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
podryga [215]
3 years ago
11

On November 1, 2019, a firm accepted a 5-month, 10 percent note for $1,080 from a customer with an overdue balance. The accrued

interest recorded for this note for the year ended December 31, 2019, is
Business
1 answer:
stiks02 [169]3 years ago
3 0

Answer: $18

Explanation:

From the question, we are informed that On November 1, 2019, a firm accepted a 5-month, 10 percent note for $1,080 from a customer with an overdue balance.

The accrued interest recorded for this note for the year ended December 31, 2019 goes thus:

The value of notes receivable is $1080, then the interest for 5 months will be:

= ($1080 × 10% ×5)/100 × 12

= $54000/1200

= $45

We are further told that the interest accrued from November 1, 2019 to December 31, 2019. This means that it was for 2 months. The accrued interest will now be:

= $45 × 2/5

= $90/5

= $18

You might be interested in
Hushovd Iron Works has collected the following data for its Thunderbolt line of products:Direct materials standard 10 pounds per
Dima020 [189]

Answer:

The correct answer is D: $3500 unfavorable

Explanation:

Giving the following information:

Standard:

Direct materials standard 10 pounds per unit

Direct materials standard cost $0.75 per pound

Actual:

Material purchased cost $0.85 per pound

Direct materials purchased 40,000 pounds

Direct materials used 35,000 pounds

Finished goods produced 4,500 units

Direct material price variance= (SP-AP)*AQ

SP= standard price

AP= actual price

AQ= standard quantity

Direct material price variance= (0.75-0.85)*35000

Direct material price variance= $3500 unfavorable

7 0
3 years ago
In the context of skills of successful managers, making sacrifices to encourage and promote desired outcomes in an organization
Zielflug [23.3K]

Answer: monitoring operation

Explanation:

Monitoring operations requires management oversight, employee feedback and customer reviews. It can help provide specific directions for employees, which can lead to improved time management and increased productivity.

4 0
3 years ago
Write any four advantages of living in a community<br><br>​
Lina20 [59]
When you live in a community there is a sense of belonging since people know each other

When you live in a community there is usually security or neighborhood watch to keep you safe

When you live in a community there is cooperative because of there isn’t it won’t be a very happy community

There is a lot of places to be social in a community

When you live in a community there is a cleaner environment due to the city cleaning it
8 0
3 years ago
Chris bought 10 shares of Apex Company for $25 each, and later sold all of them at $45 each. This transaction resulted in what t
Veseljchak [2.6K]

the answer is a capital gain . C                                                                  



5 0
3 years ago
Read 2 more answers
On Jan. 2, Callie Company received a $700 payment from a customer previously billed for services performed. The journal entry to
Lerok [7]

Answer:

Cash and equivalents $700 Debit*

Accounts Receivables $700 Credit*

Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.

7 0
3 years ago
Other questions:
  • Project P requires an investment of 4000 at time 0. The investment pays 2000 at time 1 and 4000 at time 2. Project Q requires an
    13·1 answer
  • Franklin Co. had 10 units of an inventory item on hand at the beginning of the current year, each of which had a per-unit cost o
    9·1 answer
  • Which type of evidence serves to substantiate the distinct set of elements whose commission or omission must be demonstrated to
    7·1 answer
  • The regulations regarding both advertising and doing real estate business over the internet have been set forth in:
    8·1 answer
  • Julie has a desk right next to her manager's office. whenever her manager is in the office, julie makes sure that she works hard
    12·1 answer
  • The following data pertain to the Oneida Restaurant Supply Company for the year just ended.
    10·1 answer
  • Sweet Company reports a pretax financial income of $72,600 for 2020. The following items cause taxable income to be different th
    6·1 answer
  • What happens in the process represented by the pseudocode below?
    7·1 answer
  • Jed goes to the deli to purchase turkey that costs $6.71 per pound. State regulations indicate that the scale used in the deli m
    7·1 answer
  • The following data are taken from the financial statements of Bar Harbor Company:
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!