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
Oldhust Corp., an electronics company in the country of Bigmount, bought Specden Corp., an electronics company in the country of
uysha [10]

Answer: Direct foreign investment

Explanation:

The direct foreign investment is one of the investment process that helps in controlling the business ownership and in this the investment is basically create by one organization in some other country or location.

The economic development and the easy international trading are the main benefit of the direct foreign investment.

 According to the given scenario, the Oldhust corporation is one of the electronic company that basically bought the other electronic firm in the other country and this example is refers as the direct foreign investment.

 Therefore, Direct foreign investment is the correct answer.

8 0
3 years ago
In 2019, Carlos filed his 2018 state income tax return and paid taxes of $800. Also in 2019, Carlos's employer withheld state in
irga5000 [103]

Answer:

He can deduct on his 2019 federal income tax return for state income tax $1,550

Explanation:

According to the given data, we can conclude that Carlos cannot deduct the addition of $600 of state income until next year.

Therefore, in order to calculate how much state income tax can Carlos deduct on his 2019 federal income tax return for state income tax we would need to make the following calculation

income tax to deduct on 2019 federal income tax return= Taxes paid+ withheld state income tax from salary

income tax to deduct on 2019 federal income tax return= $800 + $750 income tax to deduct on 2019 federal income tax return=$1,550.

6 0
3 years ago
1976, the cost of a movie was $4. in 2012, it's $9. if the cpi for 1976 is 56, and 228 for 2012. how much is the cost of a 1976
ivann1987 [24]
$10.29 I'm not sure but hope I'm right
7 0
3 years ago
Shannon Company segments its income statement into its North and South Divisions. The company’s overall sales, contribution marg
a_sh-v [17]

Answer:

<u>North Division:</u>

Sales 154,000 12.8%

Variables Cost 101,640 8.44%

Contribution Margin 52,360 4.39%

<u>South Division:</u>

Sales 1,050,000 87.20%

Variables Cost 630,000 52.33%

Contribution Margin 420,000 34.84%

Total Contribution 472,360 39.23%

Fixed Cost 262,500 21.18%

Net Income 209,860 17.43%

Explanation:

First we do the income statements

then we add both sales figures together:

154,000 + 1,050,000 = 1,204,000

And add the percentajeof sales for each line

4 0
3 years ago
Which of the following is an individual characteristic of employees that improves individual mechanisms such as stress and motiv
otez555 [7]

Answer: C) Personality

Explanation:

Personality is an individuals quality that helps them succeed in life. If you improve your personality you can control stress and increase your motivation.

7 0
3 years ago
Other questions:
  • Knoll, inc. currently sells 15,000 units a month for $50 each, has variable costs of $20 per unit, and fixed costs of $300,000.
    6·1 answer
  • a. Inventory, Beginning 300 $ 12 For the year: b. Purchase, April 11 900 10 c. Purchase, June 1 800 13 d. Sale, May 1 (sold for
    15·1 answer
  • Identify the following as cash inflows or outflows to a privately-owned water company: well drilling, maintenance, water sales,
    13·1 answer
  • The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Feder
    8·1 answer
  • Bike St. Pete currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers: Direct
    13·1 answer
  • _______ believed that quality stemmed from "constancy of purpose," and that managers should stress teamwork,be helpful rather th
    6·1 answer
  • La-Z Days Motels, Inc., and Beds R Us Corporation enter into a contract that does not specify the payment terms. Payment may be
    11·1 answer
  • Mahmoud wants to start a business making designer chairs. To do this he will need:​
    14·1 answer
  • What is equilibrium in econ
    7·1 answer
  • indicators that the local currency is also the functional currency include all of the following except:
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!