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mote1985 [20]
2 years ago
7

On July 1, 2021, Ross-Livermore Industries issued nine-month notes in the amount of $400 million. Interest is payable at maturit

y. Required: Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
Business
1 answer:
Novay_Z [31]2 years ago
8 0

Answer:

accrued interest owed at the end of the year = $400 x interest rate x 6/12 months

the interest rate was not given, but we can assume that it was 5% just as an example:

total accrued interest expense = $400 x 5% x 6/12 = $10

the journal entry would be

December 31, 2021

Dr Interest expense 10 million

    Cr Interest payable 10 million

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Janice always makes the first offer during salary negotiations because that number will become the starting point for any furthe
Ira Lisetskai [31]

Answer:

b. anchoring and adjustment heuristic.

Explanation:

Anchoring and adjustment heuristic is a Psychological heuristic in which a person or individual influences others by suggesting a starting point. The other person will then rely on the first information offered and an anchor is then placed. The further judgment is made around that anchor which created a bias toward interpretation of information.  

Janice also used a strategy of anchoring and adjustment bias by giving first offer of salary. This will be considered as anchor which is placed and all the other negotiations will be around that salary anchor which will be used as starting point.

8 0
3 years ago
According to the text, there are four different aspects of a decision that a business should evaluate in order to___ maximize pr
inna [77]

Answer: Legal, public relation, safety risk, financial.

Explanation:

The above are different aspects of a decision in order to maximize profit and be a good corporate citizen.

Financial decision taking with respect to capital structure.

Legal- legal rights and responsibilities.

Safety risk assessment and mitigation of safety risk.

Public relation communication that are strategic that builds mutually beneficial relationships.

3 0
2 years ago
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, howe
forsale [732]

Answer:

Realistic aspect

Explanation:

Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.

This is because following Cosmo making his dream come true of buying the property that his restaurant occupies, the idea that he could rent out the storefront next to the restaurant for added income is a REALISTIC Aspect of Goal Getting.

This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan

7 0
2 years ago
In a push based system of distribution which relies on selling to customers through a sales force and retail partners, managers
Elanso [62]

Answer:

a) channel members.

Explanation:

A push-based distribution system can be defined as one whose production plan is directed from management to the market, where products are sent through a channel until they reach retailers, and then to the final consumer.

Therefore, managers direct their promotional efforts more towards channel members, so that the path that the product goes through to reach the final consumer is effective so that the product arrives in the right way, in the right quantity and at the right time to the consumer. Effective management of the company 's distribution channel helps to reduce costs, reduce delays, speed up the capacity to meet demand, increase customer satisfaction, etc.

6 0
2 years ago
Washburn Company produces earbuds. During the year, manufacturing overhead costs are estimated to be $216,000. Estimated machine
Snezhnost [94]

Answer:

1. Predetermined Overhead Rate = Manufacturing overhead costs  / Machine Hours

Predetermined Overhead Rate = $216,000/2,700 hours

Predetermined Overhead Rate = $80 per machine hour

2. Allocated overheads =Predetermined Overhead Rate * Machine hours used by Job 551

Allocated overheads = $80 * 90 machine hour

Allocated overheads = $7,200

3. Date     Description                             Debit     Credit

 15/01     Work In Progress Inventory    $7,200      

                   Manufacturing overhead                   $7,200

               (To record allocation of overheads towards Job 551)

5 0
3 years ago
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