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Nady [450]
2 years ago
5

Universal Travel, Inc. borrowed $500,000 on November 1, 2021, and signed a twelve-month note bearing interest at 6%. Principal a

nd interest are payable in full at maturity on October 31, 2022. In connection with this note, Universal Travel, Inc. should report interest payable at December 31, 2021, in the amount of: (Do not round your intermediate calculations.)
Business
1 answer:
Hoochie [10]2 years ago
4 0

Answer:

$5,000

Explanation:

Calculation to determine what Travel, Inc. should report as interest payable at December 31, 2021

Interest payable at Dec 31,2021= $500,000 * 6% * 2 months/12 months

Interest payable at Dec 31,2021= $5,000

(November 1 - December 31 = 2 months)

Therefore Travel, Inc. should report interest payable at December 31, 2021, in the amount of:$5,000

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According to classical macroeconomic theory, changes in the money supply affect:_______.
Ivahew [28]

Answer:

Option A. real GDP and the price level.

Explanation:

Option “A” is correct because the change in money supply (say increase) will decrease the interest rate and that will result in an increase in investment and more investment will generate more jobs and more money in consumers’ hands. Thus, they will stimulate the spending and aggregate demand will increase. Resulting in the rise in price and rise in real GDP. therefore, option A is right.

6 0
3 years ago
Match the appropriate costing method to the description
sp2606 [1]

Answer:

  • a. Absorption costing only  --  8. Includes gross profit on the income statement
  • 2. Required by generally accepted accounting principles.
  • b. Variable costing only  --  6. Generally provides the most useful report for setting long-term prices.
  • 3. Treats fixed manufacturing cost as a period cost.
  • 5. Generally provides the most useful report for controlling costs.
  • 4. Operating income is impacted by changes in inventory level.
  • c. Both absorption and variable costing  --  7.May be used in a manufacturing company
  • 1.Treats fixed selling cost as a period cost.

Explanation:

  • The absorption costing includes that all the manufacturing costs which are given to the units produced and the cost of a finished product will be the cost of the direct material and labor.
  • Variable cost is a method that assigned the variables costs to the inventories and means that overall cost changes to expenses in a time of occurrence.
  • Both of these costs are related to the method of the production and costs that are incurred in the production and in which method the company uses to make.
8 0
3 years ago
Jessica Adams is 21 years old and has just graduated from college. In considering the retirement investing options available at
Marina CMI [18]

Answer:

The summary as per the given query is summarized in the explanation section below..

Explanation:

The given values are:

The nominal rate of return,

= 7%

i.e.,

= 0.07

Inflation,

= 4%

i.e.,

= 0.04

  • Lengthy-term inflation would lessen the return on investment that lowers the net return as long-term investments are made.
  • It can also aim to obtain a higher return that will comfortably exceed the rate of inflation and therefore is beneficial towards diminishing the average return.

Now,

The rate of return will be:

= (\frac{1+ nominal \  rate \ of \ return}{1+Inflation}) -1

On substituting the values, we get

= (\frac{1+0.06}{1+0.04} )-1

= (\frac{1.07}{1.04} )-1

= 1.028846-1

= 2.8846 \ percent

Therefore it isn't able to measure the average return rate because the quantity of years for its expenditure.

5 0
3 years ago
The worker-misperception explanation of the SRAS curve is used to explain why a. SRAS curves shift to the left b. the SRAS curve
8090 [49]

The SRAS curve slopes upward.

  • We can understand how each firm in an economy reacts to price stickiness using the short-run aggregate supply curve (SRAS). The SRAS curve will have an upward slope when prices are stable. According to the SRAS curve, more output results from higher price levels.
  • The SRAS curve will move to the left as the cost of such inputs rises, signaling that, at each level of output price, greater input costs will discourage production because they will make it more difficult to turn a profit.
  • The SRAS curve moves to the right as productivity increases because more productive businesses can generate more output at all pricing points.

Thus this is the answer.

To learn more about SRAS curve, refer:brainly.com/question/26875448

#SPJ4

8 0
2 years ago
In 2018, Grant’s personal residence was completely destroyed by fire. Grant was insured for 100% of his actual loss, and he rece
gizmo_the_mogwai [7]

Answer:

(E) $0

Explanation:

The answer is $0  

because you can only deduct losses not reimbursed or reimbursable by insurance or other means. The losses from casualty item are not deductible.

So, the correct answer is  (E) $0

5 0
3 years ago
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