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Mariana [72]
4 years ago
13

Franklin Company borrowed $144,000 from a bank on March 1, 2021 and agreed to pay it back in eleven months at an interest rate o

f 19% per year. Calculate the amount of interest expense related to this loan reported in Franklin Company's 2022 income statement.
Business
1 answer:
ioda4 years ago
6 0

Answer:

$25,080

Explanation:

Given:

Loan amount = $1,44,000

Starting Date 1 march 2021

Duration = 11 month

Interest Rate = 19%

Amount of interest =?

Amount of interest for a year = PRT/100\\\\Amount of interest for a year = 144,000\times19\times1/100\\Amount of interest for a year= 27,360

Amount of interest for eleven month = Amount of interest *11/12

Amount of interest = $27,360*11/12

Amount of interest = $25,080

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tatyana61 [14]

The options in this question are missing; here is the missing section:

What two types of departmentalization are illustrated in this example?

A. Product and customer

B. Product and geographical

C. Customer and geographical

D. Functional and customer

E. Geographical and functional

The answer to this question is B. Product and geographical

Explanation:

Departmentalization refers to the creation of departments, units, etc. in businesses to better achieve goals and distribute roles and activities. This can be based on location, products, function, etc.

In the case of Spicy Dish, there is a clear geographical departmentalization because this distributor has created units based on location, due to this, the company has a unit in each major geographical region such as North America, Europe, etc. Moreover, this company has created units based on products because in North America they created two different units and each specializes in one of their products (beans/salsa.)

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4 years ago
Faced with constantly changing​ conditions, why would a firm ever keep any factors​ fixed? What criteria determine whether a fac
Marrrta [24]

Answer:

On the short run, most factors of production are fixed since both wages and prices are sticky, but on the long run, all the factors of production are variable.  So firms cannot decide which factors to keep fixed or not, they simply are fixed or not.

A variable factor of production is one whose input level can change in the short run, e.g. a company can extend working hours from the regular 8 hours a day to 10 hours per day.

A fixed factor is one whose input level cannot be changed in the short run, e.g. it takes several months or even years to build a new production facility, lease contracts usually last 3-5 years.

4 0
3 years ago
If their gross income exceeds $600,
nataly862011 [7]

If Estates are required to file income tax returns if their gross income exceeds $600 and all corporations must file regardless of income. This is called <u> Tax filing requirements.</u>

<u />

<h3>What is Tax filing requirements?</h3>

Tax filing requirements can be defined as the requirement a person or a tax payer  is expected to meet or abide by while filing for tax return.

Tax payer must always check tax filing requirement in order to know whether they meet the requirement before filling for a tax return.

Therefore  this is called <u> Tax filing requirements.</u>

The complete question is:

Estates are required to file income tax returns if their gross income exceeds $600. All corporations must file regardless of income.

Learn more about Tax filing requirements here:brainly.com/question/14748046

#SPJ1

7 0
2 years ago
According to the rule of 72, if you have $15,000 in an account that grows at the rate of 12 percent annually, it will take appro
yulyashka [42]

Answer:

true

Explanation:

7 0
3 years ago
What should you consider to be a minimum probability of success in order to launch a product that you developed?
svetlana [45]

Answer:

If a company wants its new product to enter the market successfully, it must worry about making the four decisions in its marketing strategy: products, communications, pricing and distribution.

Explanation:

For this it is advisable:

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2. The product needs to capture the attention of the consumer.

3. The product has to advertise itself when the consumer is deciding what to buy.

4. It is really important to explain why the modified product is differential.

5. It is necessary to identify the acceptable disadvantages of the product and identified to be ahead before the consumer indicates them. This is to make sure that inconveniences will not be an obstacle to the success of the product.

6. Easy to find, so you have to determine your visibility, what your audience is and what is the best way to see it.

7. The consumer has to feel comfortable with the cost of buying and using that new product.

8. Once the consumer is exposed to the campaign message, the product will have to meet their expectations.

8 0
3 years ago
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