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
viktelen [127]
3 years ago
8

On December 1, 2021, Davenport Company sold merchandise to a customer for $20,000. In payment for the merchandise, the customer

signed a 6% note requiring the payment of interest and principal on March 1, 2022. How much interest revenue will the company recognize during 2021
Business
1 answer:
Arada [10]3 years ago
6 0

Answer:interest revenue the  company recognize during 2021 is $100

Explanation:

 Interest for  2021 = Principal x Rate x Time

= $20,000 X 6% x 1/ 12 ( From 1st t0 31st December is 1 Month)

=$100

Journal to record accrued interest by  Davenport Company

Date                          Accounts Titles                          Debit         Credit

Dec 31st, 2021               Interest Receivable               $100

                                   Interest Revenue                                         $100

Therefore, the interest revenue the company will  recognize during 2021 is $100.

You might be interested in
A residential property is greatly diminished in value because of the constant noise of jets taking off from a recently expanded
djverab [1.8K]

Answer:

A residential property is greatly diminished in value because of the constant noise of jets taking off from a recently expanded municipal airport. In order to be compensated for this loss, the owner could:

B.bring a suit alleging inverse condemnation

Explanation:

A law suit is a claim or legal problem taken to a court of law by an individual or organization rather than the authorities for a legal decision to be made. In the case above, the residential property diminished in value after constant noise of jets taking off from a recently expanded municipal airport. The loss in value is as a result of the recently expanded municipal airport and the property owner wants to be compensated for this loss.

In law, there are different terminologies and phrases that have specific meaning, some of them are as follows;

1. Inverse condemnation

Inverse condemnation is a case where a government entity takes private property or influences the value of that private property in one way or another then fails to compensate. In our case, this law suit can apply since the municipal airport is under the jurisdiction of the government and there action of expanding the airport caused a decline in value of neighboring residential property thus they should compensate the owner for this loss. The owner can bring a suit alleging inverse compensation.

3 0
3 years ago
Suppose Brazil has a comparative advantage in coffee production and Mexico has a comparative advantage in tomato production. If
lawyer [7]

Answer:

The correct answer is A. Brazilian tomato producers are worse off.

Explanation:

A country has a comparative advantage in producing a good and service if its opportunity cost of producing that good and service is lower than that of its trading partner. So it is better off for a country that has a lower opportunity cost in production a good or service to specialise in that good or service.

Brazil has a comparative advantage in coffee production, meaning, it is better off in specialising in the production of coffee and will be worse off if Brazil specialises in Tomato

Mexico has a comparative advantage is Tomato, meaning, she is better off in specialising in Tomato and worse off if she specialises in Coffee

6 0
3 years ago
During the year, Hamlet Inc. paid $22,000 to have bond certificates printed and engraved, paid $170,000 in legal fees, paid $9,0
xenn [34]

Answer:

$481,000

Explanation:

Bond issue costs are either direct or indirect costs:

  • direct costs include underwriting fees, listing fees, professional fees, compliance costs and other costs related to the IPO or APO (secondary issues), e.g printing costs
  • indirect costs include underpricing costs (IPO pricing is too low) and loss of proprietary information

Total bond issue costs = $22,000 + $170,000 + $9,000 + $280,000 = $481,000

5 0
3 years ago
How do corporate bonds affect the economy
zheka24 [161]

Answer:

Bonds affect the U.S. economy by determining interest rates, which affect the amount of liquidity and determines how easy or difficult it is to buy things on credit or take out loans for cars, houses, or education

<h2>Please mark me as brainliest</h2>

7 0
3 years ago
A _____ occurs when two or more transactions wait for each other to unlock data.
Zigmanuir [339]

Answer:

Condition of Deadlock

Explanation:

Deadlock is a condition or a situation which occurs or happens when there are multiple locks waiting to happen in such a way or a manner that none of the users could perform any work.

Therefore, the deadlock condition happens or occurs when 2 or more transactions are waiting for each other to unlock the data.

For example, The first and the second user, both of them lock some data, them each of them trying to access the each other data which is locked. So, both of them waiting for each other to unlock, this situation is deadlock.

7 0
3 years ago
Other questions:
  • In the filing of a consolidated tax return for a corporation and its wholly owned subsidiaries, intercompany dividends between t
    11·1 answer
  • List one big thing that you would like to buy. What short-term, mid-term, and long-term goals would you need in order to make th
    11·1 answer
  • In its first year of operations, Wildhorse Co. recognized $33,700 in service revenue, $7,800 of which was on account and still o
    15·1 answer
  • The following transactions of Houston Pharmacies occurred during 2017 and 2018:
    6·1 answer
  • Which of the following is NOT a good tip for driving at night? A . Beware of drowsiness B. Keep your eyes locked on the road ahe
    12·2 answers
  • Remsco has taxable income of $60,000 before considering charitable contributions. The $60,000 is net of a dividends received ded
    9·1 answer
  • Tradeoffs in cost involve examining the development of alternative designs, _________________ and the required industrial base c
    10·1 answer
  • In a small, closed economy, national income (GDP) is $350.00 million for the current month. Individuals have spent $100.00 milli
    15·1 answer
  • Ken just purchased new furniture for his house at a cost of $16,700. The loan calls for weekly payments for the next 6 years at
    11·1 answer
  • Which resources can help you learn more about specific careers? Check all that apply. CareerOneStop a personal assessment a pers
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!