Roles of competition policy authorities in south Africa

Oriole Company has the following transactions related to notes receivable during the last 2 months of the year. The company does

NikAS [45]

Answer:

See explanation

Explanation:

Nov. 1 Notes receivable - C. Bohr Debit $52,200

Cash Credit $52,200

To record the loan provided to C. Bohr issuing a 7%, 12-month note.

Dec. 11 Notes receivable - K. R. Pine Debit $1,800

Sales revenue Credit $1,800

To record the sales revenue by issuing a 8%, 90-day note.

Dec. 16 Notes receivable - A. Murdock Debit $4,800

Accounts receivable - A. Murdock Credit $4,800

To record the settlement of an open account by issuing a 180-day, 10% note.

Dec. 31 Interest Receivable Debit $681 (Note - 1)

Interest Revenue Credit $681

To record the interest revenue accrued on December 31.

Calculation:

November 1 Interest from C. Bohr = $52,200 × 7% × (2÷12) = $609

December 11 Interest from K. R. Pine = $1,800 × 8% × (20÷90) = $32

December 16 Interest from A. Murdock = $4,800 × 10% × (15 ÷ 180) = $40

Total Interest = $681

5 0

3 years ago

Harvey is a self-employed accountant with earned income from the business of $120,000 (after the deduction for one-half of his s

Finger [1]

Answer:

The maximum amount Harvey can contribute to his retirement plan in 2019 is $30,000.

Explanation:

According to Keogh plan the maximum amount Harvey can contribute to his retirement plan in 2019 is 25% over the amount Harvey earned Or 53,000 Whichever is less.

Thus,

Harvey is a self-employed accountant with earned income from the business of $120,000 and its 25% is $30,000.

4 0

3 years ago

You will undoubtedly find yourself in numerous leadership situations during your professional career. accordingly, you should un

Ksenya-84 [330]

<span>B. Leadership skills at times are not too apparent in individuals and most times the best leaders are not egotistical. It is important that an organisation has the capacity to allow its employees to use more initiative, making them feel the shared vision of the organisation and giving them room to be creative. The best leaders will surface eventually and naturally in these environments and especially when doing team tasks, you will see the stand outs.</span>

3 0

3 years ago

A rapidly growing small firm does not have access to sufficient external financing to accommodate its planned growth. Discuss wh

monitta

Answer:

Alternatives :

1. Bank Overdraft facility

2.Suppliers Credit

Cost determination :

1. Bank Overdraft facility = Interest rate charged on the facility by the bank

2.Suppliers Credit = Opportunity cost of losing the early settlement discount.

Explanation:

If the company can not access sufficient external financing, consider internal sources such as bank overdraft or suppliers credit.

The cost of bank overdraft is evaluated based on the interest rate charged by the bank whilst the cost of the suppliers credit is determined by considering the opportunity cost of losing the cash discount available.

3 0

4 years ago

When businesses invest in domestic resources they

velikii [3]

The answer is c lol

4 0

3 years ago

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Roles of competition policy authorities in south Africa​

Roles of competition policy authorities in south Africa