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Lyrx [107]
3 years ago
11

On October 1, Black Company receives a 6% interest bearing note from Reese Company to settle a $20,000 account receivable. The n

ote is due in six months. At December 31, Black should record interest revenue of:
A. $0
B. $300
C. $600
D. $1,200
Business
1 answer:
Ivanshal [37]3 years ago
7 0

Answer:

B. $300

Explanation:

The interest revenue is computed below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $20,000 × 6% × (3 months ÷ 12 months)

= $300

The 6 months is calculated from October 1 to December 31

Simply we use the simple interest formula by considering the principal amount, rate of interest and time period so that the correct revenue can be computed

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Explain the difference between what health insurance covers and what long term disability insurance covers
OLEGan [10]

Answer:

In essence, health insurance benefits enable employees to seek needed medical care. Disability insurance replaces a portion of employee income when they can't work because of an illness or disability. For the most part, disability insurance will not replace all of someone's income.

Explanation:

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2 years ago
In December of Year 4, John (a cash-basis taxpayer) received a $2,000 payment from Tom who signed a year's lease to rent John's
larisa86 [58]

Answer:

John should include $1,600 as rental income on his Year 4 tax return as a result of the $2,000 payment.

Explanation:

As a cash-basis taxpayer, John's taxable income is based on the actual cash receipts and payments made in the accounting period.  The refundable part of the rent should not be included as rental income since it is a security deposit that would be returned at the end of the lease period.  If John were an accrual-basis taxpayer, the rental income to be included would have been only $800 representing income for Year 4.

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3 years ago
Even though Yvonne is terrible at playing tennis, she could still consider it an interest of hers.
zhuklara [117]
This is true. She can learn the rules of the game, terms used, top tennis players, types of courts played on, the various tournaments, her favorite players.
Many people cannot play sports very well but still can be avid fans of the sport! Thank goodness!
8 0
3 years ago
Read 2 more answers
washington enterprises had net income of $1,000,000, invested $150,000 in fixed assets, paid $50,000 in dividends, and took depr
zhuklara [117]

Washington enterprises had a net income of $1,000,000, invested $150,000 in fixed assets, paid $50,000 in dividends, and took depreciation expense of $80,000 the free cash flow was $9,30,000

Free Cash Flow is the cash an agency generates after taking into account coins outflows that help its operations and maintain its capital assets. In different phrases, unfastened cash goes with the flow of the cash left over after an organization will pay for its running prices and capital fees.

To calculate free cash flow use the formula:

Free cash flow = Net income + Depreciation - Fixed capital

Given,

Net income = 10,00,000

Depreciation = 80,000

Fixed capital = 1,50,000

Putting the values in the formula

Free cash flow = 1000000 + 80000 - 150000

Free cash flow = $9,30,000

Free Cash Flow measures an organization's financial overall performance. It suggests the coins that a corporation can produce after deducting the purchase of property together with assets, devices, and different most important investments from its operating cash flow activities.

Learn more about Free cash flow here brainly.com/question/15848997

#SPJ4

7 0
2 years ago
Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who ha
Reptile [31]

Answer:

Target Marketing

Explanation:

Candy's Clothes is engaging in target marketing because it is tailoring its marketing strategy (and its products) to a specific, narrowly-defined group of people, which can be thought of as the firm's niche.

This strategy is useful when companies have a clear idea of what demographic group they want to sell. Other firms have products with a broader appeal, and therefore, are better off using other marketing strategies that can reach a larger group of people.

7 0
3 years ago
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