Answer:
No Date Account Titles and Explanation Debit Credit
1. Dec. 31 Interest expenses $400
Interest payable $400
(To record interest due on notes)
2. Dec. 31 Account receivable $2,000
Service revenue $2,000
(To record the service revenue earned)
3. Dec. 31 Salaries and wages expenses $670
Salaries and wages payable $670
(To record the alaries and wages expenses)
Answer:
Interest payable $1,050
Explanation:
Based on the information given F the company's fiscal year ends on December 31st, Hillsmith should make a year-end adjusting entry to increase: INTEREST PAYABLE $1,050
Interest payable $1,050
(7%*60,000*3/12)
(October 1st December 31st=3 months)
Answer:
E)Pure play approach
Explanation:
From the question we are informed about, Farmer's Supply, Inc. who is considering opening a clothing store, which would be a new line of business for the firm. Management has decided to use the cost of capital of a similar clothing store as the discount rate that should be used to evaluate this proposed expansion. In this case, the terms used to describe the approach Farmer's Supply is taking to establish an appropriate discount rate for the project is Pure play approach.
Pure play approach In finance, can be regarded as be used in estimating cost of equity capital especially of that of
private companies, and this involve the examination of beta coefficient of single focused companies as well as public companies. In this approach
company set it's focuses on a particular single type product.
Answer:
Multiple regression
Explanation:
With regards to the above, multiple regression can be used to determine one educational background, interest and gender so as to see if there is a variation in terms of individual's annual income as it relates to their educational background.
Multiple regression basically is a mathematical model, which is used when one value is matched with two or more variables. Here, the value is a stand alone, which is why we study, while the variables are dependent; hence are factors that required to be checked and why the whole analysis is being conducted.
In the above scenario, the value being represented is 'annual income' which is independent, while educational background, interest and gender are variables which are independent.
Answer:
A) Both Riley and Anh are correct.
Explanation:
to see who is right we can calculate:
PV = FV / (1 + r)ⁿ
FV = PV x (1 + r)ⁿ
Riley's statement:
PV = $700 / (1 + 6%) = $660.38
PV = $700 / (1 + 3%)² = $659.82
Riley is right
Anh's statement:
FV = $700 x (1 + 6%) = $742
FV = $700 x (1 + 3%)² = $742.63
Anh is right
They are both right due to compound interest, since compound interest means that the interest earned will also earn more interest.
