Splish Brothers Inc Borrows $86,400 On July 1 From The Bank By Signing A $86,400.10% 1 Year Note payable a) Prepare the journal entry to record the proceeds of the note(Credit account titles are automatically identified when amount is entered)
b) Prepare the journal entry to record the accrued interest at December 31, assuming adjusting entries are made only at the end of year.(Credit account titles are automatically identified when amount is entered)
Answers
a) The journal entry to record the proceeds of the note would be as follows:
Date Account Debit CreditJuly 1 Cash $86,400Notes Payable $86,400The Cash account is debited to increase the cash balance, and the Notes Payable account is credited to record the borrowing of $86,400.b) The journal entry to record the accrued interest at December 31 would be as follows:Date Account Debit CreditDecember 31 Interest Expense $86 Interest Payable $860The Interest Expense account is debited to recognize the expense incurred for the accrued interest, and the Interest Payable account is credited to record the liability for the accrued interest that is yet to be paid.
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Related Questions
What is the meaning of plan?
Answers
Explanation:
somali waa dowlad awood weyn
Critical Thinking Questions
1. How are consumer buying decisions related to successful financial management?
2. What are some of the strategies that you currently use to make consumer buying decisions? Do you think your strategies are helping or hindering your financial plan? Why? Are there improvements that you could make in your buying decisions?
3. What are some of the ways to reduce your risk of becoming a victim of identity theft?
4. What are three different advertising techniques that sponsors use to encourage you to buy a product? Describe each technique.
5. What should you do if you are a victim of identity theft?
Answers
The way consumer buying decisions are related to successful financial management is If the consumer spends their money according to their financial plan it would be successful.
What is Consumer Decision?This refers to the decision that is taken by the customer about what to purchase and this affects demand and supply.
Hence, we can see that some strategies that can be used to make consumer buying decisions are:
Problem Recognition. ...Information Search. ...Evaluation of Alternatives. ...Purchase Decision. ...Purchase. ...Post-Purchase EvaluationRead more about consumer buying decisions here:
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Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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The Finley Company plans to produce 25,000 units during July. It plans to sell 26,000 units in July. Each unit of finished product requires 2 pounds of direct material X. This direct material costs $4 per pound. The July 1 inventory of X is 2,000 pounds, and the desired July 31 inventory of X is 1,000 pounds. The cost of material X purchases in July is planned to be: Group of answer choices
Answers
The cost of the material X purchased in July should be $196,000.
The cost of material X purchased be:Material required for production (25,000 units × 2 pound per unit) 50,000 pounds
Add: Desired closing inventory 1,000 pounds
Total requirement 51,000 pounds
Less: Opening inventory - 2,000 pounds
Material to be purchased 49,000 pounds
Multiply with Cost of material $4 per pound
Total cost of purchases $196,000
Therefore we can conclude that the cost of the material X purchased in July should be $196,000.
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Your organization employs highly skilled workers whose professional norms guide their behavior and decisions. What organizational structure should you use?.
Answers
You should use flexible structure if Your organization employs highly skilled workers whose professional norms guide their behavior and decisions.
Flexible structure:
Highly skilled workers prefer autonomy and less supervision. As a result, a more adaptable structure will benefit them. Their creativity will be stifled by a hierarchical and centralised structure.
Flexible business structures are those that emerge within a company as a result of the interactions between employees during normal business operations and the current employee relations.
In order to acquire an edge and maintain its competitive position, a flexible organisation is one that can quickly adjust to changes in its external environment.
The team structure is the most adaptable organisational structure, second only to the network structure. Employee teams that bring expertise to particular objectives or work processes form the foundation of the organisation.
So, the right answer is Flexible Structure.
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In several African countries where the rhinoceros was once a thriving species, the animal is now nearly extinct. In most of these nations, rhinoceros horns are used as traditional ingredients in certain medicines. Rhinoceros farming has been proposed as an alternative to the imposition of stiff penalties on people who are caught engaging in rhinoceros hunting. The imposition of stiff penaltiesA. reduces the supply of rhino horns.B. makes poaching more lucrative.C. increases the price of rhino horns.D. All of the above are correct.E. B & C only are correct.
Answers
Answer:
D. All of the above are correct
Explanation:
In many places, rhinoceros are illegal hunted down and their horns are illegal black market at a very high price. It is believed that the rhino horns have some medicinal value.
In the context, in several South African countries, the government have imposed heavy penalties on people who are caught in hunting of the rhinoceros. Thus this imposing of the penalties will increase the cost of the rhino horn in the black market, it will also makes the poaching business more lucrative as the demand on the horns and the cost of the hunters will be more. Penalties will also effect the supply of the rhino horns as many people will now stop poaching the rhinos. Thus the supply will decrease.
Therefore the correct option is (D).
Hyper-Tech Enterprises manufactures mechanical parts used in air conditioning and heating units.The company employs over 300 workers at its Alabama facility.None of the Hyper-Tech employees belongs to a union; however,management believes that unionization is in the near future.A representative of a local union has recently visited Hyper-Tech in an attempt to solicit members and have them sign authorization cards.Enough eligible employees have signed authorization cards to petition the NLRB for an election.Hyper-Tech's top executives are considering fighting the unionization efforts. Which of the following,if TRUE,best supports the argument that Hyper-Tech should contest the union's right to an election?
A) Hyper-Tech managers will soon be conducting annual employee performance appraisals and determining what salary adjustments to make.
B) Managers believe that they may have inadvertently hired union salts, who most likely instigated the unionization movement at Hyper-Tech.
C) Hyper-Tech management believes that if employees are provided with additional information from the firm, they will revoke their authorization cards.
D) The process outlined at Hyper-Tech for filing employee grievances differs from the grievance procedures at other firms in the same industry.
Answers
Hyper-Tech's top executives are considering fighting the unionization efforts. The statement which if TRUE, best supports the argument that Hyper-Tech should contest the union's right to an election is
D) The process outlined at Hyper-Tech for filing employee grievances differs from the grievance procedures at other firms in the same industryHyper-TechIt was founded in 2008. The company's line of business includes providing various business services.
In conclusion, we can conclude that the correct answer is as given above.
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What is one way to overcome imposter syndrome?
A. Use imagination and visualization to find your natural talents.
B. Remind yourself that you worked hard for the success you
achieved.
OC. Compare yourself to those who are better than you at a specific
skill.
D. Identify with members of a group who you perceive are like you.
Answers
Overcoming imposter syndrome can be challenging, but one approach is to, remind yourself that you worked hard for the success you achieved. Option B
What is Imposter syndrome i about?Imposter syndrome is a common phenomenon where an individual feels like a fraud, doubting their abilities and accomplishments despite evidence of their competence.
Acknowledge and give yourself credit for the hard work, effort, and skills you've acquired to achieve success. Recognize that everyone makes mistakes and experiences setbacks, but that doesn't diminish their abilities or accomplishments. Focus on your strengths and the value you bring to the table, rather than comparing yourself to others.
Over time, you can gradually build your confidence and self-esteem by continuously reminding yourself of your achievements and your ability to grow and learn.
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An industrial firm is considering purchasing several programmable controllers and automating its manufacturing operations. It is estimated that the equipment will initially cost $150,000 and the labor to install it will cost $45,000. A service contract to maintain the equipment will cost $5,000 per year. The trained service personnel will have to be hired at an annual salary of $40,000. Also estimated is an approximate $15,000 annual income-tax savings (cash inflow). How much will this investment in equipment and services have to increase the annual revenues after taxes in order for the firm to break even?
Answers
This investment in equipment and services will have to increase $64,511.91 of annual revenues after taxes in order for the firm to break even.
What does annual revenues mean?The money a business earns from the sale of goods and services over the course of a given year is known as annual revenue. Before any adjustments for the cost of the inventory you sold or business expenses, annual revenue is the sum of all sales. On income statements (also known as profit and loss statements) and your business tax form (Schedule C if you're a sole proprietor) your annual revenue is frequently referred to as "sales" or "gross receipts or sales."
Let increase in revenue = x
Initial investment = 150,000 + $45,000 = $195000
for breakeven NPV =0
Yearly cashflow = x+15000-40000-5000 = x-30000
195000 = (x-30000)/1.12 + (x-30000)/1.12² + (x-30000)/1.12³ .........(x-30000)/1.12¹⁰
x= $64,511.91
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Investment advisers who preach the benefits of strategic asset allocation do so because they believe
A) over the long run, strategic management will eventually outperform the market
B) the market is perfectly efficient because stock prices reflect all available information
C) active management of a portfolio offers tactical benefits
D) the market is basically inefficient and there is a strategy that can beat it
Answers
The correct answer is option (c) which is the Investment advisers who preach the benefits of strategic asset allocation do so because they believe that active management of a portfolio offers tactical benefits.
Strategic asset allocation is an investment method that entails dividing a portfolio's investments among different asset classes based on the investor's financial objectives, risk tolerance, and investment horizon.
It is an essential element of the portfolio management process because it aims to provide an optimal balance between return and risk by combining assets that react differently to market conditions.
Active management of a portfolio offers tactical benefits. Investment advisers who preach the benefits of strategic asset allocation are of the view that actively managing a portfolio provides tactical advantages, allowing investors to improve their returns or reduce their risks relative to the market.
This approach aims to take advantage of market inefficiencies, which arise when the market fails to reflect all available knowledge or responds inefficiently to new information.
In contrast, passive management takes a more relaxed approach, aiming to duplicate the market's performance rather than outperform it.
Hence, the correct option is C.
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union local school district has bonds outstanding with a coupon rate of 3.5 percent paid semiannually and 18 years to maturity. the yield to maturity on these bonds is 3.9 percent and the bonds have a par value of $10,000. what is the dollar price of the bond? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answers
The dollar price of the bond is $9,261.54.
To find the dollar price of the bond, we need to calculate the present value of the bond's cash flows, which consist of semiannual coupon payments and the final face value payment.
Given:
Coupon rate = 3.5% (paid semiannually)
Years to maturity = 18 years
Yield to maturity = 3.9%
Par value = $10,000
First, we need to find the semiannual coupon payment and the number of periods.
Semiannual coupon payment = (Par value x Coupon rate) / 2
= ($10,000 x 0.035) / 2
= $175
Number of periods (n) = Years to maturity x 2 (semiannual)
= 18 x 2
= 36
Semiannual yield (YTM) = Yield to maturity / 2
= 0.039 / 2
= 0.0195
Now, we can calculate the present value of the bond.
Bond price = (Semiannual coupon payment x (1 - (1 + Semiannual yield)^(-n)) / Semiannual yield) + (Par value / (1 + Semiannual yield)^n)
= ($175 x (1 - (1 + 0.0195)^(-36)) / 0.0195) + ($10,000 / (1 + 0.0195)^36)
= ($175 x 24.3472) + ($10,000 / 1.9994)
= $4,260.76 + $5,000.78
= $9,261.54
The dollar price of the bond is $9,261.54.
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A tennis ball is dropped from 1.0~m1.0 m, bounces off the ground, and rises to 0.85~m0.85 m. What kind of collision occurred between the ball and the ground
Answers
Based on the information provided, the collision between the tennis ball and the ground is an inelastic collision.
This is because the ball bounces off the ground, but does not return to its original height of 1.0 m. Some of the kinetic energy of the ball is lost during the collision, causing the ball to rise to a height of 0.85 m instead of 1.0 m. There are two types of collisions: elastic and inelastic.
In an elastic collision, both kinetic energy and momentum are conserved. The objects involved bounce off each other without any loss of energy. In this case, the ball would have the same speed when it reaches its maximum height of 0.85 m as it did when it was dropped from 1.0 m. In an inelastic collision, some kinetic energy is lost during the collision, typically converted into other forms of energy such as heat or deformation. The objects involved may stick together momentarily or deform upon collision.
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The market capitalization rate for Admiral Motors Company is 12%. Its expected ROE is 15% and its expected EPS is $7. The firm's plowback ratio is 40%.
a. Calculate the growth rate. (Input your answer as a nearest whole percent.)
Growth rate
6:%
b. What will be its P/E ratio? (Do not round intermediate calculations.)
P/E ratio
%
Answers
a. the growth rate is 6%.
b. the P/E ratio is approximately 13.333 (rounded to three decimal places).
To calculate the growth rate, we can use the formula:
Growth rate = Retention ratio × Return on Equity
Given that the plowback ratio (retention ratio) is 40% and the expected ROE is 15%, calculate the growth rate as follows:
Growth rate = 0.40 × 0.15 = 0.06 or 6%
Therefore, the growth rate is 6%.
To calculate the P/E ratio, we can use the formula:
P/E ratio = Market capitalization rate / (ROE - Growth rate)
Given that the market capitalization rate is 12%, the expected ROE is 15%, and the growth rate is 6%, calculate the P/E ratio as follows:
P/E ratio = 0.12 / (0.15 - 0.06) = 1.2 / 0.09 = 13.333...
Therefore, the P/E ratio is approximately 13.333 (rounded to three decimal places).
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Select the correct answer.
Which is the first step that managers should take to resolve a conflict within a diverse team?
allow each individual to offer a solution
encourage each individual to propose a mediator
get each individual to state the problem from his or her viewpoint
a
approach senior management for a solution
Answers
Answer:
get each individual to state the problem from his or her viewpoint.
Explanation:
The first step that managers should take to resolve a conflict within a diverse team is to get each individual to state the problem from his or her viewpoint.
Answer:
get each individual to state the problem from his or her viewpoint
Explanation:
that is the correct answer and here is why the first step for resolving a conflict within a diverse team is to get each individual to state the problem from his or her viewpoint.
How old do you have to be to be an authorized user on a credit card?.
Answers
Define an organization chart:
Answers
it's a chart that breaks down and explains a company's structure and roles.
new ventures may find it difficult to use differentiation strategies successfully because they lack and . group of answer choices sufficient funding; superior innovation competitors; superior technology sufficient funding; qualified entrepreneurs innovative ideas; potential customers
Answers
New ventures may find it difficult to use differentiation strategies successfully because they lack sufficient funding and superior innovation. The correct option is A and B.
Differentiation strategy is a valuable approach for businesses to stand out in a crowded marketplace by offering unique products or services to customers. However, new ventures may find it challenging to use this strategy effectively due to a lack of sufficient funding and experienced entrepreneurs.
Developing and marketing unique products and services requires substantial investment, and startups often have limited resources compared to established businesses. Additionally, new ventures may lack the experience and skills necessary to identify and effectively target potential customers.
Therefore, new ventures should carefully evaluate the potential costs and benefits of differentiation strategies and seek out support from experienced advisors and investors to increase their chances of success. The correct answer is A and B.
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Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as:.
Answers
Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as User-generated content.
User-generated contentUGC for short is content that is created, published or submitted by users of a brand. In numerous cases, it's the most influential content for brands. Usually, contributors are unpaid fans who encourage a brand instead of the brand promoting itself.
Online users are evolved increasingly savvy in knowing which companies are using messy marketing tactics, and which ones are being genuine and evident.
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If you bought 100 shares of Company X at $30 per share, and sold it one
month later at $40 per share, what would be your total profit?
Answers
Answer:
$1,000
Explanation:
Number of shares bought 100 shares
Buying price = $30
Selling price= $40
The total profit will be total sales - total buying costs
=($40 x 100) -($30 x 100)
=$4,000 - $3,000
=$1,000
now watch me wip watch me nae nae watch me wip wip now watch me nae nae
Answers
Answer:
Please stop this is a learning based website
Explanation:
Answer:
yes
Explanation:
which of porter's forces focuses on the strategic use of information resources to gain access to distribution channels and create economies of scale?
Answers
The Porter's force that focuses on the strategic use of information resources to gain access to distribution channels and create economies of scale is retention strategy.
A distribution channel is a network of businesses or middlemen that a commodity or service travels through it before reaching its final consumer or buyer. Wholesalers, merchants, wholesalers, as well as the internet are instances of distribution channels. A distribution channel is the pathway that all services and merchandise must follow in order to get to their potential customers. On the other hand, it also specifies the transaction route that customers can take to pay the original provider. The length of a distribution channel relies on the number of middlemen were needed to distribute a good or service.
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1. A customer relationship management (CRM) system helps a company in managing _____?
a. material sourcing and procurement
B. product development and manufacturing
C. distribution and accounting
D. human resources and finance
2. With an online transaction processing (OLTP) system, each transaction is accumulated over a period of time and prepared for processing in a large batch of similar transactions?
a. True
b. False
3. In a manufacturing enterprise resource planning (ERP) system, demand management_____?
a. refines a production plan by determining the amount of weekly or daily production needed to meet the demand for individual products
b. determines the amount and timing for placing raw material orders with suppliers
c. creates sales forecasts based on historical data
D. determines detailed production schedule
4. Transaction processing systems (TPSS) provide valuable input to management information systems, decision support systems, and knowledge management systems?
a. False
b. True
Answers
The CRM helps in distribution and accounting, the answer is false, ERP refines a production by plan determining the amount of weekly or daily production needed to meet the demand for individual products and the answer is true for the 4th question.
What is CRM?In order to manage and analyzing consumer interactions and data across the customer lifecycle, businesses employ a combination of practices, strategies, and technologies known as customer relationship management (CRM).
The objective is to strengthen interactions with customers in order to promote client retention and increase sales.
1.
A customer relationship management (CRM) system helps a company in managing is distribution and accounting.
2.
The answer is False. Software that can capture, store, and process data from transactions is known as online transaction processing.
3.
An enterprise asset management (ERP) system for manufacturing is a type of business process software solutions that improves a capacity planning by figuring out how much production is required each week or day to satisfy demand for certain items. Hence, option A is correct.
4.
The answer is True.
By processing a company's commercial transactions and supplying crucial information to information management, decision support tools, and knowledge management, accounting software (TPS) assist an enterprise's operations.
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A restaurant wants to open its branch in Malaysia,
a) What specific and environmental factors company needs to look
after?
Answers
When considering opening a restaurant branch in Malaysia, it is important to consider specific and environmental factors.
The specific and environmental factors company needs to look afterSpecific factors include conducting a market analysis, understanding the legal and regulatory environment, selecting the right location, managing the supply chain, and hiring the appropriate human resources.
Environmental factors involve being culturally sensitive, analyzing socioeconomic factors, assessing political stability, understanding the technological landscape, and embracing environmental sustainability.
By addressing these factors, the restaurant can make informed decisions and adapt to the local market and environment, increasing the chances of success in Malaysia.
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Question 2 of 10
Jeremy doesn't have a lot of money to spend on advertising, but he knows his
target audience are local outdoor enthusiasts. Which type of media format
should Jeremy use to advertise?
A. Local newspapers
B. Billboards on busy streets
C. National television commercials
D. Plane banners
Answers
Answer:
B. Billboards on busy streets
Explanation:
Billboard advertising involves making use of large-scale print advertisements to market a company's products and services. Billboards are strategically mounted in high traffic areas to pass their message to as many people as possible. Busy highways and streets, strategically located buildings are ideal places to put billboards.
Jeremy should consider using billboards for the following reasons.
His clients are local outdoor enthusiasts; he needs to find out their favorite destinations are put billboards along the way. This way, he will capture their attention.Billboards are less costly compared to other advertisement options, such as television or plane banners.Billboards will be effective in his case. Because his clients are local, and billboards remain in place for several days or weeks, his target clients will not fail to spot them.Answer:local news papers
Explanation:
how do you wrrite the word pneumonoultramicroscopicsilicovolcanoconiosi aand what does it mean?
Answers
Answer:
Pneumonoultramicroscopicsilicovolcanoconiosis
Explanation:
Pneumonoultramicroscopicsilicovolcanoconiosis is a phrase used to describe a lung condition produced by inhaling silica dust, as in I had difficulty breathing and my doctor diagnosed me with pneumonoultramicroscopicsilicovolcanoconiosis.
Companies publish __________, which incorporate software search features to facilitate the location and verification of diagnosis and procedure codes.
Answers
Companies publish coding books or coding manuals, which incorporate software search features to facilitate the location and verification of diagnosis and procedure codes.
These coding books serve as essential references for medical coders, billers, and other healthcare professionals involved in medical coding and reimbursement processes.
The coding books contain detailed information on various code sets, such as the International Classification of Diseases (ICD) codes and Current Procedural Terminology (CPT) codes. The software search features integrated into these coding books allow users to quickly search for specific codes based on keywords, descriptions, or alphanumeric identifiers.
These features enhance efficiency and accuracy in coding by providing easy access to the necessary codes and related information for proper medical documentation and billing purposes.
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What is the ROI of your mutual funds that you buy at $35,982 and sell at $41,938?
Answers
Answer:16.52%
Explanation: casuse itis
Explain how apple corporation helped the world to get better by its contribution in different fields of life
Answers
Explanation:
Apple is one of the largest companies in the world, and has contributed positively to the world in different fields of life. It can be said that the company has the highest standards of environmental management that contributes to the reduction of impacts caused by the company to the environment, as well as to the preservation and investments in environmental programs.
It is also correct to say that the company has revolutionized the way people communicate, with the creation of its technological devices that provided greater interaction between people, greater speed with which communication is exercised, helping in business, in the way of living, to buy and interact with the world.
Sparkling Water, Inc., expects to sell 3.7 million bottles of drinking water each year in perpetuity. This year each bottle will sell for $1.46 in real terms and will cost $.82 in real terms. Sales income and costs occur at year-end. Revenues will rise at a real rate of 1.8 percent annually, while real costs will rise at a real rate of 1.1 percent annually. The real discount rate is 7 percent. The corporate tax rate is 25 percent. What is the company worth today?
Answers
Answer:
$39,345,664.93
Explanation:
The computation of the company worth today is as follows:
Present value of revenues after tax is
= $3,700,000 × 1.46 × (1 - 0.25) ÷ (0.07 - 0.018)
= $77,913,461.54
And, Present value of costs after tax is
= $3,700,000 × 0.82 × (1 -0.25) ÷ (0.07-0.011)
= $38,567,796.61
So, the company worth today is
= $77,913,461.54 - $38,567,796.61
= $39,345,664.93
Maxdime Inc. is an international automobile manufacturer that has decided to work on low-cost fuel efficient motorbikes. Foray Inc., a domestic automobile company based in China, is willing to partner temporarily with the R&D team of Maxdime to design and launch motorbikes specially for the Chinese market. This is an example of ________.
i. entrepreneurial orientation
ii. non-equity-based strategic
iii. alliance sole proprietorship
iv. product differentiation
Answers
There are different kinds of services rendered. This above scenario is an example of non-equity-based strategic alliance.
What is non-equity strategic alliance?In a non-equity strategic alliance, firms often develop a form of agreement to distribute their resources without forming a separate entity or sharing equity.
Non-equity alliances are said to be a kind of loose and informal setting than a partnership that involves equity. This is said to be composed of a high majority of business alliances
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