Answer:
$5,760
Explanation:
Calculation to determine How much interest revenue should Jaffe record from the lease for the year ended December 31, Year 4
First step is to calculate the carrying amount
carrying amount=$67,600-$10,000
carrying amount of $57,600
Now let calculate the interest revenue
Interest revenue =$57,600*10%
Interest revenue=$5,760
Therefore How much interest revenue should Jaffe record from the lease for the year ended December 31, Year 4 is $5,760
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Answer:
0.07925 or 7.925%
Explanation:
Given that,
Revenues = $88,000
Expenses = $54,000
Assets at the beginning of the year = $404,000
End of the year assets = $454,000
Net income:
= Revenues - Expenses
= $88,000 - $54,000
= $34,000
Average total assets:
= (Assets at the beginning + End of the year assets) ÷ 2
= ($404,000 + $454,000) ÷ 2
= $429,000
Return on assets:
= Net income ÷ Average total assets
= $34,000 ÷ $429,000
= 0.07925 or 7.925%
Answer:
D) They had a unilateral, express agreement.
Explanation:
In a unilateral contract, the offeror makes an express promise without a reciprocal agreement from another party. The offeror's express promise of payment requires that the other party performs.
In this case, professor Debby made an express promise to pay $50 to anyone that mowed her yard, and Max performed the yard mowing, therefore he is entitled to payment.
<span>What condition is necessary for a fiat money system to work? The government must control the money supply. Fiat money is not physical money like bills or coins, fiat money solely exists because if supply and demand of a good or service. This is a currency that the government has declared legal but it is not backed by any physical commodity. Due to that, the government has to be in control of the money supply for the fiat system to work. </span>