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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

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A comparable property sold 3 months ago for $162,000. The market shows appropriate adjustments to be: Market conditions adjustme
lozanna [386]

Answer:

+$3,500

Explanation:

The net adjustment is the sum of the indicated adjustments that have to be made to a comparable property to get the final adjusted price.

In this question, Net adjustment = Market conditions adjustment +Location adjustment + Quality Adjustment

Net adjustment = +$8,500 + $5,000 + (-$10,000)

Net adjustment = +$13,500 - $10,000 = +$3,500

The final adjusted price will be $165,500 ($162,000 + $3,500)

5 0
3 years ago
Which of the following statements is NOT true? America's economy is becoming much less American. Markets are shifting slowly and
valentinak56 [21]

Answer:

<h2>The first statement in the answer choices or options given in the question is NOT true in this case or America's economy is becoming much less American.</h2>

Explanation:

  • In this instance, the first statement given in the answer choices or America's economy is becoming much less American seems untrue or rather meaningless or baseless statement.
  • First,saying that American economy is becoming less American doesn't apparently make any logical sense as American economy refers to a particular country's economy which is America. Furthermore, American economy is not any official theoretical classification or a type of economy such as a market economy,capitalist economy,mixed economy,socialist economy and so on.
  • Even if some people might refer to American economy as a predominantly capitalistic economic structure,the given statement appears to be untrue as there is no logical or practical evidence to suggest that the American economy is indeed becoming less capitalistic or market oriented.
4 0
3 years ago
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders’ equity f
DerKrebs [107]

Answer:

Additional paid in capital $294,750

Retained earning = $315,000

Explanation:

Given data:

Additional paid in capital

for Atkins = 112,500

for waterson = 15,500

Retained Earning

For Atkins  = 315,000

For waterson = 148,200

News shares issued 60,750

Price per share $3

Additional paid in capital will be

= 112,500 + ( 60,750 \times 3)

= 294,750

Retained earning = 315,000

5 0
4 years ago
Which of the following total cost functions suggests the presence of a natural​ monopoly?
monitta

Answer: B. TC​ = 50​ + 20Q

Explanation:

A Natural Monopoly is generally associated with a firm that has very high initial fixed costs. These costs are generally related to the use of high scale technology or machinery to operate effectively.

Some examples include, gas pipelines, electricity grids, and the like.

They act as both a deterrent for companies to join the market as well as to exit.

Option B shows the typical Total Cost function of a Natural Monopoly and reflects the high initial costs as well.

8 0
3 years ago
g Suppose you deposit $1,091.00 into an account 6.00 years from today that earns 12.00%. It will be worth $1,728.00 _____ years
Usimov [2.4K]

Solution :

Initial amount is : $1091 .

Rate, r = 0.12 .

Let, amount will be $1728 in t years.

So,

1728 = 1091( 1 + 0.12t )\\\\1 + 0.12t = \dfrac{1728}{1091}\\\\1 + 0.12t = 1.58\\\\0.12t = 0.58\\\\t = \dfrac{0.58}{0.12}\\\\t = 4.8\ years\\

Hence, this is the required solution.

3 0
3 years ago
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