a. The cash that Abardeen pay for interest in Year 1 is $0.
b. Interest expense that was recognized is $2,825.
c The Total liabilities was reported is $115,825.
d. The amount of cash was paid to the bank is $118,650.
e. The amount of interest expense was reported is $2,825.
a. The amount of cash that Abardeen pay for interest in Year 1 is $0 reason being that the interest matured on March 31, 2017.
b. Interest expense:
Interest expense=($113,000 x 10% x 3 months /12)
Interest expense=$2,825
c. Total liabilities
Total liabilities= $113,000 + $2,825
Total liabilities = $115,825
d. Cash that was paid to the bank on March 31, 2017:
Cash= $113,000 Principal + ($113,000 × 10% × 6/12)] Interest
Cash= $113,000 Principal +$5,650 interest
Cash= $118,650
e. Interest expense reported on the 2017 income statement:
Interest expense=$113,000 × 10% ×3/12
Interest expense=$2,825
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A major advantage of the corporate form of ownership is ______. Multiple choice question. unlimited legal liability ease of formation limited life limited legal liability that corporate earnings aren't taxed until they are distributed to owners as dividends
The major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
The corporate form of ownership means a business/organization that is operating as a legal entity, that is, it is run separate from the parties who own it.
In other word, the corporation which operates as legal entity is created for purpose of operating for profit for individuals, stockholders, shareholders etc
Some advantages of corporation includes
Owners has limited liability.The easy transfer of ownership.The corporations usually lasts forever.In conclusion, the major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
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a wifi router has a mtbf of 10 months. What is the availability if the mttr is 12 hours and the number of days in a month is 30 ?
Answer:
40
Explanation:
Answer:
MTBF = 30 days = 30 * 24 = 720 hour. MTTR = 12 hour. i.e. A = 720 / (720 + 12) = 0.9836 = 98.36%
Bada bing, Bada
a printed order for payment of a specified sum,facilitaded by the bank ir post office
Your brother rarely filters his observations and often makes insensitive comments that
offend others. What skill does he need to work on?
ed
a. Code-switching
b. Self-monitoring
c. Multimodality
d. Circumscribing
Considering the situation described above, my brother needs to work on Self-Monitoring.
This is because Self-Monitoring is a term often used in sociology to describe the ability to is a personality trait that involves monitoring and regulating personal presentations, emotions, and attitudes towards his social environments and situations.
By mastering the habit of Self-Monitoring, my brother would be aware of his words, behaviors, and emotions towards its effects on the people around him.
Hence, in this case, it is concluded that the correct answer is "Self-Monitoring."
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The appropriate section in the statement of cash flows for reporting the purchase of land in exchange for common stock is: Multiple Choice Operating activities. Financing activities. Investing activities. In a note to the statement or in a separate schedule. Reconciliation of cash balance.
The purchase of land in exchange for common stock should be adequately reported in cash flows statement through the Schedule of Non-cash investing or financing activity.
Basically, the non-cash investing and financing activities entails use of some financial tools (not cash) to make an investment or purchase.
The examples of transaction reported as non-cash investing and financing activities is taking out of loan or signing a note payable.In conclusion, the purchase of land in exchange for common stock should be reported in the schedule of Non-cash investing or financing activity.
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Examples of variable costs include all the following except: A. the plant manager's salary. B. direct labor costs. C. electricity used in running production machinery. D. raw materials costs.
Examples of variable costs include all of the following except the plant manager's salary, which is an example of a fixed cost, which is an expense that does not change regardless of other related factors.
Other examples such as direct labor costs, costs of electricity used in the operation of production machines and raw material costs are variable costs, which are values that change according to the quantity of products or services sold.
Fixed costs, on the other hand, are related to costs that do not vary, that is, they remain the same regardless of the production volume, so the plant manager's salary is an example of fixed cost.
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Wrinkles Away Inc. is entering a foreign market and is spending significant funds on educating customers about their line of wrinkle-reducing skincare products. These costs are an example of _____ costs.
The costs that Wrinkles away is spending to educate customers is what is referred to as the pioneering costs.
The pioneering costs are those costs that come up due to the fact that the foreign business is way different from what works in the home market.
As a result of this, the business firm has to spend quite an amount of its financial, time and effort resources to learn more about the market.
The business has to send its money to educate the users on the product that they have in the market.
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The CEO of Tough Mudder believes that teams in his company are not working as effectively as they could, and he is asking you for advice. Provide the best answer to his question.
“Our teams in different countries have learned a great deal, so I am putting together an international team to study and share the best practices that have been developed. This team will have people from each continent where we operate. How should I plan to manage this team?”
a. To promote a sense of privacy, do not monitor online team communications. Keep information that may change frequently to yourself, as sharing it would be confusing.
b. Speak about everyone on the team as though they are the same to help team members feel they are being treated equally. Do not single people out for special recognition.
c. Encourage team members to socialize online by sharing photos and videos. Reach out to people from cultures where proactively sharing ideas is not valued.
d. Understand that some people use online technology more than others and cannot be expected to participate as much. Accept that Internet culture often involves “trolling,” or disrespectful disagreement, and do not interfere if this happens.
Answer:
c. Encourage team members to socialize online by sharing photos and videos. Reach out to people from cultures where proactively sharing ideas is not valued.
Which of the following is NOT considered to be one of the main revenue centers at most financial institutions?
Review Later
Wealth management
Capital markets & Investment banking
Digital marketing
Commercial banking
Answer:
money and credit markets,investments,financial management
Explanation:
Finance consists of three interrelated areas: (1) money and credit markets, which deals with the securities markets and financial institutions; (2) investments, which focuses on the decisions made by both individuals and institutional investors; and (3) financial management, which involves decisions made within the ...
When reporting inventory using the lower of cost or market method, market should not be more than: Multiple Choice Replacement cost. Net realizable value. Selling price. Net realizable value less a normal profit margin.
Considering the accounting principle, when reporting inventory using the lower cost or market method, the market should not be more than "Net realizable value less a normal profit margin."
This is because the lower cost or market method is a method that emphasizes that during the inventory measurement, inventory should be documented on the balance sheet using their historical price or the market value, that is, the value of the inventory when purchased.
This implies that the replacement cost of inventory cannot be lower than net realizable value, less a normal profit margin.
Hence, in this case, it is concluded that the correct answer is option D. "Net realizable value less a normal profit margin."
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