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marysya [2.9K]
3 years ago
12

Harper Company lends Hewell Company $40,000 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financ

ial statements on March 31. What adjusting entry should be made before the financial statements can be prepared? A. Cash 200Interest Revenue 200B. Interest Receivable 800Interest Revenue 800C. Interest Receivable 200Interest Revenue 200D. Note Receivable 40,000Cash 40,000
Business
1 answer:
ryzh [129]3 years ago
8 0

Answer:

C. Interest Receivable 200Interest Revenue 200

Explanation:

It will need to adjust for the interest accrued during the month

the 6% is an annual rate, we will convert to a monthly rate by dividing by the 12 month of the year:

6% = 6/100 0 0.06 annual rate

0.06/12 = 0.005 = 0.5% monthly rate

Now we calcualte the interest

40,000 x 0.5% = 200

The company is not receiving this interest. It is just delcaring that has been accrued and generate an earning for the period, but it won't be collected until maturity.

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Rebotar Inc, makes basketballs. Their fixed costs are $3450 Variable costs are $12 per basketball, If the basketball is priced a
worty [1.4K]

Answer:

Break-even points = 265.38

Explanation:

Given:

Fixed cost = $3,450

Variable costs = $12

Selling price = $25

Number of balls sold = 300

Find:

Break even costs

Computation:

Contribution per unit = Sales - Variable costs

Contribution per unit = $25- $12

Contribution per unit = $13

Break-even points = Fixed cost / Contribution per unit

Break-even points = $3,450 /$13

Break-even points = 265.38

6 0
3 years ago
"A high-ranking officer of ABC Corporation owns 10,000 shares of ABC Corporation control stock that she wishes to sell under the
LuckyWell [14K]

Answer: $9,000

Explanation:

Rule 144 is a regulation that governs the trading of restricted, unregistered, and control securities and is enforceable by the SEC.

Under the rule, the person, as an officer of the ABC Corporation is limited to selling the higher of 1% of the Outstanding stock the company has or the average weekly trading volume over the preceding 4 weeks.

1% of the outstanding 900,000 shares is;

= 1% * 900,000

= 9,000 shares

This is higher than the average weekly trading volume over the preceding 4 weeks so this is the maximum permitted sales figure.

3 0
4 years ago
Mae Company sells its product for $12 per unit and has variable costs of $8 per unit. Total fixed costs are $60,000. Suppose var
alexdok [17]

Answer:

Effect : Increase in Break Even units by 3,750 units to 18,750 units

Explanation:

Break even point is the level of activity at which a firm makes neither a profit nor a loss

Break even Point (Units) = Fixed Costs ÷ Contribution per unit

where,

Contribution per unit = Selling price per unit - Variable Costs per unit

                                    = $12 - $8

                                     = $4

Therefore,

<u>Before Increase</u>

Break even Point (Units) = $60,000 ÷ $4 = 15,000

<u>After Increase</u>

New Contribution = $12 - ($8× 1.10)

                              = $3.20

Therefore,

Break even Point (Units) = $60,000 ÷ $3.20 = 18,750

4 0
3 years ago
In outbound telemarketing, the call center employees ________.
Effectus [21]

Answer:

The answer would be D

Explanation:

Outbound Marketing is known as the “old way of doing things, including the use of billboards, television ads, telemarketing, sales staff, direct mail, radio shows, print advertisements. It is not a completely irrelevant marketing strategy, but it depends on what type of business.

New digital ads from friendly social networks are appearing. You will know what I mean when I remind you of all the annoying advertisements that get in the way of reading or seeing what you want online. If you are ignoring them by clicking and closing the window, this is how others do too.

However, many small businesses cannot pay billboards and television reports. However, they can pay for a magazine ad only once in a local publication or a direct mail piece. The latter are very ineffective and are mostly not read and thrown in the trash, since about 44% of all direct mail and publications are thrown away.

As a result of these small outbound marketing strategies they are more accessible and end up costing you more in the short term and with nothing to show. Keep in mind that this type of marketing requires repeated connections.

7 0
3 years ago
The exchange rate between the Australian dollar and the Indian rupee is determined in a flexible foreign exchange market.
nataly862011 [7]

Answer and Explanation:

a. For eliminating the recession government should take an expansionary fiscal policy like tax reduction or rise in government spending etc

b. The impact of the fiscal policy would be result in high borrowing by the government due to which there is rise in the rate of interest

c. The graph is shown in the attachment

d. It shows the depreciation of the dollar due to which the exports are increased and it become cheaper for the foreigners

e. In the case when the production rises so there is a decline in the unemployment that result in high exports

6 0
3 years ago
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