The amount, the bank can lawfully credit to Ralph's account is the amount written in words
This is further explained below.
Ralph's account:Generally, It is possible to say, with reference to the provisions of the Uniform Commercial Code, that if the amount written in words on a check differs from the amount written in numbers on the check, the amount written in words has priority over the amount written in numbers. This is because the words take precedence over the numbers.
Therefore, given the circumstances, the bank is within its rights to credit Ralph's account with the sum that is written out in words on the check that was written out by Shakes n Burgers (subject to the availability of the amount in the shakes n Burgers account).
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According to the digital disconnect and the lecture, the global digital divide is the result of _____.
According to Digital Disconnect, the global digital divide is the result of the hyper-commercialization of Internet development that only serves affluent populations/groups.
The Digital Disconnect refers to experts' examination of current theory, research, and practice in socio-digital inequality. The Digital Disconnect provides a thorough analysis of capitalism's exploitation of the Internet. As per the Digital Disconnect, it is the hypercommercialism of mainstream computing technologies that causes the global digital divide. The global digital divide refers to global discrepancies, particularly between developing countries, and developed in access to computing and information resources such as the Internet, as well as the opportunities that such access provides.
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a country purchases $3 billion of foreign-produced goods and services and sells $2 billion of domestically produced goods and services to foreign countries. it has exports of
A nation spends $3 billion on imported goods and services and $2 billion on exports of goods and services produced domestically. $2 billion worth of exports are made, but there is a $1 billion trade deficit.
Exports are goods and services produced in one country but sold to buyers in another. Exports and imports comprise international trade.
The country that manufactures and sells a product is known as the exporter, and the products that it sends to other countries are known as exports. In contrast, the country that purchases and receives the products is known as the importer, and the products are referred to as imports. Exports are critical to the economy of any country.
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yoko bought a desktop computer and a laptop computer. before finance charges, the laptop cost more than the desktop. she paid for the computers using two different financing plans. for the desktop the interest rate was per year, and for the laptop it was per year. the total finance charges for one year were . how much did each computer cost before finance charges?
Each computer cost before finance charges could be simply calculated by simple interest rate. If we are not very sure how they want you to calculate the finance charges, but if it's just simple interest then the answer could be find out by:
Suppose, Let D = cost of desktop
Then L = cost of laptop = D + (whatever the cost of the laptop is)
Putting the values for the cost of desktop and laptop , the cost before finance charges is easy to obtain with the specific amount of interest rate(that should be given). If the cost of the laptop is low as compared to computer desktop, we would prefer laptop.
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which of the following statements is true regarding how various decision styles impact employees? group of answer choices a democratic style results in positive attitudes a democratic style is the fastest way to make decisions a laissez-faire style results in higher performance an autocratic style results in lower performance a laissez-faire style results in positive attitudes
Positive attitudes are the product of a democratic style. The following traits are frequently found in leaders that practice democratic leadership. Leaders that practice shared leadership put their teams in charge of coming up with ideas and solutions.
This trust motivates teams to collaborate in novel ways without micromanaging, which fosters organizational creativity. Positive attitudes are the product of a democratic style. A company's top management decided that low sales would prevent them from awarding end-of-year bonuses.
It encourages an atmosphere of creativity. A creative environment is promoted by the democratic leadership style by promoting team members' invention and contribution. For instance, due to the inherent support in this style of leadership, creative professionals typically prosper under it.
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If you were looking to invest in a mutual fund focused on safety and minimal growth, what type of mutual fund would you invest in?.
One of the investing categories with the lowest volatility is money market mutual funds.
What you mean by Mutual funds?An example of a fixed income mutual fund that invests in debt securities is the money market mutual fund, which is distinguished by its investments' short maturities and low credit risk.
One of the investing categories with the lowest volatility is money market mutual funds.
The top low-risk investments for October 2022 are listed below:
certificates of deposit for brief periods.
Money market investments.
Bonds, TIPS, and Treasury Bills.
corporate obligations
stocks that provide dividends.
preferred securities.
a fixed annuity
Bonds with a AAA rating are among the most secure, but they also have the lowest yields. The risks and returns of stocks, on the other hand, are larger. However, by making stock exchange-traded fund investments, you can lower your risk exposure (ETFs).
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suppose that a market basket used to construct a university student price index (uspi) consists of 4 textbooks and 100 gallons of gasoline. in 2018, the base year, textbooks cost $100 each, and gasoline costs $2 per gallon. in 2019, textbooks still cost $100 each, and gasoline costs $4 per gallon. the uspi for 2019 is:
In 2019, textbooks still cost $100 each, and gasoline costs $4 per gallon. the USPI for 2019 is 133.33
Calculation:
Cost of basket in 2018 = 4 × 100 + 100 × 2 = 600
Cost of basket in 2019 = 4 × 100 + 100 × 4= 800
CPI in 2019 = 800/600 ×100 = 133.33
The Consumer Price Index (CPI) tracks changes in consumer prices on a monthly basis in the United States. The cost-of-living index (CPI) is determined by the Bureau of Labor Statistics (BLS) as a weighted average of prices for a sample of products and services that is indicative of total consumer expenditure in the United States.The CPI is among the most widely used indicators of inflation and deflation. The producer price index (PPI), which tracks changes in the prices paid to US producers of goods and services, has a different survey methodology, pricing samples, and index weights than the CPI report.The CPI is based on around 94,000 price quotations that are gathered each month from 23,000 retail and service businesses and 43,000 rental housing units.Learn more about Consumer Price Index (CPI), here
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wolf computer exchanged a machine with a book value of $40,000 and a fair value of $35,000 for a patent. in addition, wolf received $6,000 as part of the exchange. wolf should recognize:
Wolf also earned $6,000 as part of the trade. Wolf should record a $5,000 gain.
What is a patent used for?A product or methodology that, in general, shows a new technical approach to a problem or offers a novel method of doing something is considered to be an invention. An innovation is granted an exclusive privilege known as a patent. In order to secure a patent, technical information regarding the innovation must be made available in the application.
Because a patent has no physical components and offers long-term value to the owner, it is regarded as an intangible asset. As a result, a patent is accounted for in the same way as any other intangible fixed asset: initial recordation.
In the given question,
The patent is debited for $51,000 ($45,000 for the machine and $6,000 for the cash), which is the fair market value of the assets provided. After that, the corporation deducts the old machine's book value ($40,000) and credits cash for the amount paid ($6,000). A gain of $5,000 results from the difference.
(51,000-(40,000+6,000)) = 5000 (gain)
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a. in the fiscal year ended july 31,2014, intuit reported net income of $1,009 million. how much did intuit pay in dividends to its common shareholders?
Intuit paid $211 million in dividends to common stockholders for the year ended July 31, 2014.
What is stockholders ?Stockholders are also called corporate or individual shareholders who own at least part of the share capital of an organization. Stockholders most often own the company and usually buy the company's performance in the form of a higher stock valuation.To elaborate on the underlying meaning of the term, "shareholders" technically mean owners of shares, which can be interpreted as inventory rather than shares. Conversely, “shareholder” means the owner of the shares and only the equity interest in the company.Holders of ordinary shares of a corporation are called ordinary stockholders.Common stockholders elect the company's board of directors and vote on certain transactions, such as: Merger of Company with Another Company.To learn more about stockholders from the given link:
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three years ago, suzanne bought a new personal automobile for $26,900. this year, she sold it for $19,000. what is the amount and character of suzanne's recognized loss?
No loss was recorded when a personal asset was sold.
According to the exclusion rule, money that cannot be utilized to buy food or shelter is not taxable.
Of the following, which is not considered gross income?Income from municipal bond income, child support, life insurance death benefit money, and welfare are all excluded from the IRS's determination of your income tax. According to the exclusion rule, money that cannot be utilized to buy food or shelter is not taxable.Itemized deductions are particular costs borne by the taxpayer that may lower taxable income. Mortgage interest, state or local income taxes, property taxes, medical or dental expenses in excess of AGI restrictions, and charitable contributions are examples of itemized deductions.The costs you incurred for state and local income or sales taxes, real estate taxes, personal property taxes, mortgage interest, and disaster losses are all included in itemized deductions.To learn more about Gross income refer to:
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all of the following are benefits of economic growth except a. improved health. b. urban congestion. c. reduction in illiteracy. d. political stability.
Urban congestion is not a benefit of economic growth.
What is economic growth?Economic growth describes the increase in quantity and quality of economic goods and services produced and consumed by society. Economic growth is easy to define, but very difficult to measure.Economic growth increases national efficiency and the supply of public goods. As the economy grows, the state taxes these revenues, providing the capacity and resources necessary to provide the public goods and services that citizens need, such as health care, education, social protection, and basic public services. You can get Average Annual Growth Rate – This is the average change for each of the four quarters. For example, if there are four quarterly growth rates of 2%, 3%, 1.5%, and 1% in 2022, the annual compound growth rate for that year is 7.5% ÷ 4 = 1.875%.To learn more about economic growth from the given link :
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Invented by the well-known quality control statistician dr. Kaoru ishikawa, what is the name of the analysis tool that provides a systematic way of looking at effects and the causes that create or contribute to those effects?.
A visual aid for classifying a problem's possible origins is a fishbone diagram. This technique is used to determine the underlying causes of issues.
What is Fishbone structure?An effective visual representation of cause and consequence is a fishbone diagram. It is a more organized method than some other problem-solving programs on the market (e.g., the Five Whys tool). The issue or result is seen at the fish's mouth or head.The cause-and-effect analysis tool most frequently used in Six Sigma is the fishbone diagram. One of the most important responsibilities in any Six Sigma DMAIC project is cause-and-effect analysis because when the right root causes of the issue (the Y) are identified, half the battle is won.One of the seven quality circles (QC) tools is a fish-bone diagram. Visualizing potential causes makes it easier to identify the underlying cause of a specific issue.To learn more about Fishbone structure refer to:
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As ________blank, pioneers have the advantage of creating a new market or product category, establishing a commanding initial market share lead.
As first movers, pioneers have the advantage of creating a new market or product category, therefore establishing a commanding initial market share lead.
The major benefit of being a first mover om a new market or product category is the opportunity to build impactful brand awareness and customer loyalty. That way, first movers can easily dominate the market or product category and maximize early sales, gaining an upper hand against their rivals. They can also adjust their good or service quality as well as refine their marketing strategy with the additional time they get before rivals start to enter the market.
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if a lump-sum income tax of $30 billion is levied and the mps is 0.40, the consumption schedule will shift multiple choice downward by $30 billion. downward by $18 billion. downward by $12 billion. upward by $18 billion.
If a lump-sum income tax of $30 billion is levied and the MPs is 0.40, the consumption schedule will shift downward by 18 billion.
The term "income" generally refers to the transfer of money, property, and other value received over a period of time in exchange for services or products. There is no single standard definition. Income is defined according to the context in which the concept is used. The three most important types of income are earned income, passive income, and portfolio income.
Earned income includes wages, salaries, tips, and commissions. Passive or unearned income is derived from rental properties, royalties, and limited partnerships. Portfolio or investment income includes interest, dividends, and investment income. Source of Income means an employer or subsequent employer or other person or entity owing or expected to pay income to a payer.
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product and service assortment, retail prices, promotion, and distribution are all part of which category of retail marketing decisions? retail positioning retail targeting retail marketing mix retail segmentation retail supply chain
A company's total number of product lines and individual goods or services is known as a product mix. also known as a product portfolio or an assortment of products.
What is retail's subcategory?
Concerning the retail trade industry. The retail exchange area is essential for the exchange, transportation, and utilities super sector. Establishments that provide services related to the sale of merchandise and retail merchandise, typically without transformation, are included in the Retail Trade sector.
What is the distribution, pricing, and promotion of a product?
The following are the four essential components of a marketing strategy: product, cost, location, and promotion
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in 1997, russia and ukraine exported carbon steel plate into the u.s. at a price much lower than the countries were found guilty of charging the identical steel in their home markets. russia and ukraine were engaged in:
In 1997, Russia and Ukraine exported carbon steel plates into the U.S. at a price much lower than the countries that were found guilty of charging identical steel in their home markets. Russia and Ukraine were engaged in dumping.
What is dumping?
Dumping is described as a process in which companies sell their products are a subsidized price or at a very low price. This is because such products are manufactured in large quantities and now such products are then sold in different markets at a reduced rate. In this process, a company or a country can carry out the dumping process.
In this scenario, Russia and Ukraine, in 1997, carried out dumping by exporting carbon steel plates into the US market at very cheap rates. This was later found out and both countries were charged with the guilt.
It can be concluded that in 1997, Russia and Ukraine exported carbon steel plates into the U.S. at a price much lower than the countries that were found guilty of charging identical steel in their home markets. Russia and Ukraine were engaged in dumping.
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the costs of modern communication continue to decline because of . a. increased power of corporations b. increased usage and competition c. decreased capacity d. decreased speed of communication please select the best answer from the choices provided
As consumers become more reliant on goods and services like high-speed internet connections, cellphones, computers, and TV broadcast services, the communication business is in great demand.
The demand for products and services in the communication sector is high, but costs have decreased as a result of increased competition brought on by a growth in the number of businesses providing these goods and services. The internet became more popular and less expensive in 2000 as a result of industrialization and technological development. This allowed people to conduct browsing, assist students in learning from the web's resources, facilitate communication, and assist in running their own businesses, ushering in a new period of economic expansion. The use of modern technology has sped up, made more convenient, and reduced the cost of international communication.
The development of technology has made monotonous jobs simple.
Nowadays, machines may be programmed to perform all arduous tasks.
Additionally, international business transactions have become simple.
Since data monitoring and analysis can now be completed much more quickly than in the past, even research and scientific studies have become simple.
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Apex fitness club uses straight-line depreciation for a machine costing $28,800, with an estimated four-year life and a $2,300 salvage value. at the beginning of the third year, apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,850 salvage value.
The book value of the asset at the end of the second year is $15,550.
The depreciation for each of the final three years is $4,566.67.
What is the book value and the depreciation?Straight line depreciation method is a method that is used to depreciate the value of an asset. The value of the asset is depreciated linearly over the useful life of the asset.
Depreciation expense = (cost of the asset - salvage value) / useful life
(28,800 - $2,300) / 4 = $6,625
Book value is the cost of the asset less its accumulated depreciation
Book value = cost of the asset - accumulated depreciation
Accumulated depreciation = yearly depreciation expense x number of years
$6,625 x 2 = $13,250
Book value = $28,800- $13,250 = $15,550
Depreciation expense using the revised estimate = ($15,550 - $1,850) / 3 = $4,566.67
Here is the complete question:
Compute (1) the machine’s book value at the end of its second year and (2) the amount of depreciation for each of the final three years given the revised estimates.
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when considering economic growth, many policy makers focus on real gross domestic product (gdp) per capita since it takes into account the potentially distorting effects of
When considering economic growth, many policy makers focus on real gross domestic product (GDP) per capita since it! takes into account the potentially distorting effects of population change.
What is gross domestic product?Gross domestic product can be described as the standard measure that is been used by the economist when trying to measure the economic growth that can be associated to the country over a particular period of time.
It should be noted that this is been done through the finding the measurement of the value added created that can be attributed to the production of goods as well as the services that can be found in the country with respect to a particular period.
In conclusion , this tool do take into consideration of the income that is been earned during the production, as well as the total amount spent on goods with the consideration of the population of the country.
Therefore, the first option is correct.
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Check the missing options;
O population change. O pollution. O unemployment. Any large, sustainable increase in real GDP must be due to steadily increasing levels of research and development. labor productivity. birth rates. O levels of labor force participation.
at its 2011 annual meeting, the american medical association voted to encourage magazine industry efforts to discontinue the use of a particular practice. what was the practice?
At its 2011 annual meeting, the practice will be digitally altering graphics of models' bodies that the american medical association voted to encourage magazine industry efforts to discontinue the use of a particular practice.
What is magazine?
A magazine is a type of periodic publication that is issued on a regular basis (typically weekly or monthly) and contains a wide range of content. They are often funded through advertising, purchase price, prepaid subscriptions, or a mix of the three. The word "magazine" comes from the Middle French magasin, which means "warehouse, depot, or store," the Italian magazzino, and the Arabic makhazin, which is the plural of makhzan, which means "storehouse."
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global fashion, inc., a u.s. firm, and haute couture, a haitian firm, are parties to a contract that specifies what court, jurisdiction, or tribunal would decide any dispute arising under the contract. this is
Global fashion, inc., a U.S. firm, and haute couture, a Haitian firm, are parties to a contract that specifies what court, jurisdiction, or tribunal would decide any dispute arising under the contract. This is a choice of forum clause.
What is a choice of forum clause?A clause in a contract known as a choice of law clause or proper law clause allows the parties to designate that any disputes arising out of the agreement will be resolved in accordance with the laws of a particular jurisdiction.choice of law clause agreement will be regulated by and interpreted in line with New York state law, for instance.It is possible to combine a choice of law provision with a forum clause.The combined provision would specify the venue for any disputes arising under the agreement, as well as the law to be used in those disputes.As long as a choice of law clause is genuine, valid, and implemented, the court will often uphold it.To learn more about choice of law clause from the given link
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enter's insurance would include coverage for: group of answer choices flood damage. personal property. house and other structures. umbrella liability. earthquake damage.
Personal property.
Three fundamental categories of protection are covered by renters insurance, often known as tenants insurance: Personal possessions. Liability. Additional costs of living.
Of the following, which one is not protected by renter's insurance?Major weather catastrophes like earthquakes, landslides, sinkholes, and floods are not covered by renters insurance. In addition, if your roommate is not a named insured on the policy, the policy will not provide coverage for pest infestations (including bed bugs) or for your roommate's belongings.Renters' contents insurance covers the costs of replacing any stolen or damaged objects covered by the policy, protecting your things against theft and damage from fire, flood, storms, subsidence, burst pipes, and water leaks.Three fundamental categories of protection are covered by renters insurance, often known as tenants insurance: Personal possessions. Liability. Additional costs of living.To learn more about Renters insurance refer to:
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della purchased a warehouse on february 25, 2020, for $350,000. $45,000 of the price was for the land. what is her cost recovery deduction for 2020 rounded to the nearest dollar?
$6,853 is her cost recovery deduction for 2020. Cost recovery is the process of deducting a portion of the cost of an asset used in a business or for income generation over its useful life through depreciation, amortisation, or depletion.
What cost recovery deduction ?Cost recovery refers to a company's ability to recover (deduct) the costs of its investments. It is crucial in defining a company's tax base and can influence investment decisions. When businesses are unable to fully deduct capital expenditures, they reduce capital spending, lowering worker productivity and wages.
Client money recovery can be unpredictable. Businesses frequently use the cost recovery method in accounting to protect themselves from uncertainty in revenue recognition. If you're an accountant or a freelancer, you should understand the cost of recovery method of bookkeeping.
The cost recovery method is a method of recognising and recording revenue. Some call it the collection method. In this method, a company does not recognise its sales profits until the cash collected exceeds the cost of the goods or services sold. Profit is not recognised under this method until the payments have recovered the seller's cost.
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Devon intends to set a very low price for one of his company’s products in hopes of driving the competition out of business. Devon is engaged in.
What Devon is engaged in that business strategy is called predatory pricing.
Predatory pricing is a pricing strategy in a business where a company charges a very low price for their product so it can drive its competition out of the business. Since their product is very cheap compared to the competition, the customer would choose their product over the others. After some time, the competition would be forced to close down from the lack of sales.
Once there is no more competition in the business, the company that does the predatory pricing strategy would then increase their product prices again.
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meng company maintains a $335 petty cash fund. on january 31, the fund is replenished. the accumulated receipts on that date represent $87 for office supplies, $174 for merchandise inventory, and $27 for miscellaneous expenses. there is a cash shortage of $12. based on this information, the amount of cash in the fund before the replenishment is:
If a meng corporation keeps a $335 petty cash fund, the amount of money in the fund prior to replenishment is $300. January 31 sees a replenishment of the fund.
Dr. Office Supplies: $87; Dr. Merchandise Inventory: $174; Dr. Miscellaneous Expenses: $27; Dr. Cash Over/Under: $12; Cr. Cash: $300.
$335 in fund balance less $288 in revenues equals a hypothetical cash replenishment balance of $47.50. The cash on hand was less than projected as there fund was a $12 shortfall. $47 − $12 = $35. $30 less the $35 in cash on hand equals $300 for cash replenishment.
A pool of money designated for a certain use is known as a fund. A fund can be created for a variety of reasons, such as when a municipal fund government puts aside funds to build a new civic center, a college sets aside funds to give out scholarships, or an insurance company sets aside funds to settle claim payments from its clients.
Money can be invested in many types of funds by both individual and replenishment institutional investors with the intention of making money. Examples include mutual funds, which pool money from many participants and fund invest it in a diverse portfolio of assets, and hedge funds, which invest the assets of high-net-worth individuals (HNWI) and institutions in a way that is intended to achieve returns that are higher than the market average.
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toro introduced a small, lightweight snowblower called the snow pup. even though the product worked, sales failed to meet expectations. toro later found out that consumers perceived the name to mean that snow pup was a toy or too light to do any serious snow removal. when the product was renamed snow master, sales increased sharply. this is likely an example of
The product was renamed snow master, sales increased sharply. this is likely an example of Selective distortion.
Because you believe in advertising, you choose to purchase a product from a particular brand, just to find out that it is not as high-quality as you had been led to believe. The tendency for people to interpret information in a way that confirms already held views or perceptions is known as selective distortion.
Selective perception is the propensity to ignore and forget more rapidly things that are upsetting emotionally or go against our preconceived notions. Because of their bias against members of their own group, teachers, for instance, could have a favorite pupil. The instructor disregards the student's subpar performance.
The propensity to interpret information in a way that will fit our beliefs is known as selective distortion. Information is frequently distorted by consumers in order to support existing brand and product beliefs.
Customers often interpret information to fit or support their prejudices, which is known as selective distortion. Customers misinterpret information in a specific way in order to make it conform with their ideas about a brand or a previous product.
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the existing spot rate of the canadian dollar is $.82. the premium on a canadian dollar call option is $.04. the exercise price is $.81. the option will be exercised on the expiration date if at all. if the spot rate on the expiration date is $.87, the profit as a percent of the initial investment (the premium paid) is: group of answer choices
The net profit per unit is 50%.
The net profit per unit is: $.87 - $.81 - $.04 = $.02. The net profit per unit as a percent of the initial investment per unit is: $.02/$.04 = 50%.
A financial ratio called net profit margin, sometimes referred to as profit margin or net profit margin ratio, is used to determine the percentage of profit an organization generates from its total sales. It gauges how much net profit a business makes for every dollar of revenue generated. The ratio of net profit, also known as net income, to total sales, stated as a percentage, is known as the net profit margin.
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question content area during periods of decreasing costs, the use of the lifo method of costing inventory will result in a lower amount of net income than would result from the use of the fifo method. true false
The fifo approach would produce more net income at times of declining expenses, while the lifo method would produce less net income during the same times. So the correct response is true.
Write an account on lifo method of costing inventory.Utilizing the lifo method of costing inventories will produce less net income than doing so using the fifo approach during periods of declining costs.
When the expenses of making a product or acquiring inventory have been rising, the COGS (Cost of Goods Sold) computation uses the LIFO approach. Inflation may be to blame.
Although a company's profits may decline as a result of using the LIFO accounting system, it may also result in a reduction in the amount of corporate tax due. These savings could be substantial for a corporation if the cost rises persist for a while.
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Tennyson's ultimate goal is to work as the CEO of an advertising agency. One of her goals is to "gain the required experience for the position." What type of goal would this be?
OA performance-based
OB. time-based
O C.
OD. long-term
mid-term
The type of goal that is been used when Tennyson's ultimate goal is to work as the CEO of an advertising agency and one of her goals is to "gain the required experience for the position is B. time-based goal.
What is time-based goal?
Time-based goal can be described as the goal that is been focused so that it can be achieved on a target date, it involve focusing on a particular thing at a time so as to be successful in it.
In conclusion, from the case above , we can see that her goal is to work as the CEO of an advertising agency which is specific and have time.
Therefore, option B is correct.
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on october 1, 2024, a company purchased a piece of land by agreeing to pay the seller $450,000 in two years. if the company had borrowed the money from a bank to pay the seller immediately, management estimates the bank would have required interest of 9%. calculate the amount of interest expense the company would record for its year ending december 31, 2024 (rounded to the nearest dollar).
Answer:
$10,125
Explanation:
Given:
IR = 9%
Loan = $450,000
Time = 0.25 Year (October-December is 3 months)
Unknowns:
Interest Expense = ?
Equation:
Interest Expense = (Loan) (Time) (Interest Rate)
Interest Expense = (450000)(0.25)(0.9) = 10,125
Solution:
Interest Expense = $10,125
The amount of interest expense the company would record for its year ending December 31, 2024, is $10,125.
What is interest expense?The cost of obtaining financing is calculated as the total amount of interest paid on a mortgage or other debt over a specific time period. In most cases, interest expenditure is reported on a company's income statement.
To calculate interest expense it is given that
interest rate = 9%
loan amount= 450000
time = 0.25years
In the given case, Since the loan was taken out in October and the fiscal year ends in December, the interest charge will be $10,125 for a period of three months, or 0.25 years.
Interest charge = 450000* 0.25 * 0.09
=$10,125.
Therefore, the amount for interest expense will be $10,125.
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a company had net sales of $29,800 and accounts receivable of $4,400 for the current period. its days' sales uncollected equals: (use 365 days a year.)
Days' sales uncollected means the average collection period. It means how many days are required to collect the cash for its sales.
This can be calculated using two items which are account receivables and net sales. Account receivables are the proceeds of payment to be received from customers who have been sold goods on credit. Net sales are the gross sales minus returns, discounts and interests.
In this ques, days' sales uncollected equals 53.874 days which is approximately 54 days.
It is given that the net sales of the company are $29800 and account receivables are $4400.
Days' sales uncollected can be calculated as:
= (AR÷NS)×365
where, AR= Account receivables
NS = Net Sales
In this ques,
AR = $4400
NS = $29800
Thus,
Days' sales uncollected = (AR÷NS)×365
= (4400÷29800)×365
= 0.1476 ×365
= 53.874
Thus, days' sales uncollected equals 53.874 days which is approximately 54 days.
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