1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pav-90 [236]
3 years ago
10

On November 1, Jasper Company loaned another company $100,000 at a 6.0% interest rate. The note receivable plus interest will no

t be collected until March 1 of the following year. The company's annual accounting period ends on December 31, and adjustments are only made at year-end. The adjusting entry needed on December 31 is:
Business
1 answer:
allochka39001 [22]3 years ago
5 0

Answer:

Explanation:

The journal entry is shown below:

Interest receivable A/c Dr $1,000

                     To Interest revenue A/c $1,000

(Being accrued interest is recorded)

The computation of accrued interest is presented below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $100,000 × 6% × (2 months ÷ 12 months)

= $1,000

The 2 months is calculated from November 1 to December 31

You might be interested in
 Before setting your prices, it's wise to 
natulia [17]

Answer:

<em>Before setting your prices, it's wise to research industry standards- B.</em>

5 0
3 years ago
3. Once you turn 18, you should regularly check your credit report...
Mazyrski [523]

Answer:

A - For errors or signs of identity fraud

Explanation:

That is the correct answer, good luck, and have a good day.

7 0
2 years ago
Sheldon just joined a new gym and signed up for a one-year membership. Membership fees can be paid in 12 monthly payments of $60
mestny [16]

Answer: $688.17

Explanation:

He has to pay $60 every month on the first day or a lump sum.

The lump sum will be the present value of monthly payments.

This is a stable Cashflow and so is an Annuity and because it is done on the first day of the month it is an Annuity due.

Calculating present value of annuity due is;

= Annuity + Annuity (( 1 - ( 1 + r) ^ -(n - 1)) / r)

= 60 + 60 (( 1 - ( 1 + 0.833%)-¹¹) / 0.833%) )

=60 + 60* 10.4695

= $688.17

Note: interest rate must be divided into 12 to make it monthly rate.

=10%/12

= 0.833%

4 0
3 years ago
Assume that the Candyland economy produced approximately 150 candy bars, 80 bags of caramels, and 30 solid chocolate bunnies. If
Paha777 [63]

Answer:

A. 300

Explanation:

Market value is simply the market capitalization of a publicly traded company. Formula for calculating,

Market Value = no. of produced goods × average price.

Given that

No. of chocolate solid bunnies produced = 30

Average price of chocolate solid bunnies = $10

Therefore,

Market value = 30 × 10

= $300.

5 0
4 years ago
When Angela wanted to provide financial security for her dependents, she considered purchasing a product that would provide inco
zavuch27 [327]

Answer:

C. Life insurance company

Explanation:

  • Life insurance is an insurance company that deals with a product that provides reinsurance in the event of the untimely death of the insured.
  • There are also products that offer a savings / investment portion that saves insurance space for their future or for a specific period.

so correct option is C. Life insurance company

4 0
3 years ago
Other questions:
  • Boston Company purchased equipment by signing a noninterest-bearing note with a face value of $64,800. The list price of the equ
    9·1 answer
  • A contract clause which specifies the amount of damages to be paid in the event of a breach is called:
    11·1 answer
  • When the auditors express an opinion on financial statements their responsibilities extend to:
    10·1 answer
  • Assume the spot rate of the British pound is $1.73. The expected spot rate 1 year from now is assumed to be $1.66. What percenta
    9·1 answer
  • Deep Mines has 43,800 shares of common stock outstanding with a beta of 1.54 and a market price of $51 a share. There are 10,000
    9·1 answer
  • Feinstein, Inc., an appliance manufacturer, is developing a new line of ovens that uses controlled-laser technology. The researc
    14·1 answer
  • What role does savings play in the process of economic growth
    7·1 answer
  • The Material Safety Data Sheet provides inventory quantity and availability information that is updated on a continuous basis as
    13·1 answer
  • Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash p
    14·1 answer
  • Which of the following methods may be used to report comprehensive income? (Select all that apply.) Check All That Apply In a si
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!