1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gnoma [55]
3 years ago
14

On April 12, Hong Company agrees to accept a 60-day, 10%, $4,500 note from Indigo Company to extend the due date on an overdue a

ccount. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date
Business
1 answer:
yulyashka [42]3 years ago
7 0

Answer:

Dr Notes Payable 4500

Dr Interest expense 75

Cr Cash 4575

Explanation:

Based on the information given if On April 12, the Hong Company agrees to accept a 60-day which include the amount of $4,500 note from Indigo Company which means that in order to extend the due date on an overdue account the journal entry that Indigo Company would make, when it records payment of the note on the maturity date is :

Dr Notes Payable 4500

Dr Interest expense 75

(4500/60 days)

Cr Cash 4575

(4500+75)

You might be interested in
Holt Enterprises recently paid a dividend, D0, of $3.25. It expects to have nonconstant growth of 19% for 2 years followed by a
lyudmila [28]

Answer:

The horizon date of Holt Enterprises is at the end of the second year.

Explanation:

The horizon date is when there is a constant growth or the growth rate becomes constant. The horizon date is the last year in the free cash flow when the growth rate is constant. It is also called forecast horizon or terminal date because it is at the end of the forecast. At the horizon date,  the firm becomes stable and profitable.

The horizon date of Holt Enterprises is at the end of the second year.

6 0
3 years ago
Tom tends to be ignorant about technological advancements. He was reluctant to own a smartphone even when they were well establi
8_murik_8 [283]

Answer:

(C) Laggards

Explanation:

A laggard in general refers to someone who lags behind or whose progress is slow.

The word "adopter" refers to, someone who adopts and accept something new. Adopters are categorized as, customers based upon their desire to try out new things or accept latest trends.

Five kinds of adopters are described under the said classification namely, innovators, early adopters, early majority, late majority and laggards.

In the given case, Tom belongs to the category of "laggards" as evidenced from his ignorance and unwillingness to accept technological advancements. The acceptance of a smartphone later, has been an outcome of requirement and not his own willingness here.  

4 0
4 years ago
An economy produces computer chips and fish. In 2014, one pound of fish costs $10, a computer chip costs $10, and the economy pr
vesna_86 [32]

Answer:

Real GDP (2014 price) = $ 250

Explanation:

GDP is the total value (PxQ) of goods & services, produced by an economy during a period of time. Real GDP is the value at constant base year prices.

Given [2015] : Fish Quantity =  5 , Computer Chip Quantity =  20

Base Year [2014] price : Fish = $10 , Computer Chip = $10

2015 Real GDP at 2014 base year price = Price 2014 x Quantity 2015

= (Fish PXQ) + (Computer Chip PXQ)

= (10 x 5) + (10 x 20)

= 50 + 200

= $ 250

3 0
3 years ago
There are four basic solutions to handling monopolies:
Brut [27]

Answer:

See the explanation for the answers.

Explanation:

1. "Regulate it" is superior because anti trust makes it open to competition and the firm no longer remains a monopoly.

2. A regulated monopoly lower the price it charges from consumers which benefits the consumers because their consumer surplus increases. A regulated monopoly also offers better quality products.

3. Yes, there are redeeming qualities of monopolies.

Advantages of monopoly-

(a) The profits that the monopolist earns can be invested in R and D.

(b) Monopolies can practice price discrimination which can benefit weaker sections of the society.

(c) Monopolies can invest in latest technology which increases productivity and total output of a country.

(d) The government generates revenue from taxing the monopoly firm.

3 0
3 years ago
Net exports are negative when: A) a nation's imports exceed its exports. B) the economy's stock of capital goods is declining. C
puteri [66]
I think it’s d chose d and let me know!!
8 0
3 years ago
Other questions:
  • Many major designers are using metallic studs and spikes in their latest collections. What does this signify to a fashion foreca
    10·2 answers
  • One of the advantages of information systems for businesses is to take raw data and turn it into information, and then transform
    9·1 answer
  • If a plant is operating at full capacity and receives a one-time opportunity to accept an order at a special price below its usu
    15·2 answers
  • I will cash app any money you need.
    15·1 answer
  • Elaine is a secretary for a business. One day a customer comes in to file a new contract while Elaine is seated at her boss’s de
    9·1 answer
  • The most attractive way to reduce or eliminate the impact of paying tarriffs on pairs imported to a companys distribution wareho
    11·1 answer
  • Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,600. Budgeted cash rec
    6·1 answer
  • At the beginning of 2021, VHF Industries acquired a machine with a fair value of $4,803,660 by issuing a three-year, noninterest
    5·1 answer
  • Your friend Lucia enjoys taking a leadership role when working with her peers on group assignments. She is very skilled at makin
    7·1 answer
  • The purpose of a situation analysis is to evaluate a firm's ________.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!