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Anton [14]
3 years ago
13

On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $22,200 account receivable. The

note is due in six months. At December 31, Black should record interest revenue of
Business
1 answer:
lorasvet [3.4K]3 years ago
4 0

Answer:

$555

Explanation:

The computation of the interest revenue is shown below:

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

= $22,200 × 10% × (3 months ÷ 12 months)

= $2,220 × (3 months ÷ 12 months)

= $555

The three month is calculated from October 1 to December 31. The six month period of note is ignored

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The following items appear on the adjusted trial balance of Barker Company:
TEA [102]

Answer:

c. Credit to Dividends for $440.

Explanation:

The second closing entry is

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   To Dividend $440

(being the dividend account is closed)

Here the retained earnings is debited as it decreased the stockholder equity and the dividend is credited as it is closed

Also the first closing entry represent the closing of revenues and expenses

Therefore the option c is correct

8 0
3 years ago
List items exempted by bankruptcy (and their values)
saveliy_v [14]

Answer:Motor vehicles, up to a certain value.

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Explanation:

8 0
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levacccp [35]
It is a eqaul stable technique
5 0
3 years ago
sagar works for a financial advising firm. he must create a financial plan and come up with a list of securities in which his cl
Alik [6]

Since sagar works for a financial advising firm. he must create a financial plan and come up with a list of securities in which his client can invest. This is a investment.

<h3>What is an investment?</h3>

It should be noted that a investment simply means the use of mine in order to create further revenue for the company.

In this case, it was stated that Sagar create a financial plan and come up with a list of securities in which his client can invest. Therefore, this shows that this is an investment.

Learn more about firm on:

brainly.com/question/15130516

#SPJ1

sagar works for a financial advising firm. he must create a financial plan and come up with a list of securities in which his client can invest. sagar must make decisions regarding the investments that he should recommend to his clients to include in their portfolio. Is this an investment or capital market?

7 0
2 years ago
What is the best evidence that many different geologic periods are represented in virginia?
disa [49]
The best evidence is the soil evidence they collected from the archeological digs.
from that in particular...<span>The presence of fossils of different ages</span>
6 0
4 years ago
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