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Lady_Fox [76]
3 years ago
14

At December 31 of the current year, Cart Corporation has a $16,000 Notes Receivable from a customer. Interest of 5% has accrued

for 9 months on the note. What will be reported on the Balance Sheet?
Business
1 answer:
sattari [20]3 years ago
8 0

Answer:

Interest receivable $600

Explanation:

The interest is just for 9 months and the cash for the interest has not been received yet, so debit Interest Receivable.

Interest is calculated using the formula:

interest=Principal x rate x time

$16,000 x 5% x 9/12 = $600

Interest Revenue would be credited for $600, but that is reported on the Income Statement, not the Balance Sheet.

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A manager receives a forecast for next year. Demand is projected to be 590 units for the first half of the year and 940 units fo
BartSMP [9]

Answer:

74 units; 93 units

Explanation:

Given that,

Holding cost, H = $2 per unit

Carrying cost, O = $55

Demand in first half, D1 = 590 units

                                       = 590 ÷ 6

                                       = 98.33 per month

Demand in second half, D2 = 940 units

                                       = 940 ÷ 6

                                       = 156.67 per month

For D1; EOQ:

EOQ=\sqrt{\frac{2\times D\times O}{H} }

EOQ=\sqrt{\frac{2\times 98.33\times 55}{2} }

               = 73.54 or 74 units

For D2; EOQ:

EOQ=\sqrt{\frac{2\times D\times O}{H} }

EOQ=\sqrt{\frac{2\times 156.67\times 55}{2} }

               = 92.82 or 93 units

Hence, the appropriate order size will be 74 units and 93 units.

6 0
3 years ago
What are the three main goals of the government in its attempt to keep the economy running smoothly?
goldfiish [28.3K]
C. HIGH EMPLOYMENT, STEADY GROWTH, AND STABLE PRICES.
8 0
4 years ago
Read 2 more answers
During the deep recessions of the early 1980s and of 2007-2009, unemployment reached roughly __________.
RUDIKE [14]

when the nation went through a deep recession in the early 1980s and 2007-2009, the unemployment rate reached A. 10%.

<h3>what was the unemployment rate in 2007-2009?</h3>

after the disastrous Great Recession started in late 2007, companies were forced to terminate people's contracts to stay afloat.

this led to unemployment reaching levels of around 10% of the labor force. This had not been seen in the U.S. since the early 1980s.

options for this question include:

A. 10%. B. 20%. C. 30%. D. 40%.

find out more on the recession of 2008 at

#SPJ1

5 0
2 years ago
An association that Korean Americans are able to use to pool their money together and provide grants to subsidize the startup co
Free_Kalibri [48]

Answer:

KYES

Explanation:

KYES are clubs created by Korean Americans in which the members make a contribution and the money gathered is used to provide loans to start businesses. According to this, the answer is that an association that Korean Americans are able to use to pool their money together and provide grants to subsidize the startup costs of businesses are called KYES.

8 0
3 years ago
Question 25
telo118 [61]

Answer:

False

Explanation:

6 0
3 years ago
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