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
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should tak
torisob [31]

Answer:

Results are below.

Explanation:

Giving the following information:

Estimated direct labor hours= 135,000

Estimated varaible overhead= $337,500

Estimated fixed overhead= $540,000

<u>To calculate the predetermined overhead rate, we need to use the following formula:</u>

<u></u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

<u>Variable:</u>

Predetermined manufacturing overhead rate= 337,500/135,000= $2.5 per direct labor hour

<u>Fixed:</u>

Predetermined manufacturing overhead rate= 540,000/135,000= $4 per direct labor hour

3 0
2 years ago
Sweet Treats common stock is currently priced at $17.15 a share. The company just paid $1.22 per share as its annual dividend. T
ddd [48]

Answer:

cost of equity =  9.68%

so correct option is d. 9.68%

Explanation:

given data

currently priced = $17.15

paid annual dividend = $1.22

dividends increasing = 2.4% annually

to find out

firm's cost of equity

solution

we get here cost of equity by apply price equation that is express as

Price = recent dividend × ( 1 + growth rate ) ÷ ( cost of equity - growth rate)   .....................1

put here value we get

$17.15 = \frac{1.22*(1+0.024)}{cost\ of\ equity - 0.024}

solve it we get

cost of equity =  9.68%

so correct option is d. 9.68%

5 0
2 years ago
How is a bond like a loan
Ostrovityanka [42]
Well a bond is a government loan where they take ur money and pay u back with interest usually low interest tho
7 0
3 years ago
Janis starts a small quilting and embroidery business. She purchases a technologically advanced quilting machine and an embroide
QveST [7]

Answer:

B. Cash Flow problem

Explanation:

Cash flow problem occurs in a business when the business struggles to pay back debts. It happens when a business cannot longer cover its debt payments and operational expenses. It is very common in new and growing business, because during growth period in a business, expenses are larger than receivables.

Janis in this case is facing cash flow problems as she is not getting enough clients and receivables to pay back the expenses her equipment is bringing in. The major solution to cash flow problem for short term/temporary issues is Financing.

7 0
3 years ago
The process of approving the Constitution is best described as
nordsb [41]

The process of approving the Constitution is best described as Difficult

<h3>Further explanation </h3>

A constitution is fundamental principles set according to the nation or a state or an organization is acknowledged to be governed. Ratification is the process of approving the constitution . It is a principal's approval of an act of its agent that lacked the authority to bind the principal legally and it is where the constitution of a state is taken over the legislature for consideration through specially elected state conventions of the people

The process of ratification initiated by the congress It was happened by putting the constitution to the state legislatures for consideration through the use of the specially elected for the state of convection of the people. The process is involved a five-state convection, which voted to approve the constitution immediately.

The process of approving the constitution is best described as  difficult because the ones who came up with the constitution realizes that only in exceptional circumstances should it need to be amended. The constitution is best described as difficult because it will only open the doors for more repression by government

<h3>Learn more</h3>
  1. Learn more about ratification brainly.com/question/3281819

<h3>Answer details</h3>

Grade:  9

Subject:  

Chapter: ratification

Keywords:  ratification

7 0
2 years ago
Read 2 more answers
Other questions:
  • The biweekly taxable wages for the employees of rite shop follow. Compute the FICA taxes for each employee and the employers FIC
    10·1 answer
  • Ocean Breeze Co. paid $500 cash for expenses related to advertising for the period. Which of the following shows how this event
    6·1 answer
  • It is January 2nd. Senior management of Digby meets to determine their investment plan for the year. They decide to fully fund a
    13·1 answer
  • Assume you pay $24,000 today in exchange for an annuity with monthly payments, an APR of 6.75 percent, and a life of 15 years.Wh
    10·1 answer
  • Which variance deals with the amount that is paid to the work force making products for a​ company? A. Direct Materials Price va
    8·1 answer
  • The corporate website of a company is established with an intention to: a. provide a transaction gateway for goods and services.
    14·1 answer
  • Rashid is dissatisfied at work. He feels he is paid too little and asked to do too much. To compensate for his perceived unjust
    7·1 answer
  • Suppose the economy is self-regulating, the price level is 132, the quantity demanded of Real GDP is $4 trillion, the quantity s
    15·1 answer
  • Identify whether a debit or credit results in the indicated change for each of the following accounts.
    7·1 answer
  • What is the financial impact on a company when a customer returns a product for a refund?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!