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ella [17]
3 years ago
15

Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform S

upply intends to continue collection efforts, what entry should Uniform Supply make on January 15 of the next year? (Assume no reversing entries are made.) (Use 360 days a year.)
Business
1 answer:
Vesna [10]3 years ago
8 0

Answer:

Check the explanation

Explanation:

Solution: Journal entry for the purpose would be:

Cash A/c. Dr. 4920

Interest Revenue 20

Interest Receivable 100

Note Receivable. 4800

(Being due amount on note along with the interest collected)

Note:

Total interest on Note= 4800 x 10% x90/ 360 days

= $120

Interest accrued in previous year=$ 120 x 2.5/3 =$ 100

(i.e. represent in entry by way of interest receivable)

Interest income for current period =$(120-100)=$20

Assumed: Financial year ended on December 31st.

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Read the Leading Innovation and Change: Best Practices Case Study and answer the following in the Lesson Forum: What elements of
4vir4ik [10]

The correct answer to this open question is the following.

Although there is no further information about the case of study, we can say that the question possible refers to the case where the name of the company is just "The Client." The name of the document is "Leading Innovation Change - The Kotter Way."  

This case refers to the challenges faced by an organization when it is time to innovate. Many members want to innovate but the culture of the company or the lack of proper leadership from managers often hinders the innovation efforts of the company.

So some of the elements of Kotter's Eight Stages of Leading Change that were included in the case were the following.

Create Urgency. The creation of new products of the company was limited and was not enough to compete in the future. A sense of urgency was needed to implement innovation.

Form a Powerful coalition. The company had to be very selective about the kinds of products that could help it to successfully compete in the future. The company had to use the best it had to establish priorities.

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6 0
3 years ago
What type of economy is an economic system in which private businesses can operate freely with minimal state control
kkurt [141]
Market economy is the economic system which private businesses can operate freely with minimal state control
7 0
3 years ago
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If the actual output of a piece of equipment during an hour is 500 units and its best operating level is at a rate of 400 units
Vladimir79 [104]

Answer:

d. 1.25

Explanation:

In a business context, the capacity utilization rate is a value that allows the company know how well they are performing compared to what the recorded optimal levels are. In order to calculate this value we simply divide the current operating level for a specific time-period by the optimal level of that same time period, which in this case would be 1 hour. Therefore, in this case we would divide 500 by 400 which would give us 1.25.

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How do I delete my acount
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Pine Street Inc. makes unfinished bookcases that it sells for $58.10. Production costs are $37.49 variable and $10.50 fixed. Bec
love history [14]

Answer:

Pine Street should sell  finished bookcases because they have a higher contribution margin.

Explanation:

We compare the contribution margin of the two categories to find out whether Pine Street should sell unfinished or finished bookcases.

Pine Street Inc.

Unfinished bookcases

Contribution Margin

Sales Price                                         $58.10

Less  Production costs

Variable Costs  $37.49

<u>Fixed Costs $10.50                         (47.99)</u>

<u>Contribution Margin                      $ 10.11</u>

Pine Street should sell  finished bookcases because they have a higher contribution margin. It is almost double of the unfinished book cases contribution margin.

Pine Street Inc.

Finished bookcases

CONTRIBUTION MARGIN

Sales Price                                                                 $74.91

Less Production costs

Variable Costs  $37.49 + $5.79 = $ 43.28

<u>Fixed Costs $10.50                                                     $ (53.78)</u>

<u>Contribution Margin                                               $ 21.13</u>

4 0
3 years ago
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