The financial document that Philippa has already prepared is the cost of goods manufactured schedule.
<h3>What is a financial document?</h3>
It should be noted that a financial document simply means a document that's necessary in an organization to carry out transactions.
In this case, since Philippa is getting ready to start preparing the income statement for General Graders, the financial document that Philippa has already prepared is the cost of goods manufactured schedule.
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Answer:
c. A new technology such as the Internet has just been introduced, and it increases investment opportunities.
Explanation:
Nominal interest rate is the sum of real interest rate and expected inflation rate.
If expected inflation rate falls, the nominal interest rate also falls.
During a recession, people are more unwilling to borrow funds ,this pushes interest rate down.
If investment opportunities increases, the demand for funds would increase and nominal interest rate would increase too.
I hope my answer helps you
Answer:
$399,000
Explanation:
We need to understand that deductible is a portion of a loss that is covered in the policy but must be paid by the insurance purchaser, these terms stated in the insurance contract.
Here, the actual value of the business personal property at the time of this report was $400,000. (Only the actual value is covered)
Deductible is = $1,000
Acme's insurer will pay an amount of $399,000 ($400,000 - $1,000) for the described loss.
Answer:
Beranek Corp. should borrow $288,000 to achieve the target debt ratio.
Explanation:
40% of debt-to-asset ratio means that 40% of the assets should be Financed with debt and the remaining with equity. We have $720,000 worth of assets, simply multiply it with 40% and you will get the amount the needs to be borrowed.
If you have any queries about double entries of all this scenario, do leave a comment, I'll be pleased to help you.
Thank you!
Answer:
correct option is D) Recognize interest revenue.
Explanation:
- Interest income is the income that a company receives from any investment or on its own debt and every penny taken on a logistic investment or loan is believed to pay some interest. Items sent to the buyer usually become debt that needs to be added without wires.
- so due to the position in the contract that the payment will be made four months later, the concept of time value of money is the basis of the interest income formula.
- Time value of money is a basic economic concept that involves the present money rather than the future money. This is true because the money you have at the moment can be invested and earned so that you can make a large amount of money in the future.
- If a party is asked to forfeit the time value of money in a business transaction, it must be compensated, hence the interest revenue.
