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sp2606 [1]
3 years ago
5

If inflation is lower than what was expected,

Business
1 answer:
Black_prince [1.1K]3 years ago
3 0

I believe it’s A. Creditors receive a lower real interest rate than they had anticipated.

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On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjus
avanturin [10]

Answer:

Accrued Interest - $5,333.33

Explanation:

At the end of the year, due to the matching principle, expenses of the same period need to be matched with that period and 'expensed' in the same year.

In the scenario above there has been 4 months out of 9 used in the current year, hence as at December 31st. 4 months interest will be included in the current year and 5 months interest will be attributable to the following future.

4 months / 9 months * 6% * 200,000 = $5333.33

In consonance with the <em>accrual basis of accounting</em>, the amount of accrued interest that will be recorded with adjusting entries will be:

Dr Interest expense - 5,333.33

Cr    Accrued Interest -   5,333.33

7 0
4 years ago
Wassonâs Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows.
vaieri [72.5K]

Answer: 71%

Explanation:

The Budgeted material loading charge was 84% of material cost of $1,268,000.

Yet the actual loading cost was $164,840 which means that actual loading cost percentage is:

= 164,840 / 1,268,000 * 100%

= 13%

Profit margin = Budgeted percentage - Actual percentage

= 84% - 13%

= 71%

7 0
3 years ago
An implied warranty of _________________ is an inherent promise that the product sold conforms to ordinary standards and that it
Anton [14]

Answer:

The correct answer is letter "D": Merchantability.

Explanation:

An Implied Warranty is a type of grant provided by warranties stating the purpose of a product is fit to the purpose it was made for. This warranty can be provided written or verbally. The implied warranty of merchantability specifies that goods purchased must meet a standard of quality, value, and grade compared to other goods sold under the same circumstances.

The warranty of merchantability is supported by the Uniform Commercial Code (UCC) which is adopted by most states in the U.S.

8 0
4 years ago
During March, the production department of a process operations system completed and transferred to finished goods 25,000 units
stira [4]

Answer:

transferred-out units 135,000

Explanation:

During March

from the beginning inventory 25,000 were complete

also 110,000 units were started and complete

Total units transferred-out:

25,000 + 110,000 = 135,000

The percent of completion on complete units is always 100%

<u>We don't have to calculate any equivalent units. </u>

Also the ending inventory is not relevant, because we are asked for the transferred out and we are given with the complete units and the started and complete.

5 0
3 years ago
In​ Guadalajara, Mexico, Mercado LibertaddashSan Juan de Dios is a​ vast, crowded, bustling array of booths and vendors selling
Brums [2.3K]

Answer: C. a market

A market refers to place where buyers and sellers of various goods or commodities interact with each other in order to trade various goods, services and even contracts for money or for barter.

Buyers and sellers may interact with each either directly or through other intermediaries like dealers or retailers.

A market may be an actual physical place or a virtual market place.


6 0
4 years ago
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