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Delicious77 [7]
3 years ago
14

Barton Chocolates used a promissory note to borrow $1,000,000 on July 1, 2018, at an annual interest rate of 6 percent. The note

is to be repaid in yearly installments of $200,000, plus accrued interest, on June 30 of every year until the note is paid in full (on June 30, 2023). Show how the results of this transaction would be reported in a classified balance sheet prepared as of December 31, 2018. (Do not round intermediate calculations.)
Business
1 answer:
iragen [17]3 years ago
7 0

Answer:

Explanation:

Balance sheet for Barton Chocolates as at December 31,2018

Current liabilities                                  230,000

Non current liabilities                           800,000

<u>Workings.</u>

Loan - $1,000,000

Loan date = July 1

Reporting date = December 31

Timeline = 6 months / 1/2 years

Yearly installment = $200,000

Interest payable = 6/100*1000000*1/2 = 30,000

Current liabilities are liabilities that are due for settlement within a year

Therefore the current liability portion = $200000+30000= $230,000

The non current liability is the balance of the principal loan amount = 1000000=200000= 800000

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A firm that uses a ________ strategy relies on economic theory and a mathematical model to capture all the factors required to e
Molodets [167]

Answer:

Profit

Explanation:

Profit strategy is an approach used by organizations to maximise profits through any possible method. This strategy involves setting different prices on the product to ensure that the company makes profit on each sale of the product in the market.

The various steps to be taken inorder to maximise profits in a business include:

- Removal of different products and services that do not add a significant amount of profit to the organisation

- Finding new potential customers.

- Restructuring the current price structure.

5 0
3 years ago
Read 2 more answers
Suppose a hotel has annual fixed costs applicable to its rooms of $2,000,000 for its 300-room hotel. Average daily room rents ar
tia_tia [17]

Answer:

Explanation:

In order to calculate the operating income for one year we would have to make the following calculation:

operating income=revenue-variable costs-fixed costs

revenue=300*$50*365=$5,475,000

variable costs=300*$10*365=$1,095,000

fixed costs=$2,000,000

Therefore, operating income=$5,475,000-$1,095,000-$2,000,000

operating income=$2,380,000

The operating income for one year is $2,380,000

7 0
3 years ago
Suppose that market demand is Q = 660 – 12P and marginal cost is MC = 5. The consumer surplus in a perfectly competitive market
Ad libitum [116K]

Answer: 15000; 3750

Explanation:

From the question,

Q = 660 – 12P

MC = 5

The consumer surplus in a perfectly competitive market will be:

P = MC

Therefore, P = 5

Q = 660 - 12P = 660 - 12(5) = 660 - 60 = 600

Consumer surplus = 1/2 × (55 - 5) (600)

= 1/2 × 50 × 600

= 15,000

For monopoly, MR = MC

Total Revenue = P × Q

Since Q= 660 - 12P

P = (660 - Q)/12

TR = P × Q

= (660 - Q)/12 × Q

= (660Q- Q²)/12 × Q

MR = (660 - 2Q)/12

MR = MC

(660 - 2Q)/12 = 5

(660 - 2Q) = 5 × 12

660 - 2Q = 60

2Q = 660 - 60

2Q = 600

Q = 600/2

Q= 300

Since P =(660 - Q)/12

= (660 - 300)/12

= 360/12

= 30

Consumer surplus = 1/2 × (55 - 30) (30)

= 1/2 × 25 × 300

= 3750

Therefore, the answer is 15000; 3750

7 0
3 years ago
when calculating net price, why do you think loans are not deducted from sticker price even if they are typically offered to you
storchak [24]

The reason loans are not deducted from sticker price even if they are typically offered to you in a financial aid package is that "the net price is actual money that you or any individual will be paying."

This is evident because a net price is the sticker price minus the student's financial aid, scholarships, grants, and other support.

Unlike sticker price, the net price is the college student's amount would eventually pay in his college years.

A sticker price is the whole amount of the annual or session cost of a college education.

Hence, in this case, it is concluded that college students should concentrate more on the net price instead of a sticker price.

Learn more here: brainly.com/question/20635459

3 0
3 years ago
A group of researchers wanted to determine if people will eat more food in a room with red paint and red decorations than in a r
GREYUIT [131]

I guess the correct answer is the color of the decorations in the room

A group of researchers wanted to determine if people will eat more food in a room with red paint and red decorations than in a room that is decorated blue. Half the participants in this study ate in a red room and half ate in a blue room. The researchers then measured how much food was consumed in each of the two rooms. In this study, the independent variable was  the color of the decorations in the room.

3 0
3 years ago
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