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soldi70 [24.7K]
2 years ago
8

Bill Darby started Darby Company on January 1, 2018. The company experienced the following events during its first year of opera

tion: Earned $16,200 of cash revenue. Borrowed $12,000 cash from the bank. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, 2018, had a one-year term and an 8 percent annual interest rate. Required What is the amount of interest expense to record for 2018
Business
1 answer:
asambeis [7]2 years ago
3 0

Answer:

$320

Explanation:

Data provided

Cash from bank = $12,000

Annual interest rate = 8%

The computation of amount of interest expense to record for 2018 is shown below:-

Outstanding month from 1 September to 31 December = 4 months

Interest expense = Cash from bank × Annual interest rate × Outstanding month ÷ total number of months in a year

= $12,000 × 8% × 4 ÷ 12

= $320

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In his 1935 book, Harold Laswell described politics as "Who Gets What When How." The American concept of pluralism, or group pol
KatRina [158]

Answer:

D) influencing decisions affecting one's life.

Explanation:

Pluralism is an American theory of governance that states that political power is controlled by several groups of people and not the citizens as a whole. These several groups of people constitute organizations, activists, environmentalists, and other impactful groups who seek recognition and acceptance from the populace and who make decisions that affect the citizens. One attribute of Pluralism is the fact that no single elite or groups of elites control decision making in governance.

The groups of people have powers that are limited in scope and regulated by competition with other groups. Moreso, these groups seek approval from the populace and that is why opinion polls, surveys, elections, etc., are carried out in order to ascertain which entities are more popular with the people.

4 0
3 years ago
After graduation from college, you will receive a substantial increase in your income from a new job. If you decide that you wil
Taya2010 [7]

Answer:

c. inferior good.

Explanation:

Inferior goods are items purchased buy a consumer as a result of his limited income such that when that consumer's purchasing power increases, he purchases other commodities in place of the one initially purchased.

Hence the  purchase more T-bone steak and less hamburger is an indication that hamburger is an inferior good to the consumer.

7 0
3 years ago
The sales budget for Modesto Corp. shows that 21,900 units of Product A and 23,900 units of Product B are going to be sold for p
rewona [7]

Answer:

22,290 units

Explanation:

Product A sales (S) = 21,900 units

Product A selling price = $11.90

Product A beggining inventory (I)= 3,900

Product A ending inventory (E) = 3,900 x 1.10 = 4,290

Budgeted purchases of product A must account for all of the projected sales and the desired ending inventory, assuming that the company already has a beginning inventory at hand. Budgeted Purchases of product A are given by:

B = S+E-I\\B= 21,900+4,290-3,900\\B= 22,290\ units

6 0
3 years ago
Abel Corporation uses activity-based costing. The company makes two products: Product A and Product B. The annual production and
Snezhnost [94]

Answer:

depreciable amor 10.95 dollars per Activity 2 base cost object.

Explanation:

\frac{Activity\: Pool}{Activity \: base}= Activity\:Rate

totoal expected cst: 35,040

activity 2 expected cost dirver Total  3,200

Activity rate: $35,040 cost pool / 3,200 driver expected amount = $10.95

7 0
3 years ago
IRR in Excel!(CHAPTER 9) Your company is considering a new project opportunity. It would immediately receive $200. In return, in
oksian1 [2.3K]

Answer:

12.44%

Explanation:

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

cash floe in yer0 = 200

cash flow in year 1 = -80

cash flow in year 2 = - 70

cash flow in year 2 = - 60

cash flow in year 2 = - 40

irr = 12.44%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

3 0
3 years ago
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