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inessss [21]
3 years ago
12

On November 1, 2015, Lendem, Inc. loaned an employee $100,000 at 6% with both the interest and principal due in one year. The ad

justing entry to record the interest earned but not received as of December 31, 2015 includes a: A. debit to Interest Receivable of $1,000 B. debit to Interest Revenue of $1,000 C. debit to Interest Payable of $6,000 D. debit to Cash of $5,000 E. debit to Interest Receivable of $6,000
Business
1 answer:
Finger [1]3 years ago
7 0

Answer:

A. debit to Interest Receivable of $1,000

Explanation:

The journal entry is given below;

Interest Receivables ($100,000 × 6% × 2 ÷ 12) $1,000.00  

             To Interest Revenue  $1,000.00

(being the interest earned but not received is recorded)

Here the interest receivable is debited as it increased the assets and credited the interest revenue as it also increased the revenue

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Last year Attic charged $2,334,667 Depreciation on the Income Statement of Andrews. If early this year Attic purchased a new dep
olga nikolaevna [1]

Answer:

Note: The correct option is a. Increase Net Cash from operations.

Explanation:

Note: This question is not complete as the options are omitted. The options are therefore provided to complete the question before answering the question as follows:

a. Increase Net Cash from operations

b. Decrease Net Cash from operations on the Cash Flow Statement

c. No impact on Net Cash from operations

d. Just impact the Balance Sheet

The explanation of the answers is now provided as follows:

Since the assets was purchased early in the year, depreciation will be charged on it in the income statement for the year at the end of the year. Since depreciation is a non-cash item, it will added back to the net income in the indirect Cash Flow Statement method as one of the adjustments to the net income under the Cash from operations. This adding back of the depreciation will therefore lead to an Increase Net Cash from operations.

Therefore, the correct option is a. Increase Net Cash from operations.

6 0
2 years ago
The extent to which the dominant values in a society emphasize aggressiveness and the acquisition of money and other possessions
klasskru [66]

Answer:

masculinity

Explanation:

Geerte Hofstede's theory of national cultural established 5 dimensions:

  • Power distance (PDI)
  • Individualism versus collectivism (IDV)
  • Masculinity versus femininity (MAS) : masculinity emphasizes ambition and wealth accumulation, while femininity emphasizes caring and nurturing behaviors, environmental awareness and gender equality.
  • Uncertainty avoidance (UAI)
  • Long-term orientation (LTO)

3 0
3 years ago
Anika knows that her company has a formal code of conduct, but she does not see this code being equally and consistently applied
Luda [366]

Answer:

<u>Opportunity</u>

Explanation:

A code of conduct creates a formal way of how employees maintain a standard of conduct while interacting and discussing ideas.

Such a conduct is essential for any organization since it implements the abidance by rules and organizational policies treating everybody equally and ensuring just and fair treatment to all.

In the given case, an employee observes the existence of a formal code of conduct at her workplace which is not implemented consistently at all levels and covering all employees.

Such negligence in implementation would lead to an enhancement of the possibility and creates an opportunity for employees to commit unscrupulous acts, being aware of the shortcomings in the implementation of such formal code of conduct.

7 0
3 years ago
If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the fi
Margarita [4]
In order to break even, they would need to sell at least 5,000 units

Break even point is calculated by the formula:

Fixed costs÷(selling price -variable costs per unit)

i.e.

100,000 ÷ (60-40) = 5,000

Anything they sell above this number will start to produce profits for the company
3 0
3 years ago
In which situation would an employer be required to pay overtime?
madreJ [45]

Situations in which an employer would be required to pay overtime are:

A salaried employee works on a Saturday

A salaried employee works on a federal holiday

Explanation:

Overtime payments are required b the law to pay to a firm when they make their employees work over the permissible limit of work or hat is allowed int he job contract as the work limit for the company.

The concept is introduced for salaried workers as the work for a salary for the month and not on the hourly basis.

They are to be paid whenever they are made to work over whatever is in their contract which includes Saturday for most workers who do not have an off then and also on federal holidays invariably.

3 0
3 years ago
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