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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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A weaker dollar benefits ---------- and hurts-----------
m_a_m_a [10]

Answer:

A weaker dollar benefits EXPORTERS and hurts IMPORTERS.

Explanation:

A weaker dollar means that the dollar depreciated against foreign currencies, meaning that you need more dollars to purchase foreign currencies. This results in higher prices for imported goods. On the other hand, a weaker dollar helps exporters because it lowers the price of US products sold to foreign countries. As exports grow and imports decrease, the dollar starts to appreciate again.

8 0
3 years ago
ash Flows from Investing Activities During the year, Murray Company sold equipment with a book value of $125,000 for $175,000 (o
NeTakaya

Answer:

Investing cash flow from current year = -$250,750. This means that the company invested $250,750 in purchasing new equipment and land during the year.

Explanation:

cash flow from investing activities = money received from the sale of assets - money spent purchasing new assets

  • money received from the sale of assets = $175,000
  • money spent purchasing new equipment = plant & equipment year 20x1 - plant & equipment year 20x2 + cost of old equipment = $1,000,000 - $1,025,000 + $225,000 = $200,000
  • money spent purchasing new land = land 20x2 - land 20x1 = $725,750 - $500,000 = $225,750  

Cash flow from investing activities = $175,000 - $200,000 - $225,750 = -$250,750

5 0
3 years ago
A(n) ________ specifically names the steps that the experimenter must use to control or measure the variables in the experiment.
Snezhnost [94]
<span>Operational Definition
</span>
5 0
3 years ago
Read 2 more answers
Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in the lake and is causin
Allisa [31]
This is an example of negative environmental impact of human activities. Nick's factory should be closed immediately. He is destroying a very important ecosystem for the community. 
8 0
3 years ago
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The tables show the annual incomes for the citizens in two countries, Melka and Sorare. Use this information to answer the quest
masya89 [10]

Answer: The nation of Sorare

Explanation:

The Gini coefficient is a statistical measure that is used to measure income disparity/ inequality in a country.

The closer to zero the Gini coefficient is, the more equitable the income in a country is. Simply put, if more people in a nation have similar levels of income, the Gini coefficient will be smaller.

In the question, the nation of Sorare has two people earning a high amount of money while others make considerably less. This shows a high income disparity which means that the Gini coefficient here will be higher than in Melka where citizens mostly have similar incomes.

4 0
3 years ago
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