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
soldi70 [24.7K]
3 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]3 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

You might be interested in
A 30-year zero coupon bond with a face value of $5,000 is currently selling for $1,156.88 and has a market rate of interest of 5
daser333 [38]

Answer:

Price will increase by $277.58

Explanation:

Market rate of Interest of a zero coupon bond can be determined by following formula

Market Rate of Interest = [ ( F / P )^(1/30) ] - 1

4.25% = [ ( $5000 / P )^(1/30) ] - 1

0.0425 + 1 = ( $5000 / P )^1/30

( 1.0425 )^30 = (( $5000 / P )^1/30)^30

3.4856 = $5000 / P

P = $5,000 / 3.4856

P = $1,434.46

Now Calculate the change in Price

Change in price = $1,434.46 - $1,156.88 = $277.58

Price will increase by $277.58

5 0
3 years ago
Should a firm change its positioning depending on the market? What are the potential advantages and disadvantages of doing this?
nasty-shy [4]

Answer:

In simple words, In comparison to competitors, market positioning refers to the capacity to impact customer perceptions of a brand or commodity. The purpose of market placement is to establish a brand's or product's image or character so that people view it with a certain aim in mind.

Effective sales promotion has the best characteristic of being able to provide a competitive edge. As a result, if a corporation can position its services as particularly important, competitors will believe it will be difficult to make a strong case for acquiring alternatives.

4 0
2 years ago
People need to have _____ in the economy to spend money.
katen-ka-za [31]
People need to have [Purchasing Power] in the economy to be able so spend money. Purchasing power means having the financial ability to spend money in buying goods and services.

5 0
3 years ago
Read 2 more answers
C. "Higher level professions require indepth knowledge, good skill, and In
Oxana [17]

Answer:

Motivation and enthusiasm. Your next employer is investing in you, so they need to see that you are enthusiastic about working and motivated in your career.

Explanation:

6 0
3 years ago
Arielle, a successful banker and educator, has decided to retire, but she is very interested in staying involved with a company
earnstyle [38]

Answer:

overall strategic goals and approval of major decisions.

Explanation:

A board of directors are people that are selected to make decisions that are beneficial to shareholders and to ensure that the management of the organisation acts in the best interest of shareholders.

Directors asses the performance of the management and make major decisions such as acquisitions, issuing of new shares, company liquidation, and dividend declaration.

So Arielle will be involved in approval of major decisions and attainment of business goals as a member of the board of directors.

3 0
3 years ago
Other questions:
  • The 2016 Form 10-K of Dow Chemical disclosed the following: Deferred tax assets increased by $939 million and deferred tax liabi
    11·1 answer
  • A __ agrees to help an immagrant become a citizen
    12·1 answer
  • Vaughan Services hires a new accountant to maintain its petty cash fund. Although the employee possesses an accounting​ degree,
    6·1 answer
  • What can the government of a relatively poor country do to promote economic prosperity? check all that apply. encourage transmis
    12·2 answers
  • Based on the following​ information, what is the balance on the current​ account? Exports of goods and services​ = $12 billion I
    8·2 answers
  • Why are the bands in this region of limited use in structure elucidation?
    14·1 answer
  • The marketing researcher for Pooch Party, a manufacturer of toys for dogs, has noticed an increased trend in pet owners dressing
    12·1 answer
  • Mofro's Computer Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year,
    7·1 answer
  • According to the quadrants of the social style matrix, which of the following should salespeople do when selling to expressives?
    10·1 answer
  • McDonald's is a major company in the restaurant business
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!