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Stolb23 [73]
3 years ago
12

On February 1, 2021, a company loans one of its employees $29,000 and accepts a ten-month, 8% note receivable. Calculate the amo

unt of interest revenue the company will recognize in 2021
Business
1 answer:
AysviL [449]3 years ago
8 0

Answer:

Calculation of interest revenue:

Interest revenue = $29,000 x 8% x 10/12 = $1,933

Explanation:

a) Data and Calculation:

Feb. 1, 2021 Loan to employees = $29,000

Ten-month, 8% note receivable

Interest revenue = $29,000 x 8% x 10/12 = $1,933

The note is for 10 months, but the rate of interest is 8% per annum.  After the rate is applied on the loan to get an interest of $2,320, this will then be multiplied by 10 and divided by 12 to get the 10 months interest revenue.  These loans to employees are expected to be repaid by the end of November, 2021 with the interest.

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5 0
3 years ago
Joanne is a member of a group that is developing a questionnaire as a group project in her sociology class. The leader of her gr
Scrat [10]

Answer:

Expressive leadership

Explanation:

The group leader is exhibiting expressive leadership style. Expressive leadership style is one of the most effective techniques which help to engage employees in a healthy informative discussion.  Effective leaders are also democratic leaders and that is why such are mostly successful in running a business and in leading employees.  Group harmony and communication are some priorities of expressive leaders. Moreover, such leaders make decisions by collaborating with every member of the team. Joanne must listen to those suggestions and try to implement them in her questionnaire.

7 0
3 years ago
In its first 10 years a mutual fund produced an average annual return of 20.4420.44​%. Assume that money invested in this fund c
mr Goodwill [35]

Answer:

3.73 years or 4 years approx

Explanation:

The computation of the number of years taken for money invested for double is shown below:

As we know that

Amount = Principal × (1 + interest rate ÷ time period)^interest rate × time period

where,

We assume the principal be P

And, the amount is 2P

And, the other values would remain the same

So,

2P = P (1 + 0.2044 ÷ time period)^ 1  × time period

2 = (1.2044)^ time period

Now take the log both sides

ln2 = ln (1.2044)^time period

ln2 - time period ln (1.2044)

So,

time period = ln(2) ÷ ln (1.2044)

= 3.73 years or 4 years approx

3 0
3 years ago
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these prod
adoni [48]

Answer:

Given that generators generate greater profit with less consumption of hours, the maximum profit would be building 130 generators, obtaining $ 32,500 of profit, and there would be 10 hours of testing left over.

Explanation:

Since the Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators, and both of these products require wiring and testing during the assembly process, and each generator requires 2 hours of wiring and 1 hour of testing and can be sold for a $ 250 profit, while each alternator requires 3 hours of wiring and 2 hours of testing and can be sold for a $ 150 profit, and there are 260 hours of wiring time and 140 hours of testing time available in the next production period and Electrotech wants to maximize profit, to determine this situation the following mathematical logical reasoning must be carried out:

260/2 = 130

140 - 130 = 10

130 generators = 32,500

Thus, given that generators generate greater profit with less consumption of hours, the maximum profit would be building 130 generators, obtaining $ 32,500 of profit, and there would be 10 hours of testing left over.

4 0
2 years ago
Record transactions and adjustments Enter the following column headings across the top of a sheet of paper:
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Answer:

true

Explanation:

5 0
3 years ago
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