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Mkey [24]
3 years ago
13

Jane and Bart organized food truck business- Just Best Food Inc (JBF Inc.). JBF Inc. decided to follow accrual method of account

ing. JBF Inc. borrowed $8,000 from the bank on November 1, 2015. The note had a 5 percent annual rate of interest and maturity on April 30, 2016. Yes, it was a short-term debt. Interest and principal were paid in cash on the maturity date. What total amount of cash was paid to the bank on April 30, 2016, for principal and interest

Business
1 answer:
Rashid [163]3 years ago
5 0

Answer:

Answer is option C i.e $200

Explanation:

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A $15 cash payment is made to Starbucks to purchase coffee for a business client, a $64 cash payment is made for supplies purcha
Vera_Pavlovna [14]

Answer:

The journal entry to record the replenishment of the fund is Petty Cash Fund $92          Cash $92 Journal entry:Before proceeding with the journal entry, we have to determine the total amount = cash payment made to starbucks + cash payment to supplies + cash payment to UPS= $13 + $46 + $33= $92Now the journal entry is Petty Cash Fund $92          Cash $92 (To record the replenishment of the funds)

Explanation:

4 0
2 years ago
If a well-diversified portfolio of stocks has an expected return of 15% when the expected return on the market portfolio is 10%,
goblinko [34]

Answer:

B

Explanation:

According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)

Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

Market beta is represented by 1. If a portfolio has a beta that is higher than 1, it means that it is more risky than the market portfolio and investors would demand a higher return than the market portfolio

7 0
2 years ago
a tech company decides to pay dividends to shareholders out of its net earnings. this will decrease its
sergeinik [125]

A tech company decides to pay dividends to shareholders out of its net earnings. this will decrease its

This program automatically uses a shareholder's dividends to acquire additional shares of a firm's outstanding or newly issued stock.

If a organisation pays inventory dividends, the dividends lessen the agency's retained earnings and boom the common stock account. stock dividends do not bring about asset changes to the balance sheet but as a substitute affect only the equity aspect with the aid of reallocating a part of the retained earnings to the commonplace inventory account.

Dividend- A dividend is the distribution of a organisation's income to its shareholders and is determined by means of the company's board of administrators. Dividends are frequently dispensed quarterly and can be paid out as cash or in the shape of reinvestment in additional stock.

The dividend yield is the dividend per proportion and is expressed as dividend/price as a percent of a organisation's proportion charge, along with 2.five%.

not unusual shareholders of dividend-paying corporations are eligible to obtain a distribution so long as they very own the stock earlier than the ex-dividend date.

Learn more about dividends here:-

brainly.com/question/2960815

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8 0
1 year ago
Read 2 more answers
ABC, Inc. discounts a 5%, 9-month, $1,000 note with a financial institution after holding the note for 3 months. The note was re
Gnoma [55]

Answer:

interest receivable   12.50    debit

     interest revenue     12.50 credit

--adjusting entry for the interest accrued--

interest expense      11.31 debit

cash                     1,001.19 debit

     note receivable             1,000.00 credit

     interest receivable             12.50 credit

--to record early discount of the note--

Explanation:

We are going to write-off the note and check for the interest expense:

book value of the note:

principal  + interest accrued

principal x rate x time = interest

1,000 x 0.05 x 3 months/12 month a year  = 12.50

we had interest receivable for 12.50

1,000 + 12.5 = 1,012.5 we receive 1,001.19

interest expense: 11.31

We are following this process to avoid compensate balance as is the company earned interest during those three months and then it pay interest to get cash earlier.

8 0
3 years ago
Magic Realm, Inc., has developed a new fantasy board game. The company sold 15,000 games last year at a selling price of $20 per
mylen [45]

Explanation:

1. a. Contribution format income statement for the game last year and compute the degree of operating leverage

Magic Realm, Inc.

Contribution Income Statement

Total Per Unit

Sales                                $300,000            $20

Variable                            90,000                6

Contribution margin        210,000            $14

Fixed expense                 182,000

Net operating income      $28,000

1.b. Compute the degree of operating leverage

The degree of operating leverage is:

Degree of operating leverage = Contribution margin/Net operating income

                                                    = $210,000/$28,000

                                                   = 7.5

2. a. Sales of 18,000 games represent a 20% increase over last year's sales. Because the degree of operating leverage is 7.5, net operating income should increase by 7.5 times as much, or by 150% (7.5 × 20%).

                                                   = 150%

2.b. The expected total dollar amount of net operating income for next year would be:

Last year's net operating income         $28,000

Expected increase in net operating income

next year                                  (150% × $28,000) 42,000

Total expected net operating income       $70,000

8 0
3 years ago
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