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Mandarinka [93]
3 years ago
9

Heinlein Assoc. accepted a two-year interest-bearing note for $1,000,000 on January 1, 2020. The note was accepted as payment fo

r merchandise with a fair value of $1,000,000. The effective interest rate is 7%. Interest is paid at the end of each year.The cash collection on December 31, 2021, would be recorded as:________.
Business
1 answer:
gladu [14]3 years ago
8 0

Answer:

                                   Debit                              Credit

Cash                            1,000,000

Note receivable                                                  1,000,000

Cash                              70,000

Interest receivable                                               70,000

Explanation:

At December 31 2021 it would be the end of maturity of the 2 year note so the note would be have to be paid in full, so Heinlein assoc will receive $1,000,000 in cash for the note. Also because it is the end of the year they will also receive 7% interest which is (0.07*1,000,000)= 70,000

The Heinlein Assoc will debit cash by 1,000,000 and credit the note receivable by the same amount and they will debit 70,000 cash and credit interest receivable by 70,000.

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Endor Company begins the year with $180,000 of goods in inventory. At year-end, the amount in inventory has increased to $197,00
Flauer [41]

Answer:

6.896; 50.97

Explanation:

Average inventory = (Beginning inventory + Ending inventory) ÷ 2

                               = ($180,000 + $197,000) ÷ 2

                               = $188,500

Therefore,

Inventory Turnover ratio = (Cost of goods sold ÷ Average inventory)

                                         = $1,300,000 ÷ $188,500

                                        = 6.896

Days sales in inventory = 365 ÷ Inventory turnover ratio

Days sales in inventory= 365 ÷ 6.89

                                      = 50.97

3 0
3 years ago
Differentiated oligopoly exists where a small number of firms are:
garri49 [273]
Occupying most of the market share
6 0
3 years ago
Which of the following statements is CORRECT?a. Projects with "normal" cash flows can have two or more real IRRs.b. Projects wit
MaRussiya [10]

Answer:

e. Projects with "normal" cash flows can have only one real IRR

Explanation:

Normal cash flow refers to normal expected cash flow from the project, it might be negative, or positive. But generally there is a pattern in such cash flows. Initially they might be negative, but as the project starts getting mature there is positive cash flow.

This is normal circumstance. Under this there is only one real IRR. IRR is represented as the rate of return where present value of inflows = present value of outflows.

Thus, statement is true and correct.

6 0
4 years ago
Which 3 features should you suggest to your clients to build their brand recognition? a) Get choosy with your fonts and use a fo
gulaghasi [49]

Answer:

a) Get choosy with your fonts and use a font type that matches the company's branding scheme

b) Add a company logo to customer sales forms Use the standard template with no customization

c) Add a splash of color that matches the company's branding scheme

Explanation:

Brand recognition refers to the recognition of the company brand by identifying with the product tag line, logo, advertising, packaging, etc

It could be identified with the help of audio and video clip so that the people could aware of it

Now for building the brand recognition, the following attributes needed

1. Selection of font that matches with the branding

2. Added a logo also the standard template is required

3. Add color splashes

7 0
4 years ago
Rachael is the owner of a watchmaking company. She has changed the company’s marketing mix and decided that she will target weal
Phantasy [73]

Answer:

The correct answer would be, Partner with an older, well connected socialite couple to endorse the brand.

Explanation:

As Rachael is the owner of the watchmaking company and has the authority to change the marketing strategies and mixes for the brand. She decides to totally change the target market for her brand. She now focuses on old wealthy, craftsman who seek quality. So now she needs to promote her new marketing mix, to target her new market. So for this, the best strategy which she can use in support of her marketing mix would be to make an older well connected socialite couple, her partner, to promote and endorse her brand. This will help her promote her new exclusive collection and can target the old wealthy quality seekers easily.

4 0
4 years ago
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