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slavikrds [6]
3 years ago
10

Universal Travel Inc. borrowed $500,000 on November 1, 2013, and signed a 12-month note bearing interest at 6%. Interest is paya

ble in full at maturity on October 31, 2014. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2013, in the amount of:
A. $8,000.
B. $30,000.
C.$5,000.
D. $25,000.
Business
1 answer:
valentinak56 [21]3 years ago
6 0

Answer:

C.$5,000.

Explanation:

November 1, 2013

Amount of Loan = $500,000

As the Interest is payable at maturity, at December 31, 2013 only one month of interest expense is accrued, which is not paid, Following Journal entry will be passed tor record the interest expense.

Dr.  Interest Expense               $2,500

Cr.  Interest Payable on Note  $2,500

Interest Expense = $500,000 x 6% x 2/12 = $5,000

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Answer:

The average operating cost is $0.46 per mile

In deciding whether to to her use her own car or rent a car the costs are analysed below:

Variable operating cost is a relevant cost

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insurance is not relevant as well

automobile tax and license is not relevant as it would be paid regardless of the option chosen

Explanation:

The average cost comprises of the variable operating cost per mile as well as the fixed operating cost per mile

variable operating cost per mile is $0.06

fixed cost operating cost=fixed costs/total miles driven=($3,350+$1,700+$900+$450)/16000=$6400 /16000=$0.40

average cost per mile=$0.06+$0.40=$0.46

4 0
3 years ago
Bachelor’s degrees are typically earned in _____.
WARRIOR [948]

Answer:

A bachelor degree is typically earned between 3 and 4 years. Many schools require students to complete about 40 courses or 120 credit hours.

8 0
2 years ago
Read 2 more answers
Having the skill to coordinate different people and different tasks to work towards one goal is necessary for which of the follo
san4es73 [151]

Answer:

C. Manager

Explanation:

The job of a manager is to organize all the units in the business for proper functioning

4 0
2 years ago
Companies HD and LD have the same tax rate, sales, total assets, and basic earnings power. Both companies have positive net inco
sukhopar [10]

Answer:

Company HD pays less in taxes

Explanation:

In the case when the company HD and LD have the similar rate of tax, sales revenue,  etc even both have favorable net incomes also the company Hd contains greater debt ratio due to which it has more interest expense so that means company hd would pay less taxes

Therefore the above represent the answer

and, this is the answer but the same is not provided in the given options

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2 years ago
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Green Corporation hires six individuals on January 4, 2019, all of whom qualify for the work opportunity credit. Three of these
ivann1987 [24]

Answer: $4,650 Tax Credit

Explanation: Green Corporation is entitled to file for a work opportunity credit as it has given work opportunities to workers with significant barriers to employment.

Green Corporation is entitled to get 40% on wages paid per year on workers who worked for at least 400 hrs and 25% for at least 120 hrs

Green Corporation had 2 sets of workers in this category and they are:

Set 1 worked 400 hrs and are paid $8,500

Set 2 worked 300 hrs and are paid $5,000

to get the work opportunity credit for 2019:

$8,500 * 40%+ $5,000 *25% = $3,400+$1,250= $4,650

3 0
3 years ago
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