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NARA [144]
2 years ago
12

The Pita Pit borrowed $198,000 on November 1, 2021, and signed a six-month note bearing interest at 12%. Principal and interest

are payable in full at maturity on May 1, 2022. In connection with this note, The Pita Pit should report interest expense at December 31, 2021, in the amount of: (Do not round your intermediate calculations.)
A. $0.
B. $3,960.
C. $11,880.
D. $23,760.
Business
1 answer:
pantera1 [17]2 years ago
5 0

Answer:

$3,960

Explanation:

The Borrowed amount is $198,000 on November 1, 2021.

The interest expense  at December 31, 2021 is calculated as shown below:

I=PRT

R=12%=0.12

P=$198,000

T=2 Months=(2/12) year

I=198,000*0.12*(2/12)

I=$3960

The correct option will be "B. $3,960."

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In the new department she is setting up, Shondra decides that top managers will report to her and that everyone else will report
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<h3>What is Organizing in management functions?</h3>

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2 years ago
One Chicago has just introduced a new single stock futures contract on the stock of Brandex, a company that currently pays no di
bekas [8.4K]

Answer:

A: $127.2

B: $123.384, $3.816 per share and $3,816 per contract

C: 9.43%

Explanation:

A: Futures price

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= $127.20

B: Change in Future Price and Investor Margin account:

New Spot = $120 (1 – 0.03)

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5 0
3 years ago
Alejandro was reprimanded for an accounting error by his boss in front of his co-workers. Alejandro gets home from his job and y
aev [14]

Answer:

displacement

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As in the given situation, the husband yells his wife and then wife yells her children so this represent that they use the defense mechanism i.e. displacement

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3 years ago
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3 years ago
Read 2 more answers
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