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
liraira [26]
3 years ago
12

Universal Travel Inc. borrowed $501,000 on November 1, 2021, and signed a 12-month note bearing interest at 7%. Interest is paya

ble in full at maturity on October 31, 2022. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2021, in the amount of: (Round your final answers to the nearest whole dollar.)
Business
1 answer:
Anon25 [30]3 years ago
3 0

Answer:

Interest = $5,834.67

Explanation:

In November 1, the note bears 12 month = 7%

From November 1 to December 31 = 2 month

Hence for 2 month Interest = 2 * 7/12(%) = 1.1667%

Thus, interest = $500,100 * 1.1667%

Interest = 5834.6667

Interest = $5,834.67 approximately.

You might be interested in
Jeffrey works as an independent contractor for an accounting firm jointly owned and managed by the Matthews brothers. Which of t
lions [1.4K]

Answer:

The correct answer is letter "A": Jeffrey will be solely responsible for making payments for his Social Security (FICA).

Explanation:

Independent contractors act like third party services working for an entity to render services for specific jobs. Independent contractors are not employees of the company who hires them for the job which implies the independent contractors are fully responsible for the payment of their own Social Security and Medicare taxes.

8 0
3 years ago
On may 1, newtown motors, a used-car dealer, wrote a letter to o'reilly, which stated, "we have a 1969 pontiac firebird in mint
Studentka2010 [4]
<span>I don't think there was any official contract set in place. It says they wrote a letter and said they'd sell it before June 1st. However, this wasn't a contract. It was only a letter of information. No one had a contract so no contract could have been breached.</span>
6 0
3 years ago
When John first starts his job, he rides the bus wherever he goes. However, after one year, John receives a promotion and a pay
vekshin1

Answer:

c. Inferior

Explanation:

Based on the information provided it can be said that this behavior would indicate that to John, a bus ride is an inferior good. This term by definition is a good whose demand decreases when consumer's income rises. Since John received an increased salary with his promotion, he is now able to afford to be able to drive instead of taking the bus. Therefore his demand for taking the bus has drastically decreased.

4 0
3 years ago
There is a 20 percent probability the economy will boom, 70 percent probability it will be normal, and a 10 percent probability
kenny6666 [7]
The answer is B because I don’t some calculations and got that answer
4 0
3 years ago
Joe sends for a MBA catalog from State University. According to the catalog, the MBA applications are evaluated on the basis of
irinina [24]

Answer:

The answer is: C) There is a valid contract

Explanation:

According to Appellate Court ruling in Steinberg v. Chicago Medical School;

The two parties (Joe and Sate University) entered a valid contract agreement upon receiving the $100 dollar application fee from Joe. State University´s catalog is considered to be the Offer part of this contract and the $100 application fee is considered the Consideration part of the contract.

7 0
4 years ago
Other questions:
  • What is the pro-forma as adjusted cash and cash equivalents amount on Twitter’s balance sheet as mentioned in the amended S-1 fi
    11·1 answer
  • ​when phrasing interview questions, a systems analyst should avoid _____ that suggest or favor a particular reply.
    11·1 answer
  • Virginia sees Carl, with whom she attended high school 15 years ago, driving near her in rush hour traffic. She honks and waves
    9·1 answer
  • Organizational members use _____ to make sense of organizational events and changes and to emphasize culturally consistent assum
    7·2 answers
  • Which part of a business is the owner responsible for?
    10·1 answer
  • The Beef Council promoted a series of ads in which the tagline was "Beef—it's what's for dinner." The purpose of these ads was t
    8·1 answer
  • Process X has fixed costs of $10,000 and variable costs of $2.40 per unit. Process Y has fixed costs of $9,000 and variable cost
    6·1 answer
  • Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,640 pounds of materi
    14·1 answer
  • The Wall Street Journal magazine offers a significant discount to students who purchase a one-year subscription. If the reason f
    6·1 answer
  • game theory a. is used to measure power b. was the approach taken by marx to analyze the international economy c. can be used to
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!