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3 years ago

How do businesses use the competency "Engaging Communication" to solve problems?

1 answer:

8 0

If you engage in conversation or to communicate this will help solve problems because your communicating if that makes sense

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Bramble Family Importers sold goods to Tung Decorators for $39,000 on November 1, 2020, accepting Tung’s $39,000, 6-month, 6% no

Aliun [14]

Answer:

note receivable 39,000 debit

sales revenue 39,000 credit

--Nov 1st to record sale of goods to Tung Decorators --

interest receivalbe 390 debit

interest revenue 390 credit

--Dec 31th adjusitng entry for accrued interest --

cash 40,170 debit

note receivable 39,000 credit

interest receivable 390 credit

interest revenue 780 credit

--May 1st collection of the note--

Explanation:

First, we record the sales revenue and we enter the promissory note at his nominal. Interest will be accrued as the time past.

interest for the period Nov 1st - Dec 31th

prncipal x rate x time

we must always have rate adn time in the same metric so we express the mont has fraction of year:

39,000 x 6% x 2/12 = 390

collection of the note

cash procceds: principal + interest

39,000 x (1 + 6% x 6/12) = 40,170

we write off both receivables, the note and the interest,

and we recognize interest revenue for the difference

40,170 - 39,000 - 390 = 780

6 0

3 years ago

The following information pertains to Sooner Company's cash balance and bank reconciliation as of August 31: Company balance bef

MAXImum [283]

Answer: The correct cash balance for Sooner Company is "(C) $7,150."

Explanation: The balance of the company before the settlement was $ 5000. The data to take into account to adjust the differences are:

Notes collected by the bank $ 2,200

Service fee $ 50

Therefore: 5000 + 2200 - 50 = $7150

6 0

3 years ago

Caleb purchased his first home for $420,000. He made a 10% down payment and financed the remaining purchase price. The terms of

Genrish500 [490]

Answer:

In 269th Payment the principal component is greater than half of the payment

Explanation:

Amortization schedule is attached please find it.

The loan payment includes the interest and principal portion. After deducting the interest on the due balance the residual amount is paid towards the principal.

Loan is paid per month, the amount of each payment can be calculated as follow:

Loan Payment per month = r ( PV ) / 1 - ( 1 + r )^-n

r = rate per period = 9% per year = 0.75% per month

n = number months = 30 years x 12 months per year = 360 Months

PV = present value of all payments = $420,000

P = payment per month = ?

P = 0.75% ( $420,000 x 90% ) / 1 - ( 1 + 0.75% )^-360

P = $3,041.47 per month

Download xlsx

3 0

3 years ago

why do small-business owners want to determine whether their companies meet the standards for small-business designation? becaus

FrozenT [24]

The small-business owners want to determine whether their companies meet the standards for small-business designation because the government agencies offer benefits designed to help small businesses compete with larger firms.

<h3>Why small business is important?</h3>

A privately held corporation, partnership, or sole proprietorship that employs fewer people and has a lower yearly income than a corporation or regular-sized business is referred to as a small business. Hence by keeping the money close to home and assisting local communities and neighborhoods, they boost local economies.

Small enterprises ensure that local communities pay more in taxes and that the money stays in the community by raising the level of taxation. Additionally, it lowers poverty levels as more people start their own businesses and more people get jobs.

To learn more about small-business, visit:

brainly.com/question/28289155

#SPJ4

7 0

1 year ago

1. When you spend more than you make, you have a(n) _____?

Y_Kistochka [10]

I think the correct answer from the choices listed above is option A. When you spend more than you make, you have a deficit. In economics, a deficit is an excess of expenditures over revenue in a given time period. Hope this answers the question. Have a nice day.

7 0

3 years ago

Read 2 more answers