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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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Mike is the director of human resources for a 120-employee family-owned manufacturing firm. Mike has been quite busy the last ye
nikitadnepr [17]

Answer:

Failing to match the communication medium (or channel) with the intended outcome.

Explanation:

Communication can be defined as the process of sending information. It involves sending of clear and concise messages from one person to another or from one group to another, messages could be represented in the form of signs or symbols.

Communication medium can be described as a means of transmitting information to the receiver. Some communication channels include:

1) Through the use of documents passed by series of reports and presentation.

2) Through the use of messages passed by emails and letters.

3) Through the use of images passed by graphical representation.

In the scenario above, Mike failed to use the right communication channel to inform the employees about their new benefit offering.

6 0
3 years ago
Over a certain period, large-company stocks had an average return of 12.59 percent, the average risk-free rate was 2.58 percent,
suter [353]

Answer:

The answer is 14.87%

Explanation:

Solution

Given that:

A large company stock had an average return of =12.59%

The average risk free rate = 2.58%

A small company stocks average is =17.45

The next step is to find the risk premium on small-company stocks for this period

Thus,

The risk premium on small-company stocks = Average return on small-company stocks - average risk-free rate

So,

Risk premium on small-company stocks = .1745 - 0.258

=0.1487

Therefore the risk premium on small company stocks for the period was 14.87%

6 0
3 years ago
Which one of these is NOT collaboration?
Mazyrski [523]

Of all the items relating to collaboration, Independent practice is the odd one out as it is not one of the methods of collaboration.

See the explanation bellow

<h3>What is collaboration?</h3>

In simple terms, collaboration is a way of working with one or more persons on a project or a task, in essence, it reflects team work and team spirit encourages efficiency and good work output.

When a team consists of team members who collaborate effectively, one member can cover up for the shortcoming or the other.

Learn more about the collaboration here:

brainly.com/question/24345164

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7 0
1 year ago
describe the two eligibility requirements to qualify for deducting losses generated from real estate activities.
Zolol [24]

Two exceptions to the special passive activity rule for real estate activities provide the whole or partial offset of real estate rental losses against active or portfolio income, even when the business is otherwise regarded as a passive activity.

<h3>Which rules regarding passive activities for rental revenue are exceptions?</h3>
  • You have a stake in the yearly commerce or economic activities.
  • During the current tax year or at least 2 of the 5 tax years prior, the rental property was utilized primarily in that trade or company.
<h3>Only real estate is subject to passive loss restrictions, right?</h3>

Generally speaking, the following actions can result in passive losses (and income): leasing of equipment. Rental property (though there are some exceptions) a farm or a sole proprietorship in which the taxpayer has no substantial interest.

<h3>How can passive income be balanced?</h3>

Selling off your rental properties will help you make up for your passive losses. You don't actually have to sell the property that's causing the losses to balance them effectively. Any passive income will be offset by losses.

Learn more about special passive activity rule: brainly.com/question/28137310

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7 0
11 months ago
Felton Co. sells major household appliance service contracts for cash. The service contracts are for a 1-year, 2-year, or 3-year
tia_tia [17]

Answer:

Unearned Service Contracts Revenue = $330,000

Explanation:

Unearned Service Contracts Revenue refers to the expected revenue from a contracts been carried and has yet been paid.

Unearned Service Contracts Revenue for 2010 = $100,000, for 2011 = $160,000 and for 2012 = $70,000

Unearned Service Contracts Revenue = $100,000 + $160,000 + $70,000

Unearned Service Contracts Revenue = $330,000

7 0
3 years ago
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