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Ugo [173]
2 years ago
11

On July 1, 2008, Blitzer Inc. signed a one-year, 6% interest-bearing note payable for $5,000. Blitzer Inc. has a December 31 yea

rend. The amount of interest expense that should be reported in the 2008 income statement for this note (rounded to the nearest dollar) would be
Business
1 answer:
marishachu [46]2 years ago
5 0

Answer:

interest expense = $150

Explanation:

the journal entry to record accrued interest:

December 31, 2018, accrued interest from note payable

Dr Interest expense 150

    Cr Interest payable 150

interest expense = principal x interest rate x time = $5,000 x 6% x 6/12 = $150

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A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has a(n) ________ poli
UkoKoshka [18]

Answer:

The correct answer that fills the gap is Pulling.

Explanation:

This activity corresponds to Inbound Marketing, which is also called Attraction Marketing 2.0. This type of marketing is a marketing technique that aims to attract potential customers (prospects) through information of interest using different content formats (articles, videos, animations, infographics, ebooks, etc.) in the channels of digital communication of the company (blog, social networks, electronic newsletters, etc.). Attraction Marketing, instead of focusing directly on sales, as does more traditional marketing (sometimes known as interruption marketing), focuses on providing information to the potential consumer, so that it takes that company by an expert in the theme.

6 0
3 years ago
On January 1, 2018,Gillock Climbing Academy instituted a defined benefit pension plan for its employees. The annual service cost
Ivan

Answer:

Find the answer below in explanation

Explanation:

Gillock Climbing Academy Pension Expense for the year 2019 will be recorded as

Service cost ............................................. 600,000.00

Interest (600000 × 10%)................................60,000.00

plan assets (40000 from 2018 + 32000 interest + 400000 made in current year)............... 832000

Expected return Interest on plan asset (832000*8%) ........................................ 66,560.00

Pension Expense for the year ended December 31, 2019 = 600000 -  (66,560.00 - 60000)

= 600,000−6,560

= $593,440.00

3 0
3 years ago
Mr. Fitzgerald is selling his home to permanently move into a retirement facility near his daughter in a neighboring state befor
AysviL [449]

"Mr. Fitzgerald is selling his home to permanently move into a retirement" He must be automatically dropped from the plan because he is relocating outside of the service region. He will be able to choose a new plan during a special election term. This is further explained below.

<h3>What is prescription drug plan?</h3>

Generally, Prescription drug plans (PDPs) are another name for Medicare Part D. These policies are available on their own from private insurance providers.

In conclusion, He must be automatically dropped from the plan because he is relocating outside of the service region. He will be able to choose a new plan during a special election term.

Read more about prescription drug plan

brainly.com/question/14176332

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6 0
1 year ago
Swifty Corporation reported net income of $203000 for the year. During the year, accounts receivable increased by $15000, accoun
frosja888 [35]

Answer:

la respuesta es la a espero te ayude

7 0
2 years ago
Determine whether each scenario is an example of tax avoidance or tax evasion. Andrea keeps a record of all her business-related
Brums [2.3K]

Answer:

1. Tax avoidance

2.Tax avoidance

3.Tax evasion

Explanation:

Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.

Examples of tax avoidance are;

1. Andrea keeps a record of all her business related expenses.

2. Daniel claims the amount of interest paid for his mortgage as tax deductions.

Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.

Example of tax evasion is ;

3. Christian did not report the tips he earned on his tax return.

7 0
2 years ago
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