Answer and Explanation:
The journal entries are shown below:
a. Note receivable Dr $3,800,000
To Cash $3,800,000
(Being the acceptance of the note is recorded)
For recording this we debited the note receivable as it increased the assets and credited the cash as it decreased the liabilities
b. Interest receivable Dr $38,000
To Interest revenue $38,000
(Being the interest revenue is recorded)
For recording this we debited the interest receivable as it increased the assets and credited the interest revenue as it increased the revenue
The computation is shown below:
= $3,800,000 × 6% × 2 months ÷ 12 months
= $38,000
,
Answer:
Explanation:
1.Price: check if our price is still within the range of what our customers can afford or budget for.
2.Promotion: Does our customers or potential customers still view our advertisements.
3.Product: is our product still relevant and up to date when it comes to services and software.
4.Customers: Talk about our target audience, is there any change?
5.Competition: what are our competitors doing, why do customers prefer them to us
Answer:
2.64%
Explanation:
A = P(1 + r)^n
A = $12,000
P = $10,000
n = 7 years
12,000 = 10,000(1 + r)^7
(1 + r)^7 = 12,000/10,000 = 1.2
(1 + r)^7 = 1.2
1 + r = (1.2)^1/7
I + r = 1.0264
r = 1.0264 - 1 = 0.0264
r = 0.0264 × 100 = 2.64%
Answer:
D : $600,000 loss
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
So,The net income or net loss would be
= Net income - research and development costs
= $2,400,000 - $3,000,000
= $600,000 loss
Answer:
$9,000,045
Explanation:
You will need more than HALF of the shares to win.
400,000 shares are there
Half of it:
400,000/2 = 200,000 shares
You would need 1 more to it, so:
Shares needed = 200000 + 1 = 200,001 shares
Total Cost would be the number of shares needed multiplied by the price of each share.
So,
<u>Total Cost = 200,001 * 45 = $9,000,045</u>