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Vlada [557]
3 years ago
11

Pina Colada Corp. lends Sheffield industries $56400 on August 1, 2022, accepting a 9-month, 6% interest note. If Pina Colada Cor

p. prepares its financial statements as of December 31, 2022, what adjusting entry must it make?
Business
1 answer:
SOVA2 [1]3 years ago
3 0

Answer:

31 December 2022    Interest Receivable     $1410 Dr

                                        Interest Revenue          $1410 Cr

Explanation:

The adjusting entry made on 31 December will record the interest revenue that relates to this year from August to December following the accrual principle. The interest revenue for these 5 months is 56400 * 0.06 * 5/12 = $ 1410

The interest is not received now as it will be received on note's maturity. Thus, we will debit the interest receivable account which is an asset.

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The Assembly Department shows the following information: Beginning Work in Process Ending Work in Process Units Transferred Out
Margarita [4]

Answer:

a) 75600.

Explanation:

Given;

Beginning Work in Process =  19900  

Ending Work in Process = 65300

Units Transferred Out Units = 30200

Total units are to be accounted=  x

19900 - 30200 + x = 65300

x = 65300 - 19900 + 30200

x = 75,600

4 0
3 years ago
The intermediate goods are not counted in the calculation of GDP, because: * 2 points A. that involves double-counting. B. these
7nadin3 [17]

Answer:

A. that involves double-counting.

Explanation:

Imagine a company that produces furniture. If we would include the wood, the nails, the wood paint, etc., were included in the calculation plus the furniture itself, you would be double-counting the cost of the manufactured furniture. If you consider waste materials, then you would be adding even more costs. That is why you only consider finished goods.

6 0
3 years ago
When Jim Poss bought used kitchen trash compactors to tinker with and then tried some reverse engineering to test the feasibilit
Aleonysh [2.5K]

Answer:

The correct answer is a.

Explanation:

Innovators are characterized by continuously trying out new experiences and implementing ideas that do not exist. They tend to visit new places, try new things, seek new information and experiment to learn new things. In these ways, they can broaden the diversity of their knowledge and increase their ability to innovate.

Have a nice day!

8 0
3 years ago
Suppose you deposited $5,000 in a bank account that pays 5.25% with daily compounding based on a 360-day year. How much would be
sleet_krkn [62]

Answer:

$5,175

Explanation:

The computation of the amount after 8 month is as follows

As we know that

Amount = Principal × (1 + interest rate × number of days ÷ total number of days)

where,

Principal = $5,000

Interest rate = 5.25%

Number of days = 30 days × 8 months = 240 days

And, the total number of days = 360 days

So, the amount after 8 months is

= $5,000 × (1 + 5.25% × 240 days ÷ 360 days)

= $5,000 × 1.035

= $5,175

8 0
4 years ago
"When organizing a meeting agenda, why is it a good idea to discuss old business before introducing new business?"
AleksAgata [21]

Answer:

c. It makes sense to complete discussion and reach decisions about old business before tackling new business.

Explanation:

For organizing a meeting agenda first we have to discuss for the old business as it gives the whole picture of the business i.e it is profitable or not that results in increase in sales of the company that reflected completed discussion.

Moreover, the organization also knows how to operates the day to day activities that are related to the functions of management

So it always it is better to make decisions for old business before tackling the new business

8 0
4 years ago
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