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Contact [7]
3 years ago
13

On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complain

ts. Legal services total $10,900. In payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell & Associates on September 1.
Required:

For Terrell & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1.
Business
1 answer:
zzz [600]3 years ago
6 0

Answer:

March 1

Dr Notes Receivable $10,900

Cr Service Revenue $10,900

September 1

Dr Cash $11,390

Cr Notes Receivable $ 10,900

Cr Interest Revenue $490

Explanation:

March 1

Dr Notes Receivable $10,900

Cr Service Revenue $10,900

(Provide legal services and accept note)

September 1

Dr Cash $11,390

Cr Notes Receivable $ 10,900

Cr Interest Revenue $490

(Receive cash on note receivable and interest)

(Interest revenue = $10,900 x 9% x 6/12) =490.5

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Chang Industries has 2,500 defective units of product that have already cost $14.50 each to produce. A salvage company will purc
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Answer:

$27,250

Explanation:

The computation of incremental income or loss on reworking the units is shown below:-

For computing the incremental income or loss on reworking the units first we need to follow some steps which is shown below:-

Incremental revenue per unit = Selling price after rework - Selling price as scrap

= $22.00 - $5.60

= $16.40

Total Incremental Revenue = Incremental revenue per unit × Total defective units

= $16.40 × 2,500

= $41,000

Total rework costs = Total defective units × Defects per unit

= 2,500 × $5.50

= $13,750

Now,

Incremental income or loss on reworking the units = Total Incremental Revenue - Total rework costs

= $41,000 - $13,750

= $27,250

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3 years ago
A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way t
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Answer: A) Prototype

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The first model shown to entrepenuers are called prototypes

proto- before

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3 years ago
Which of the following was the fourth leading cause of deaths in the construction industry in 2013? A. Being struck by something
jolli1 [7]
The fourth leading cause of deaths in the construction industry in 2013 was D. getting caught or between two objects.
Falling is the number one cause of deaths, followed by electrocution and being struct by something. Getting caught between objects is the fourth most common way to die when it comes to the construction industry - at least it was 4 years ago.
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Which estimating technique uses a statistical relationship to calculate cost or duration based on historical data and other proj
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Parametric estimation is a  techniques that uses a statistical relationship to calculate cost or duration based on historical data and other project parameters

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Parametric estimation models are used when:

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While the other options of this question is incorrect because:

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Also called top-down estimating, this is a technique that involves comparing previous projects, personal experiences and cursory cross-referencing observed costs to estimate time resources required. This technique is most useful in the absence of quantifiable data.

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