Answer:
Dec. 1
Note Receivable : E. Kinder $16,000 (debit)
Cash $16,000 (credit)
Dec. 16
Note Receivable : J. Jones $4,800 (debit)
Sales $4,800 (credit)
Dec. 31
Note Receivable : E. Kinder $80 (debit)
Note Receivable : J. Jones $168 (debit)
Interest Income $248 (credit)
Explanation:
Interest accruing on E. Kinder`s Note Receivable = $16,000 × 6 % × 1/12 = $80.
Interest accruing on J. Jones`s Note Receivable = $4,800 × 7 % × 30/60= $168.
Answer:
Closing Inventory = $550000
Explanation:
The cost of the closing inventory at December 31 can be calculated by taking the trading part of the income statement where we calculate the cost of the goods sold. The cost of the goods sold is the cost associated with the sale of goods made during the year. The cost of the goods sold is calculated as follows,
Cost of Goods sold = Opening Inventory + Purchases - Closing Inventory
Plugging in the values of Cost of goods sold, opening inventory and purchases, we can calculate the closing inventory.
1025000 = 625000 + 950000 - Closing Inventory
Closing Inventory = 1575000 - 1025000
Closing Inventory = $550000
Answer:
"A" options is correct
Explanation:
Transnational organizations actually controls the world economy. These are the organizations that function in multiple countries and have assets and manufacturing plants in multiple countries. They controls the flow of money and they are biggest buyers and sellers in market like Unilever and Microsoft. They are giants that control economies of multiple countries. Because they are actually investing in multiple countries. so the flow of money in and out of that country is majorly controlled by these organizations.
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Answer: Theory X
Explanation: In simple words, theory X refers to the management style in which the manager assumes that his or her subordinates are inefficient and irresponsible workers who need strict disciplinary monitoring.
In such a management style, the managers oversee every step that their subordinates takes and do not give them authority to make decisions. Promotion and other such kinds of appraisals are completely dependent on tangible results.
This kind of management and leaderships style is usually used for employees who have less work experience and needs strict management guidance.