Answer:
A. $1,059
Explanation:
The effective-interest method comes into play when bonds are purchased at a discount or premium.
This bond has the face value of $10,000, and has been purchased at $9,631 called the carrying amount at beginning/ first year in bond life.
The bond’s interest income is calculated as the carrying amount multiplied by the market rate of interest. In this case, the first annual interest income for bond holder is $1,059.41 = $9,631 x 11%
Then ABC Corporation record $1,059.41 for its interest expense on the first annual interest payment date using the effective-interest method
Open innovation change that adds value to be product or service
Practices and processes that encourage the use of external as well as internal ideas in order to create new products and services is known as Blank______ innovation.
Innovation is the incarnation of creativity into a usable product or service. In the entrepreneurial environment, invention is any new idea, process, or product, or a change to be product or process that adds value to that being product or service.
Open innovation is principally a volition to this conventional system of doing invention where information has to stay within preset confines.
A mindset, if you will, of being open to sharing and entering information.
This companion explains how you can make invention a crucial business process and outlines the different approaches you can take. It gives you advice on planning for invention and creating the right business terrain to develop your ideas. It also outlines the help and support available to innovation businesses.
The business case for innovation Approaches to invention Planning Encourage invention in your business Backing innovation
To learn more about innovation refer to :
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Answer:
Net Income = $1,250
Explanation:
Benning Co.
Income Statement
For the Month Ended July 31, 2010
Particulars $ $
Revenues 6,000 (1)
Expenses:
Wages Expense 2,600 (2)
Supplies Expense 1,000 (3)
Utilities Expense 600
Insurance Expense 400
Depreciation Expense 150
<em>Total expenses </em><u><em> 4,750 </em></u>
Net Income $1,250
<u><em>Note:</em></u>
1. Revenues = 5,500 + 500 (Adjustment 5) = $6,000
Performed services not recorded will add.
2. Wages expense = $2,300 + 300 (Adjustment 3) = $2,600
Accrued wages not paid will add to the wages expense.
3. Supplies Expense = $1,200 - 200 (Adjustment 2) = $1,000
Supplies expense includes supplies on hand will decrease the supplies expense.
