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marusya05 [52]
3 years ago
15

On July 1, Shady Creek Resort borrowed $310,000 cash by signing a 10-year, 11% installment note requiring equal payments each Ju

ne 30 of $52,639. What amount of interest expense will be included in the first annual payment
Business
1 answer:
mafiozo [28]3 years ago
8 0

Answer:

$34,100

Explanation:

The interest on the installment note for the first year is a function of both the face value of the note and interest rate of 11%

Interest expense on the first annual payment=$310,000*11%

Interest expense on the first annual payment=$34,100

The amount principal repayment in respect of the  first annual payment is the amount of payment which is $52,639 minus the interest portion of the payment.

The Principal portion of the first payment=$52,639-$34,100=$18,539

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Petra Company uses standard costs for cost control and internal reporting. Fixed costs are budgeted at $36,000 per month at a no
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Answer: tough

Explanation:

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A decision to position the product on high-performance quality will mean that the ________. marketer must boost derived demand i
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<span>A decision to position the product on high-performance quality will mean that the seller must charge a higher price to cover higher costs.

When a company uses higher quality products to market their product as high-performance quality it means that the product will cost more to make and will sell for a higher price. The company has to cover all of their costs and one way to do that is to make sure their price point is set correctly. 
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3 0
3 years ago
An employee receives a phone call from someone saying they are from the bank. The person claims the purpose of the call is to ve
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If a person receives any call, messages or emails and verify online security information, including passwords and account numbers, it is known as phishing.

<h3>What does phishing mean?</h3>

Phishing refers to the social engineering attack that is often used to steal and get the user data which may includes login credentials, credit card numbers, OTP etc.

It is an online attacking activity when criminals use scam and fake emails, text messages or phone calls to steal the information about the people in order to hack their accounts.

Basically, phishing is a cyber crime.

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8 0
2 years ago
Purple Cab Company had 57,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 27,000
natima [27]

Answer:

$3.58

Explanation:

Calculation to determine the basic earnings per share (rounded)

Using this formula

Basic earnings per share=Net income/(shares of common stock outstanding+(shares of common stock*9/12)

Let plug in the formula

Basic earnings per share=$276,915/(57,000 + (27,000 × 9/12))

Basic earnings per share=$276,915/(57,000+20,250)

Basic earnings per share=$276,915/77,250

Basic earnings per share= $3.58

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Therefore Basic earnings per share is $3.58

6 0
3 years ago
You have stopped to park a vehicle equipped with an automatic transmission. the next step is to keep your foot on the brake peda
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You have stopped to park a vehicle equipped with an automatic transmission. the next step is to keep your foot on the brake pedal and set the parking brake.

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  • To make the brakes engage, press firmly on the pedal with your right foot (heel on the ground).
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Most parking brakes in cars only work on the back wheels, which have less traction while braking. The mechanism could be a foot-operated pedal next to the other pedals, a straight pull handle next to the steering column, or a hand-operated lever.

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4 0
1 year ago
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