,000 fared over those five years is not as steady as investment opportunity 2. Investment Opportunity 2 is the fraudulent one because its percentage of return is better than investment opportunity 1. Both are with large companies that are almost just alike but investment opportunity 2 has a better rates of return. The first one serves thousands of customers and specializes in managing stocks and mutual funds. The second firm serves thousands of customers, and it specializes in managing mutual funds that invest in bonds.

Explanation: Hope this helps this is what I used for <u>Edge 2020</u> ^-^. Also I do not take credit for this answer, but I feel like this is a very well and detailed answer.

7 0
2 years ago
What is the final step for creating a chart in PowerPoint?
Sergio [31]

Answer:

step 1: click instead> Chart

step 2: click th3 chart type and then double click th3 chart you want.

step 3: in th3 worksheet that appears, replace the placeholder data with your own information.

step 4: when you insert a chart, small buttons appear next to the upper right corner.

step 5: when finished, close th3 worksheet

8 0
2 years ago
Other questions:
  • Ski trips and ski jackets are complements. the cross elasticity of demand for ski trips with respect to the price of a ski jacke
    15·1 answer
  • During an annual review Mitchel made the following assertion: "When I look at myself and my performance I see that what I have a
    13·2 answers
  • In today's decentralized business world, ________ the most important strategic decisions.
    14·1 answer
  • You have a chance to buy an annuity that pays $2,500 at the end of each year for 3 years. You could earn 5.5% on your money in o
    10·1 answer
  • A bond with a face value of $100,000 was issued for $93,500 on January 1 of this year. The stated rate of interest was 8 percent
    9·1 answer
  • Suppose that the state of Massachusetts enacts a law that forbids Mexico and businesses located in that country from doing busin
    13·1 answer
  • In the circular flow of funds, what is the role of banks?
    10·1 answer
  • Wildhorse Co. entered into these transactions during May 2022, its first month of operations.
    12·1 answer
  • Executive headhunters have approached Charles about taking the position of senior vice president of marketing for a well-known c
    15·1 answer
  • Tobin inherited 100 acres of land on the death of his father this year. A Federal estate tax return was filed and the land was v
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!