The most efficient way to ensure that producers are responsible for products is through

Slack Inc. borrowed $400,000 on July 1, 2020. The note requires interest at 12% and principal to be paid in one year. Which acco

ale4655 [162]

Answer:

The account is debited on December 31, 2020: Interest expense by the entry:

Debit Interest expense $24,000

Credit Interest Payable $24,000

Explanation:

Slack Inc. borrowed $400,000 on July 1, 2020. The note requires interest at 12%.

The amount of interest Slack Inc. pays per year = $400,000 x 12% = $48,000

On December 31, 2020, the company has borrowed $400,000 for 6 months. Following the Accrual basis, Slack Inc. would report on December 31, 2020 the interest expense for 6 months:

$48,000/12 x 6 = $24,000

The adjustment entry:

Debit Interest expense $24,000

Credit Interest Payable $24,000

7 0

4 years ago

A firm's dividend payments less any net new equity raised is referred to as the firm’s:a. operating cash flow.b. capital spendin

mojhsa [17]

Answer:

The correct answer is letter "E": cash flow to stockholders.

Explanation:

The cash flow to stockholders is the amount of money a firm pays to its debtholders and stockholders. It is calculating by subtracting the <em>dividends paid minus new equity</em> -if raised any. The Board of Directors determines the amount and the period to be considered for the dividends and if they are paid from the organization's current earnings or the reserve revenues.

3 0

3 years ago

The worlds first modern bank opened during the 14th century in this country

Naily [24]

The worlds first and modern bank opened during the 14th century in Florence, Italy and later many branches were established in other parts of Europe. Even though the banking system became very crucial in the 14th century, the Bardi and Peruzzi families were able to start and establish several branches during this century.

6 0

3 years ago

How does the effectiveness of the team members influence the group's development process?

igomit [66]

Team effectiveness can be judged by measuring the gainful yield of the group. On the off chance that a person on the group is not investing the exertion the improvement procedure can be longer. A gathering turns into a group when the accompanying criteria are met: Leadership turns into a common movement, Accountability shifts from entirely individual to both individual and group, The gathering builds up its own motivation or mission, Problem-fathoming turns into a lifestyle, not low maintenance action, Effectiveness is measured by the gathering's aggregate results and items. In light of contentions because of force, expert, and temperamental interpersonal connections, many works gathers never qualify as a genuine group.

5 0

3 years ago

The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $3,

QveST [7]

Answer:

$1,290

Explanation:

The work in process inventory account balance is given by the sum of the direct material cost, direct labor cost and the amount of applied overhead.

If the balance is $3,850, with material cost of $1,790 and direct labor cost of $770, the applied overhead is:

$O = \$3,850 - \$1,790 - \$770\\O=\$1,290$

The amount of the applied overhead is $1,290.

4 0

3 years ago