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Nastasia [14]
3 years ago
6

A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adj

usting entry for this company by completing the following sentence. The required adjusting entry would be to debit the Interest __________________ account and ___________________ the Interest ___________________ account.
Business
1 answer:
baherus [9]3 years ago
6 0

Answer:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

Explanation:

The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.

In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.

Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.

Therefore, we have:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

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Policy and standards often change as a result of business drivers. One such driver, known as ___________________, occurs when bu
serg [7]

Answer:

Business exceptions

Explanation:

Policy and standards often change as a result of business drivers. One such driver, known as business exceptions, occurs when business shifts and new systems or processes are incorporated.

3 0
3 years ago
You and Shawn met yesterday with the members of a cross-cultural leadership team from AGC’s subsidiaries to discuss a change in
blagie [28]

Answer:

Check the explanation

Explanation:

The human capital is the most crucial resource available to an organization because a motivated workforce has the ability to drive sales up to more than 100%. However, with its significance, human capital can prove fatal if it is disenchanted and demotivated because the fundamental customer service will be watered down (Carpenter, 2010). Therefore, being at the core of organizational success, it has apparently become the top priority for the human resource department at any organization.

AGC faces the setback as a result of its style of autocratic management since the top management in the organization does not carry the employees along in decision making and the decision of the leader is final. The organization has not implemented any form of strategy to expose the employees to new techniques method through education therefore there is no employee growth. The last problem would be lack of cultural awareness which has been due to lack of acknowledgment of the cultural diversity in the present business atmosphere which needs to be incorporated into the day to day activities of the organizational operations.

4 0
3 years ago
Which of the following is a disadvantage of partnerships compared to sole proprietorship
Vanyuwa [196]

Answer:

C.It is sometimes difficult for partners to agree on every business decision.

Explanation:

In partnerships, the company is owned by several people who held the status as 'Partners'. Everytime the company wants to make a decision, they need to ensure that the majority of these 'partners' agree on the decision. Often time, problem might occurs if the partners have different ideas on how the company should be operated.

In sole proprietorship, only one person held the position as the owner. This mean that the person has full authority in determining the type of decision that should be implemented for the business.

6 0
3 years ago
Carter's preferred stock pays a dividend of $1.40 per quarter. If the price of the stock is $69.00, what is its nominal (not eff
anygoal [31]

Answer:

Carter's preferred stock nominal annual expected rate of return is 8.12%.

Explanation:

Nominal annual expected rate of return of a preferred stock can be described as the current or unadjusted rate of return of the stock.

The nominal annual expected rate of return can be calculated as follows:

Nominal annual expected rate of return = Annual preferred stock dividend per share / Preferred stock price ............. (1)

Where;

Annual preferred stock dividend per share = Dividend per quarter * 4 = $1.40 * 4 = $5.60

Preferred stock price = $69.00

Substituting the values into equation (1), we have:

Nominal annual expected rate of return = $5.60 / $69.00 = 0.0812, or 8.12%

Therefore, Carter's preferred stock nominal annual expected rate of return is 8.12%.

3 0
3 years ago
Which of the following statements about the labor market is correct? A. The employment contract specifies the level of work effo
Rufina [12.5K]

Answer: <u><em>(A.)The employment contract specifies the level of work effort required from a worker.</em></u>

(<u><em>C.) The buyer in the labor market is a price setter.</em></u>

Explanation:

In a economy the employment contract specifies the level of work effort required from a worker. i.e. while hiring an employee for a position in a organisation, It is required to completely specify the level of work effort required from that worker.

Also, Firms interact with individuals, employing them, discharging them and promoting or cutting wages and hours. The relationship between the forces of supply and demand influences the hours the worker works and their compensation.

6 0
3 years ago
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