1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
LenaWriter [7]
3 years ago
9

On January 10, Chen Co. issued an $80,000, 6%, 90-day note payable to Rao Co. Using a 360-day year, what is the total interest e

xpense of the note?a. $4,800b. $480c. None of these choices are correct.d. $1,200
Business
1 answer:
Yanka [14]3 years ago
4 0

Answer:

d. $1,200

Explanation:

The computation of the interest expense is shown below:

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

= $80,000× 6% × (90 days ÷ 360 days)

= $1,200

We simply apply the simple interest formula

Since the number of days and the total number of days are given so we considered the same for the computation part.

You might be interested in
The Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last​ week, purchased and
pishuonlain [190]

Answer:

Explanation:

The question was missing the actual amount of potatoes used and their actual price = 98,000 pounds at $0.85 per pound:

1. Determine the direct material price and quantity variances.

direct materials price variance = AQ x (AP - SP) = 98,000 x ($0.85 - $1) = $14,700 favorable

direct material quantity variance =  SP x (AQ - SQ) = $1 x (98,000 - 95,000) = $3,000 unfavorable

2. Think of a plausible explanation for the variances found in Requirement 1

Since the actual price of potatoes was less than the standard price, the price variance was favorable. But since the actual quantity used was more than the standard quantity, the quantity variance was unfavorable.

3. Determine the direct labor rate and efficiency variances.

direct labor rate variance = AH x (AR - SR) = 2,100 x ($12.45 - $12.15) = $630 unfavorable

direct labor efficiency variance = SR x (AH - SH) = $14.15 x (2,100 - 2,000) = $1,415 unfavorable

4. Could the explanation for the labor variances be tied to the material's variances?

Probably the labor efficiency variance since more materials had to be processed, but the labor rate variance is completely independent from the materials variances.

8 0
3 years ago
Listed below are some provisions that are often contained in bond indentures. Which of these provisions, viewed alone, would ten
monitta

Answer:

2. A given bond is subordinated to other classes of debt.

Explanation:A bond Indenture is a legally approved contract between a bond holder(the buyer of the bond) and a bond issuer(the original owner of the bond,who sold it to the bond holder).

Subordinated bond is also known as junior Securities or subordinated debt are bonds that are lower in rank compared to other bonds,a subordinated bond holder is only paid when other senior bond have been completely paid out.

4 0
2 years ago
This service allows you to pay at a point of sale and accesses funds in the bank but usually does not charge you a fee:
satela [25.4K]

Answer:

A debit card

Explanation:

A debit card allows customers to make electronic payments using the funds at their bank accounts. If the customer does not have sufficient funds in their bank accounts, the transaction won't go through.

A debit card is similar to a credit card in appearance. However,  a debit card does not levy interest fees or late payment fees because it's not a credit facility.

4 0
2 years ago
For the year, Wilson Manufacturing, Inc. increased its current assets by $62,000, decreased its current liabilities by $55,000,
Oksana_A [137]

Answer:

investment cash flow is $19,000

Explanation:

given data

current assets = $62,000

current liabilities = $55,000

fixed assets = $19,000

to find out

investment cash flow for the year

solution

as we know that cash flows increase or decrease as the result of change in the fixed assets is consider to be cash flows by investment activities

and Changes in working capital cash flow is operating cash flows not investment cash flows

so we can say that

investment cash flow is $19,000

8 0
2 years ago
Suppose the different income levels are as follows (N'billions) : Y=100,120,125,140,80,115,145,150,166,200. Calculate the corres
Zielflug [23.3K]
No you have a picture or something yes or ni
6 0
3 years ago
Other questions:
  • Mistor Co. amended its pension plan on January 2 of the current year. It also granted $600,000 of unrecognized prior service cos
    15·1 answer
  • U-Can-Own-It Corporation sells appliances to less educated consumers, inclnding Viv, on installment plans U-Can-Own-It files a s
    6·1 answer
  • Purchased 18-month insurance policy for cash.Prepaid Insurance 2. Paid weekly payroll. 3. Purchased supplies on account. 4. Rece
    9·1 answer
  • What is positive technological​ change? Positive technological change is when A. a firm is able to produce more output with the
    9·1 answer
  • PLEASE LEAVE A COMMENT EVEN IF THERE ARE TWO ANSWERS! Hi, I am picking a name for my coffee shop, I was thinking CoffeeCake beca
    14·2 answers
  • When Whitney took over her father's sporting goods store, she evaluated some of her father's vendor relationships. She found tha
    14·1 answer
  • Prepaid Rent. On September 1 of the current year, the company prepaid $44,400 for two years of rent for facilities being occupie
    10·1 answer
  • During which step of a sale does a company or sales person ask the prospect to buy the product?
    13·1 answer
  • What is an example of a good stock to buy during economic expansion?
    15·1 answer
  • The race to the bottom scenario of global environmental degradation is explained roughly like this: a. Companies seek to reduce
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!