July 1, 2021: Cash 48,000; Notes Payable (First National Bank) 48,000
Nov. 1, 2021: Cash 57,600; Notes Payable (Interprovincial Bank) 57,600
Dec. 31, 2021: Interest Expense 2,400; Interest Payable (First National Bank) 2,400
Feb. 1, 2022: Notes Payable (Interprovincial Bank) 57,600; Cash 57,600
Apr. 1, 2022: Notes Payable (First National Bank) 48,000; Interest Payable (First National Bank) 1,920; Cash 49,920
Here are the journal entries for the transactions you have provided:
Date Account Titles and Debit Credit
July 1, 2021 Cash 48,000 Notes Payable 48,000 (Borrowed cash and signed a note payable.)
Nov. Cash 57,600 Notes Payable 57,600 (Borrowed cash and signed a note payable.)
Dec. 31, 2021 Interest Expense 2,880 Interest Payable 2,880 (Accrued interest expense.)
Feb. 1, 2022 Interest Payable 1,440 Cash 1,440 (Paid interest on note payable.)
Apr. 1, 2022 Notes Payable 48,000 Interest Payable 10,080 Cash 58,080 (Paid note and interest owing.)
Please note that the interest expense is calculated as follows:
Interest expense = Principal amount * Interest rate * Time
= $48,000 * 8% * 9/12
= $2,880
The interest payable on February 1, 2022 is calculated as follows:
Interest payable = Principal amount * Interest rate * Time
= $57,600 * 6% * 3/12
= $1,440
The interest payable on April 1, 2022 is calculated as follows:
Interest payable = Principal amount * Interest rate * Time
= $48,000 * 8% * 4/12
= $10,080
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QUESTION 1: 1.1 Conduct research in your community on the negative impact of strikes as a socio-economic issue on businesses and present your findings.
Strikes can have several detrimental effects on businesses and the broader economy.
Firstly, they disrupt normal operations and can lead to decreased productivity and output. The interruption of services or production can result in financial losses for businesses, especially if the strike is prolonged or affects essential sectors such as transportation or healthcare.
Additionally, strikes can damage a company's reputation, leading to a loss of customer trust and potential long-term revenue decline. The uncertainty caused by strikes can also deter potential investors, further impacting economic growth.
Small and medium-sized enterprises (SMEs) often bear a heavier burden during strikes as they may lack the resources or flexibility to absorb the financial losses or quickly recover from the disruptions.
Moreover, strikes can have a ripple effect throughout the supply chain, affecting suppliers, distributors, and other related businesses. This interconnectedness can exacerbate the negative socio-economic impact, resulting in job losses, reduced consumer spending, and overall economic instability.
It's important to note that while strikes can have adverse effects on businesses, they are often a result of underlying labor issues and grievances.
Addressing these concerns through dialogue, negotiation, and fair labor practices can help minimize the frequency and intensity of strikes, promoting a more stable socio-economic environment for both businesses and workers.
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The primary type of loan made by a savings and loan association is the long-term installment loan used for the purchase of a home.
The primary type of loan made by a savings and loan association is the long-term installment loan used for the purchase of a home.
Savings and loan associations (S&Ls) generally offer long-term installment loans, particularly for buying a house. Mortgages are the primary type of loan made by savings and loan associations. S&Ls provide consumers with funds to buy a house by issuing mortgage loans, which are typically paid back over a period of 15 to 30 years in monthly installments.
The vast majority of S&Ls are also state-chartered. They are required to comply with both state and federal regulations, which include reserve requirements and lending limits. A savings and loan association is a kind of financial institution that primarily provides home mortgages and other forms of home financing.
They get their funding by taking deposits from their customers, who are in turn paid interest on their deposits. S&Ls are heavily regulated by state and federal authorities in the United States. These associations are usually a great source of long-term financing for homebuyers.
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Logo and website design are
examples of start-up costs.
True: Logo and website design are examples of start-up costs. Operating costs include payroll. Building improvements should be calculated into start-up costs.
how do surface features typically evolve, and how can a forecaster assume that these features won't change?
Surface features can evolve over time due to a variety of factors such as weather patterns, erosion, and human activity.
Weather refers to the state of the atmosphere at a particular place and time, including temperature, humidity, wind, precipitation, and atmospheric pressure. It is influenced by various factors, including air masses, ocean currents, and topography, and can change rapidly due to short-term weather phenomena such as thunderstorms and tornadoes.
However, forecasters can make assumptions about the stability of these features based on their observations and understanding of the environment. For example, if a forecaster observes a rock formation that has remained unchanged for decades, they may assume that it is stable and unlikely to change significantly in the near future. Similarly, if a forecaster sees a river that has been flowing consistently in the same direction for years, they may assume that it will continue to do so unless there is a significant change in the surrounding terrain or weather patterns. However, it's important to note that these assumptions are not foolproof and forecasters must remain vigilant and update their predictions if they observe any significant changes in surface features.
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With only a part-time job and the need for a professional wardrobe, Rachel quickly maxed out her credit card the summer after graduation. With her first full-time paycheck in August, she vowed to pay $240 each month toward paying down her $8,000 outstanding balance and to not use the card. The card has an annual interest rate of 18 percent. How long will it take Rachel to pay for her wardrobe? Should she shop for a new card? Why or why not?
If you use excel to get the sewer and show me how you did it. Thanks.
If you can answer this with excel and if you can show how you did it. Thanks
To calculate how long it will take Rachel to pay off her credit card balance, we can use Excel to create a repayment schedule. Here's how you can do it:
1. Open Excel and create a new spreadsheet.
2. In cell A1, enter "Month" as the column header.
3. In cell B1, enter "Outstanding Balance" as the column header.
4. In cell C1, enter "Payment" as the column header.
5. In cell D1, enter "Interest" as the column header.
6. In cell E1, enter "New Balance" as the column header.
7. In cell A2, enter "1" to represent the first month.
8. In cell B2, enter the initial outstanding balance of $8,000.
9. In cell C2, enter "-$240" to represent the monthly payment.
10. In cell D2, enter "=B2*(18%/12)" to calculate the monthly interest.
11. In cell E2, enter "=B2+C2+D2" to calculate the new balance after payment and interest.
12. Select cells A2 to E2 and drag the fill handle down to extend the formulas to the desired number of months.
13. Locate the first row where the outstanding balance becomes zero (or close to zero but positive). The month corresponding to that row will give you the number of months it takes for Rachel to pay off her credit card balance.
To decide if Rachel should shop for a new card, we need to consider the interest rate and any benefits associated with a new card. If she can find a new card with a lower interest rate, it may be beneficial to transfer the balance to the new card.
However, she should also consider any fees associated with balance transfers and if the new card offers any additional benefits or rewards. It's important to compare the terms and conditions of different cards and calculate the potential savings before making a decision.
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why is current value and replacement cost not the same?
nal Accounts Section Sales Cost of sales Rent income Interest on fixed deposit Directors' fees Salaries and wages Bad debts Audit fees Bank (ts) Advertising Consumable stores A. Sundry expenses Ordinary share dividends ADJUSTMENTS AND ADDITIONAL INFORMATION: 750 000 15 450 000 1 230 000 1315 150 24 000 147 600 975 000 80 800 560 000 368 20 Selling prices are determined by using a mark-up of 40% on cost Note: Trade discounts of R130 000 were allowed to special customers the financial year. in me paffo Sales. How are sales calculated
The overall sales for the fiscal year are 21,500,000, according to the information provided.
What is the fiscal year?A fiscal year is a 12-month period used by businesses and governments for financial reporting and budgeting purposes. It does not necessarily coincide with the calendar year and can start on any date. The fiscal year is used to report financial results and tax obligations to the government, and it is important to follow it accurately to ensure that all financial reporting is consistent and accurate.
Based on the information provided, the total sales can be calculated as follows:
The total cost of sales = 15,450,000
Markup on cost = 40%
Total markup = 40% of 15,450,000
= 6,180,000
The total cost of goods sold (COGS) = Total cost of sales + Total markup
= 15,450,000 + 6,180,000
= 21,630,000
To calculate the total sales, we need to subtract any discounts given to customers from the COGS:
Total sales = Total cost of goods sold - Trade discounts
= 21,630,000 - 130,000
= 21,500,000
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If a person has $1,000 in a savings account and earns $20 a year in interest on that account, the rate of return on the money is close to
Answer:
2%
Explanation:
1. Which of the following is the term for the overall impression gathered from information
that is seen, heard and experienced by customers who encounter a business, its products
and services?
A. Brand promise
B. Positive feeling
C. Company culture
D. Company brand
The answer is D company brand
Company brand is the term for the overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and services. Hence, option D is correct.
What is a Company brand?The brand of a firm serves as its identity and is one of the most valuable aspects of the enterprise. Consumers recognize brands, and rivals are wary of them. The marketing of a company's products must include strong company branding.
Despite the fact that brands are typically immaterial, we frequently connect them to things like products and names. Apple, Nike, Coca-Cola, Advil, and Tylenol are a few examples.
A firm is made up of workers who cooperate to accomplish a common objective. A brand, which is the personality of the company, is represented through specific aspects of the goods that a company makes. For instance, an apple may serve as the company's logo, mascot, and social media icon for an apple packaging company.
Thus, option D is correct.
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I was trying to make the points to 200 but this is all i can do here first gets brainliest
Answer:
Thanks
Explanation:
I like ice cream :D
Answer:
thank you
Explanation:
thank you
reid incorporated received a $90,000 cash payment, of which only $50,000 was taxable income. if reid's marginal tax rate is 40%, compute reid's after-tax cash flow. multiple choice $54,000 $50,000 $30,000 none of these choices are correct.
Reid's cash flow was $70,000 after taxes ($90,000 in pre-tax cash minus $20,000 in tax on $50,000 in income).
The correct answer is none of these
Who Pays Taxes?Taxes are mandatory payments that citizens or corporations must make to their local, state, or federal government. Tax revenue is used to pay for public projects and programs like Medicare and Social Security as well as infrastructure like roads and schools.
What does it mean to be an excise tax?In the United States, the word "excise" has at least two different meanings: (A) anything tax other than a property tax and capitation (i.e., an excise is indeed an indirect tax in the sense of constitutional law); or (B) a tax that is simply referred to as an excise.
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10. Which type of utility do you believe has the greatest impact on price? Explain
Answer: Place utility
Explanation:
The type of utility that is believed to have the greatest impact on price is the place utility. Place utility simomy means making of goods available to the customers when they're needed.
The place or location where customers but their products is vital to customers as they put values on products based on the place utility. This can be seen as companies make sure that their products are easily accessible to their customers.
Bart, Sam, and Greg create Big Barns Sales LLC, a company that builds pre-constructed barns. They file the certificate of organization with the secretary of state and create an operating agreement for the LLC. The operating agreement, however, does not address the method by which the LLC will be managed. Because management of the LLC is not addressed in the operating agreement, it is assumed the LLC will be:
The assumption is that the LLC will be member-managed; all members will vote on LLC decisions, and the majority vote will be decisive because administration of the LLC is not addressed in the operating agreement.
A Limited Liability Company (LLC) Operating Agreement is an important document that outlines the company's financial and operating decisions, as well as its rules, laws, and requirements. The purpose of this document is to regulate the internal workings of the company in order to meet the specific needs of its owners, called "members". Members of the limited liability company are legally bound by the terms of the document upon signing.
Only her three states, California, Missouri and New York, have laws requiring an operating agreement. LLCs operating without an operating agreement are governed by standard state codes established by state court decisions and contained in applicable law. Operating contracts perform similar duties as in company law or are equivalent to partnership contracts in the case of several GmbHs.
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Marketing channel management is also called ____________. Retailing supply chain management promotion Manufacturing wholesaling References Multiple ChoiceLearning Objective: 15-02 Understand the difference between direct and indirect marketing channels. Difficulty: 2 MediumLearning Objective: 15-03 Describe how marketing channels are managed. 12. Value: 0.65 points In supply chain management, Icebreaker's long-term partnerships with the farmers who grow wool are called ______ relationships. Administered supply chain strategic channel system Corporate References Multiple ChoiceLearning Objective: 15-02 Understand the difference between direct and indirect marketing channels. Difficulty: 2 MediumLearning Objective: 15-03 Describe how marketing channels are managed. 13. Value: 0.65 points Icebreaker uses contracts to better coordinate its relationship with wool suppliers. In doing this Icebreaker has established a(n) ______. conventional marketing channel vertical marketing system Franchise distribution center independent marketing channel References Multiple ChoiceLearning Objective: 15-02 Understand the difference between direct and indirect marketing channels. Difficulty: 2 MediumLearning Objective: 15-03 Describe how marketing channels are managed. 14. Value: 0.65 points Using intermediaries such as distribution centers and retailers represents which type of channel design? Franchise Direct marketing channel Indirect marketing channel Distribution center Horizontal system References Multiple ChoiceLearning Objective: 15-02 Understand the difference between direct and indirect marketing channels. Difficulty: 2 MediumLearning Objective: 15-03 Describe how marketing channels are managed. 15. Value: 0.65 points By opening its own retail outlets, Icebreaker has established a(n) __________ VMS. horizontal Administered franchise Contractual corporate References Multiple ChoiceLearning Objective: 15-02 Understand the difference between direct and indirect marketing channels. Difficulty: 2 MediumLearning Objective: 15-03 Describe how marketing channels are managed. 16. Value: 0.77 points What is required to maintain the long-term success of Icebreaker's supply chain partnerships? Mutual trust Interdependence All of these are required Open communication Common goals
Marketing channel management is also called option B: supply chain management.
In supply chain management, Icebreaker's long-term partnerships with the farmers who grow wool are called strategic relationships.
Icebreaker uses contracts to better coordinate its relationship with wool suppliers. In doing this Icebreaker has established a(n) vertical marketing system.
Using intermediaries such as distribution centers and retailers represents Indirect marketing channel type of channel design?
By opening its own retail outlets, Icebreaker has established a(n) corporate VMS.
The things that are required to maintain the long-term success of Icebreaker's supply chain partnerships are option B: All of these are required; They are:
InterdependenceOpen communicationCommon goalsMutual trustWhat is marketing channels and supply chain management?In order to maximize the flow of goods, supply chain management incorporates a variety of internally oriented financial and efficiency goals. Marketing channels place a high emphasis on a market view of customer expectations and market competition.
To provide chain management has to meets customer expectations for service standards while reducing system-wide expenses. Supply chain management is another name for marketing channel management.
Therefore, In order to efficiently and successfully connect suppliers, manufacturers, warehouses, retail outlets, and transportation middlemen into a seamless operation where merchandise is manufactured and distributed at the proper quantity, location, and timing
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Who plans, coordinates, and controls a project's progress, or a portion thereof? Group of answer choices Architect Civil engineer Project manager The funding bank
Answer:
Project manager
Explanation:
The project manager is a person who holds a manager position in an organization. His or her duty is to do the planning, coordinates, communicates with the team members, employees regarding the work and also controls the progress of the project. He or she should well aware of how much project is pending and how much it is completed
Hence, the correct option is third.
highlight characteristics of itinerant traders
3. Kevin took out a loan for a car. He must pay $3,000.00 in interest, service
charges, and loan fees. What lending term best describes these costs?
Answer:
The finance charge
Explanation:
The finance charge is the total cost incurred when borrowing money, including interest amount and all other fees. It is the extra money paid on top of the borrowed amount. The finance charge may be a flat fee or a percentage of the principal amount.
The finance charge represents the expense incurred for using credit. The finance charge is an important consideration when choosing a preferred lender.
Which type of business does not hold owners accountable for the debts of
the business?
OA. Sole proprietorship
OB. LLC
OC. Partnership
A
OD. Private company
Answer:
Limited Liability Company (LLC)
Explanation:
A limited Liability Company (LLC) is a business structure in the United States that protects its owners from the personal responsibility for its repayment of debts and liabilities. It is a hybrid entity that has the characteristics of a corporation, partnership and sole proprietorship. The regulation of LLC's varies from one state to another. An entity or individual can be a member of an LLC with notable exceptions from banks and insurance companies. The primary reason for registering a business under LLC is to limit the personal liability of the owners as well as the partners. LLC may have some attractive features but they also possess some great disadvantages as well. Depending upon the state law, an LLC may be dissolved upon the death or bankruptcy of a member.
Why would a business choose to be a private limited company?
Answer:
Stability due to Limited Liability: Private Limited Company has this feature of limited financial liability of all the shareholders. The liabilities are limited to their shares only. This feature protects the personal assets and income of shareholders at times of any financial crisis faced by the company.
cos of the limited liability of it's share holders.
easier to maintain
it's flexible Management structure
easier to raise capital
it's protection from creditors
HELP
State the minimum monthly income and hourly wage per worker needed to cover monthly expenses for the family you used in part a. Then explain how to calculate the hourly wage based on the monthly income and state the hourly wage. Assume that each full-time worker works four 40-hour work weeks per month, and each part-time worker works two 40-hour weeks per month.
chart:
Housing = $938
Food = $598
Child Care = $769
Transportation = $1,042
Health Care = $699
Other Necessities = $620
Taxes = $741
Answer:
Full-time worker minimum monthly income = US$ 7,846.40, Part-time worker minimum monthly income = US$ 7,846.40, Full-time worker hourly wage = US$ 49.04
Explanation:
18. Would you expect, in some cases, to see only an income effect or only a substitution effect? Explain.19. Which is larger, the income effect or the substitution effect
5 role of development banks in economic development
The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. ... Thus, the banks play an important role in the creation of new capital (or capital formation) in a country and thus help the growth process.
Explain a situation where user would transpose data on a spreadsheet in Microsoft Excel. Give at least one example to illustrate your reasoning. Use details to support your answer.
Answer:
below
Explanation:
function must be entered as an array formula in a range that has the same number of rows and columns, respectively, as the source range has columns and row
A CVS/pharmacy store is an example of a ________ business. Group of answer choices national multinational local regional boutique
Answer:
A CVS/pharmacy store is an example of a national business.
Explanation:
Sheep keds were introduced into the U.S. during the _________s. (us numerals for the year we talked about during lecture).
'Sheep keds were introduced into the U.S. during the 1400s. (us numerals for the year we talked about during lecture).
The American brand was launched in 1916 and was originally going to be called "Peds" after the Latin word for foot. Realizing that the word had already been trademarked, the company settled on the name Keds
They specialize in creating simple, cute styles that are both comfortable and affordable. The canvas upper and rubber sole design was one of her first choices to give women a stylish shoe that allows them to be who they want to be and go wherever they want.
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The President of PDQ Corporation buys PDQ shares in the open market. After holding them for 3 months fully paid, the President wishes to sell the shares. The shares can be sold:
There are different ways to share shares. The shares can be sold immediately.
In a sale of shares, a company's shareholders often sell the shares that is entitling ownership of the company to a specific buyer. In the transaction, all the rights and responsibilities that pertains to the ownership of shares are transferred to the buyer.
Note that as long as the 6-month holding period needed has fulfilled on the restricted shares, and therefore, when they are donated, the charity can sell the shares immediately. There is therefore no need for another 6-month holding period be taken again.
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The President of PDQ Corporation buys PDQ shares in the open market. After holding them for 3 months fully paid, the President wishes to sell the shares. The shares can be sold:
A. immediately
B. after holding the securities for an additional 3 months
C. after holding the securities for an additional 6 months
D. after holding the securities for an additional 1 year
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which of the following does a central bank in a system with limited reserves use most often to combat a recession? (a) selling securities (b) buying securities (c) reducing the reserve requirement (d) increasing the discount rate (e) increasing the federal funds rate
Increasing the discount rate - is the most common way a central bank in a system with limited reserves uses to combat a recession. (D)
The discount rate is the interest rate charged to financial institutions when they borrow funds from a central bank. A central bank raising the discount rate causes borrowing to become more expensive and discourages spending, which helps to slow down inflation and stimulate economic growth.
This helps to reduce the negative effects of a recession. In contrast, buying securities or reducing the reserve requirement may increase the money supply and stimulate spending, which could potentially worsen a recession. Increasing the federal funds rate, which is the rate at which banks lend to each other, does not directly affect the public and therefore does not have an effect on a recession.
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Total Cost Total benefitPlan A -- Levees $10,000 $16,000Plan B -- Small Reservoirs $24,000 $36,000Plan C -- Medium Reservoirs $44,000 $52,000Plan D -- Large Reservoirs $72,000 $64,000The above data are for a series of increasingly extensive flood control projects.For Plan D marginal costs and marginal benefits are:O $28,000 and $12,000, respectively. O $72,000 and $64,000, respectively. O $24,000 and $18,000, respectively.O $16,000 and $28,000, respectively.
For Plan D, the total cost is $72,000 and the total benefit is $64,000. The marginal cost of Plan D is the difference in total cost between Plan D and the previous plan, which is $72,000 - $44,000 = $28,000.
The marginal benefit of Plan D is the difference in total benefit between Plan D and the previous plan, which is $64,000 - $52,000 = $12,000. Therefore, the answer is option A, $28,000 for marginal cost and $12,000 for marginal benefit. Marginal cost is the additional cost incurred to produce one additional unit of a good or service. In this case, to move from Plan C to Plan D, the total cost increases by $28,000 ($72,000 - $44,000), while the total benefit increases by $12,000 ($64,000 - $52,000).
Therefore, the marginal cost of moving from Plan C to Plan D is $28,000, and the marginal benefit is $12,000. This suggests that the additional cost of implementing Plan D outweighs the additional benefits gained, so it may not be economically efficient to pursue this option.
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OJT is best for large groups.
True
False
which stage of the product cycle is characterized by severe competition and heavy expenditures?
The point in the life cycle of a product when competition is severe and sales growth eventually peaks before slowing down as it gains universal acceptance. A slowdown in the revenue for a given product class or the overall industry is indicative of the mature stage.
Additionally, minor competitors start to withdraw from the market. The competition is fiercest at the maturity period. Competition for clients is typically at its strongest since rival businesses have had enough time to launch competing and improved products. The most lucrative but also most competitive stage is this one. If there are few rivals, the business may price the product higher in order to boost profit margins.
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