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3 years ago

Economic Condition

Business

2 answers:

USPshnik [31]3 years ago

5 0

Explanation:

9. credit and borrowing expanding

Semenov [28]3 years ago

3 0

Girl I don’t know but

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Blossom Company has the following transactions related to notes receivable during the last 2 months of 2019. The company does no

Sunny_sXe [5.5K]

Answer:

Nov 1 Notes Receivable-C Bohr 66000 Dr

Cash 66000 Cr

Dec 11 Notes Receivable-KR Pine 5400 Dr

Sales Revenue 5400 Cr

Dec 16 Notes Receivable-A Murdock 7200 Dr

Accounts Receivable 7200 Cr

Dec 31 Interest receivable 598 Dr

Interest Revenue 598 Cr

Explanation:

We need to calculate the interest accrued on all the notes. We will then add the interests on these notes and credit interest revenue by that amount and debit interest receivable.

Interest revenue on Note 1

Interest Revenue = 66000 * 0.05 * 2/12 = $550

Interest revenue on Note 2

Number of days interest is accrued for is 20 days (31-11=20)

Assuming a 360 day year.

Interest revenue = 5400 * 0.07 * 20/360 = $21

Interest revenue on Note 3

No of days interest is accrued for is 15 (31-16 = 15)

Assuming a 360 day year.

Interest revenue = 7200 * 0.09 * 15/360 = $27

Total Interest revenue = 550 + 21 + 27 = $598

5 0

3 years ago

On March 1st, Kalka Company borrowed $5,000 in the form of a three-month note payable with an annual interest rate of 6 percent.

STatiana [176]

Answer:

Option (A) is correct.

Explanation:

Given that,

On March 1st,

Kalka Company borrowed = $5,000 for a three-month note payable

Annual interest rate = 6 percent

Period = one month

$Interest expense accrued=5000\times0.06\times\frac{1}{12}$

= 5000 × 0.06 × 0.083

= $24.9 or $25

As Kalka Company borrowed $5000 on March 1st and accrued interest expenses on March 31st is $25.

7 0

3 years ago

a bank account balance for an account with an initial deposit of P dollars earns interest at an annual rate of r. The amount of

Schach [20]

Answer:

If iincrease the value of r. The amount of money after n years increase.

The bank pays you more interest

Explanation:

Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

3 0

3 years ago

Monopolistic competition is similar to monopoly because

docker41 [41]

Answer:

B. in both industry structures, the firm's demand curve is downward sloping.

Explanation:

Both firm types have a downward sloping demand curve which indicates that as price is increased, quantity demanded falls.

Monopolistic competition have no barriers to entry while a monopoly does.

Monopolistic competition have many sellers while a monopoly has one seller.

Monopolistic competition break even in the long run while monopoly maintain super normal profits in the long run

6 0

3 years ago

Almaraz Corporation has two manufacturing departments--Forming and Finishing. The company used the following data at the beginni

vlada-n [284]

Answer:

The correct answe is B.

Explanation:

Giving the following information:

Forming Finishing Total

Estimated total machine-hours (MHs) 7,000 3,000 10,000

Estimated total fixed manufacturing overhead cost $ 40,600 $ 8,100 $ 48,700

Estimated variable manufacturing overhead cost per MH $ 1.30 $ 2.80

To calculate the estimated manufacturing overhead rate for the whole plant we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (48,700/10,000)= $4.87 per machine-hour

8 0

3 years ago