Answer:
The Journal entry is as follows:
On December 31, 2021
Interest Receivable A/c Dr. $147
To Interest revenue A/c $147
(To record the interest receivable)
Working notes:
Interest Receivable:
= Amount received × Annual rate of interest × Time period
= $3,600 × (14% ÷ 12) × 3.5
= $3,600 × 0.01167 × 3.5
= $147
Answer:
A) . It is going to be a while before things get better in the United States.
Explanation:
In general, the people who have the power to select or approve the supplier are referred to as the "buyers". Most of the time, buyers want to go with a supplier who can offer the best product at the cheapest price.
Answer:
Her expectation that all her employees would adhere to the laws applicable to the business
Explanation:
By adhering to the laws applicable to her business, and expecting that her employees would follow suit, helped to protect the business from the liability related to breaching laws. Moreover, operating within the legal requirements serves as the first step towards operating as an ethical firm.
Answer:
<u>Production budget for October and November</u>
October November
cushions cushions
Budgeted Sales 13,000 15,000
Add Budgeted Closing Inventory 3,000 3,600
Total Production needed 16,000 18,600
Less Budgeted Opening Inventory (2,600) (3,000)
Production Budget 13,400 15,600
Explanation:
A Production Budget shows the quantities of finished goods that must be produced to meet <em>expected sales</em> <u>plus</u> any <em>increase in inventory</em> levels that might be required.
