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Alina [70]
4 years ago
8

Consider a corrupt provincial government in which each housing inspector examines two newly built structures each week. All the

builders in the province are unethical and want to increase their profits by using substandard construction materials, but they can’t do that unless they can bribe a housing inspector into approving a substandard building.
1. If bribes cost $1,000 each, how much will a housing inspector make each year in bribes? (Assume that each inspector works 52 weeks a year and gets bribed for every house he inspects.)
Business
1 answer:
patriot [66]4 years ago
4 0

Answer:

$104,000

Explanation:

The computation is  shown below:

= Bribe cost per each housing inspector × number of weeks in a year × number of newly built structures each week

= $1,000 × 52 weeks × 2

= $104,000

We simply multiply the three components i.e Bribe cost per each housing inspector, number of weeks in a year, and the number of newly built structures each week so that the accurate value can come.

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Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W
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Answer:

<u>As at April 30</u>

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Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

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Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

<u>As at November 1</u>

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<u>As at December 31</u>

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

<u>As at April 30</u>

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

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