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
nika2105 [10]
3 years ago
7

Kassia Co.accepted a zero interest bearing note from a customer for total consideration of $300,000 to be paid in 3 years on Jan

uary 31, 2020. The going market interest rate was 5%, however, management determined this customer posed a slightly higher credit risk and figured their interest rate should be 7%.You are responsible for providing two separate journal entries: January 31, 2020, and December 31, 2020
Business
1 answer:
natima [27]3 years ago
7 0

Answer:

Check the explanation

Explanation:

The journal entry:

Date                             Particulars               Amount DR      Amount CR

31 Jan 2020                 Notes Acc Dr.        $300000  

                                To Customer                                       $30000

( Being Zero interest Notes

Accepting from customer.)  

31. Dec 2020        Customer A/cc Dr.         $19250

                                 To Interest acc                                    $19250

( Being Interest on notes 300000 at 7% 11 month.)  

                  Interest A/cc DR.                         $19250  

                                To Profit & Loss                                       $19250

( Being Transfer to Profit & loss Account)  

You might be interested in
Mark brainliest:/
galina1969 [7]

Answer:

B, reduced supply of labor, higher wages

Explanation:

Government laws have a minimum wage that has to be earned by the company to employ a person.

5 0
3 years ago
Read 2 more answers
GDP excludes the value of goods produced at home. many items are counted twice or more in the intermediate stages of production.
Softa [21]

Answer:

False

Explanation:

GDP or gross domestic product value is a measure of the total value of all products and services produced within the boundaries of a country in a given time. It factors all products, regardless of who manufactures them, whether foreigners or locals, men or women. To avoid double-counting, GDP considers finished products only.

In calculating GDP, economists will deduct the cost of imports. The reason is that imports are produced in foreign countries. The value of GDP indicates whether the economy is expanding or contracting. An increase in GDP shows economic growth in the country. An increase in capital goods, human capital, labor force, technology,  contribute to economic growth.

7 0
3 years ago
Households and firms with savings lend money to banks and other financial institutions. The credit supply curve shows the relati
rosijanka [135]

Answer:higher real interest rate discourages current consumption and higher real interest rate encourages more saving.

Explanation:The supply curve is a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period. In a typical illustration, the price will appear on the left vertical axis, while the quantity supplied will appear on the horizontal axis.

Our measure of credit demand is an indicator variable for a firm's need for bank loans decreasing during the period. We measure credit supply using information on whether a firm's loan application was rejected, or the firm received less than 75% of its desired amount.

Credit supply curve is a curve that plots the quantity of credit supplied at different real interest rates.

4 0
2 years ago
The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales $ 800,000 Net operating income $ 50,000 Averag
ELEN [110]

Answer:

ROI 87.5%

Explanation:

Return on Investment = return /investment

Total return

50,000 perating income + 20,000 residual income = 70,000 income

The asset could been adquire on lease or through liabilities, this is not investment. The investmetn made is the one done by the shareholders.

Stock Holders equity = investment = 80,000

The shareholders invest this amount to generate

70,000 dollars of return

ROI  70,000/80,000 = 87.5%

7 0
3 years ago
Your client has called for help with that bank fees in QuickBooks Online you began by asking them to open the bank and tab in th
viktelen [127]
This doesn’t make sense :(
3 0
3 years ago
Other questions:
  • Consider the case of Demed Inc.: Demed Inc. has 9% annual coupon bonds that are callable and have 18 years left until maturity.
    15·1 answer
  • Buckeye Corporation adopted dollar-value LIFO on January 1, 2021, when the inventory value was $514,000 and the cost index was 1
    10·1 answer
  • To find out how common domestic violence is in the general population, a questionnaire was sent out to a random sample of anonym
    11·1 answer
  • For apparel manufacturer Abercrombie & Fitch, Inc., classify each of the following costs as either a product cost or a perio
    11·1 answer
  • The Balance Sheet should be prepared a. before the income statement and after the statement of owner's equity. b. after the inco
    9·1 answer
  • What amount would a person with actual cash value (ACV) coverage receive for three-year-old furniture destroyed by a fire? The f
    9·1 answer
  • The CEO of a business firm wants to increase the productivity of the employees while minimizing the labor costs incurred by the
    6·1 answer
  • On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $40,000 in cash and giving a short-term n
    12·1 answer
  • What is the pricing strategies used to market the product​
    7·1 answer
  • Conservative Bank offers loans at various interest rates, depending on the nature of the loan. Jake wants to borrow $200,000 for
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!