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g100num [7]
3 years ago
10

The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Y7 Dec. 7.

Received from Unitarian Clothing and Bags Co., on account, a $78,000, 60-day, 8% note dated December 7. Dec. 31. Recorded an adjusting entry for accrued interest on the note of December 7. Dec. 31. Recorded the closing entry for interest revenue. 20Y8 Feb. 5. Received payment of note and interest from Unitarian Clothing Journalize the entries to record the transactions.

Business
1 answer:
Gnesinka [82]3 years ago
3 0

Answer:

The diagram is well defined showing all the parameters required.

Best Regards.

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On September 1, 2021, Red Co., issued $48 million of its 10% bonds at face value. The bonds are dated June 1, 2021, and mature o
Harlamova29_29 [7]

Answer:

$1,200,000

Explanation:

The computation of the accrued interest is shown below:

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

= $48,000,000 × 10% × (3 months ÷ 12 months)

= $1,200,000

We simply applied the simple interest formula by considering the principal amount, rate of interest and the number of months so that the correct amount could come

3 0
3 years ago
Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sol
jenyasd209 [6]

Answer:

$200,000

Explanation:

Accounting profit = Total revenue - Explicit cost

Total revenue = 4000 × $300 = $1,200,000

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I hope my answer helps you

4 0
3 years ago
Alex and J.J. Both apply for two job openings in the same department at a law firm in Chicago. They both interview very well and
denis23 [38]

Solution :

In the context, it is given Alex and J.J. both are applying for a job openings in a law firm at Chicago. Both of them got the job offer but J.J. got lower salary than Alex. The salaries are different for both J.J and Alex. Some of the possible explanations for the difference in salaries that may be related to some scenarios are :

  • Alex went to higher tier law school  ----  difference in education
  • J.J. is reentering the workforce after two years away  ---  difference in experiences.
  • Alex will be working with a notoriously difficult boss  ---  compensating differentials.
  • Alex is a man and J.J. Is a woman  ---  economic discrimination.

                         

8 0
3 years ago
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Amanda [17]

Answer:

Every business has a moral duty to be a good corporate citizen.

Explanation:

Businesses are formed to make profit, and this is the primary goal of businesses. So when making a business case for a company to act in a socially responsible manner, the benefit to the business as profits is the primary consideration.

If it is argued that every business has a moral duty to be a good corporate citizen, it does not translate to profits or benefit for the company.

So this is a weak argument when a business case is being created for why businesses should act in a socially responsible manner.

3 0
3 years ago
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