Norwood, Inc. signs a $12,000, 11.5%, six-month note dated November 1, 2018. The interest expense recorded for this note in 2018 will be any intermediate calculations, and round your final answer to the nearest dollar.)
A. $230 B. $690 C. $1,380 D. $460
Answers
Given data:Principal amount = $12,000Annual interest rate = 11.5%Duration of the note = 6 months since the duration of the note is 6 months, to get the interest expense for the year 2018.
We need to calculate the interest expense for 6 months and double the value as shown below:Interest expense = Principal × Annual interest rate × Time taken in years= $12,000 × 11.5% × (6/12) = $690Thus, the interest expense recorded for this note in 2018 will be $690. The interest expense recorded for the $12,000, 11.5%, six-month note dated November 1, 2018, in 2018 is calculated as follows:Interest expense = Principal × Annual interest rate × Time taken in years. Since the duration of the note is 6 months, the time taken in years is 6/12 = 0.5 years. Plugging in the values, we have:Interest expense = $12,000 × 11.5% × 0.5= $690Therefore, the interest expense recorded for this note in 2018 is $690.
Thus, the correct answer is option B, i.e., $690.
Learn more about Interest expense here:
brainly.com/question/29492215
#SPJ11
Related Questions
In class, Marcus is skilled at picking up main ideas and important details from his teachers' lectures. What is this called?
Answers
Answer:
This would observation, which is something most readers should be able to do
Explanation:
a service was performed for a client with payment due in 30 days what accounts are affected
a) debit Capital, Credit bank
b) debit accounts receivable, credit capital
c) debit Bank, credit accounts receivable
d) credit accounts payable, debit capital
Answers
Answer:
b) debit accounts receivable, credit capital
Explanation:
Performing service is part of normal business activities. It generates revenue for the business.
Once a service has been performed, revenue increases. Revenue is an equity account (it increases the owner's equity). An increase to an equity account is recorded by crediting the account.
The payment will be received in 30 days. This is an increase in accounts receivables ( asset account). An increase in assets is recorded as a debit.
A(n) ________ situation in b2b marketing is similar to limited decision making in the b2c process.
Answers
A modified re buy situation in B2B marketing is similar to limited decision making in the B2C process.
B2B: Because buying a product or service has a commercial purpose, the sale requires a rational analysis, more time to think about it, and ongoing support from the seller. Numerous business functions are involved in the decision. B2C: Typically, the sale is more impulsive than rational.
The buying process between B2B and B2C is typically more formal. Buyers use the RFP procedure to let customers participate in the creation of value. A formal vendor analysis is the final stage of the B2B buying process. The culture of an organization may differ by location.
Learn more about B2B marketing :
brainly.com/question/28802425
#SPJ4
Discuss the three characteristics of market economy
Answers
Answer:
Key Takeaways
A market economy functions under the laws of supply and demand.
It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.
Competition drives the market economy as it optimizes efficiency and innovation.
Explanation:
Hope this helps! Have a great day!
Which Transportation Company Classification is described as a person or company specializing in transporting commodities exempt from regulation by the Interstate Commerce Act
Answers
The classification of transportation companies that specializes in transporting commodities exempt from regulation by the Interstate Commerce Act is known as the "Exempt Carrier".
An Exempt Carrier is defined as a person or company that transports certain goods or commodities that are not subject to regulation by the Federal Motor Carrier Safety Administration (FMCSA) under the Interstate Commerce Act. These commodities include agricultural products, livestock, and certain types of equipment and machinery.
The Interstate Commerce Act is a federal law that regulates the transportation of goods and people across state lines. It was enacted in 1887 to regulate the railroad industry and later expanded to include trucking and other forms of transportation. The Act established the Interstate Commerce Commission (ICC), which was responsible for regulating the rates and services of common carriers engaged in interstate commerce.
The Exempt Carrier classification is an important one for transportation companies because it allows them to operate without some of the regulatory burdens imposed by the ICC. This exemption applies to carriers that transport only exempt commodities and do not engage in other forms of transportation that fall under the ICC's jurisdiction.
In conclusion, the Exempt Carrier classification refers to transportation companies that specialize in transporting commodities exempt from regulation by the Interstate Commerce Act. This exemption allows carriers to operate without some of the regulatory burdens imposed by the ICC.
To know more about transportation, visit https://brainly.com/question/3521961
#SPJ11
the written statements that define the extent and quality of work to be done are called the ?
Answers
Answer:
Specifications.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The fundamentals of Project Management are considered universal across most businesses and professions.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
In project management, the written statements that define the extent and quality of work to be done are called the specifications.
Basically, the specifications of a project or manufacturing process outlines the minimum requirements and quality that are acceptable. Thus, it must be adhered to strictly in order to achieve a successful and desired outcome.
Commenced business with cash of Rs 20,000 and Goods worth Rs 25,000
Answers
Answer:
Whats the question
Explanation:
What is the primary purpose of ABC's T.R.A.C.E. program?
Answers
The primary purpose of ABC's TRACE program is to identify and investigate where persons under 21 years of age obtained alcohol and who was killed or obtained serious injury or accident.
What is the ABC's TRACE program?The program involves a protocol that allows first responders to respond immediately by notifying ABC when an incident involves a person under 21 and an alcoholic beverage that results in great bodily injury or death.
Hence, the primary purpose of ABC's TRACE program is to identify and investigate where persons under 21 years of age obtained alcohol and who was killed or obtained serious injury or accident.
Read more about ABC program
brainly.com/question/4316039
#SPJ1
What does a credit card company consider when you apply for a card? A.Which companies you have credit cards from already B.Whether you will pay off your balance in full every month C.How many credit cards you have applied for D.The name of the company where you work
Answers
Internships are usually paid.
True or False
Answers
Answer:
Depending on you're position. Can not be paid
Explanation:
Although Many Employee's do pay their interns, and some of there companies recognize the value in training for somebody became an after they finished college.
the logistics process of recycling or disposing of returns from customers or from resellers is known as
Answers
The logistics process of recycling or disposing of returns from customers or from resellers is known as reverse logistics.
What is the reverse logistics process?Reverse logistics, as it is commonly known, is the movement of commodities away from their usual final location in order to increase their value or ensure correct disposal. The management and sale of excess inventory or raw materials, as well as the delivery of rented machinery, equipment, and other hardware back to the leasing company, are all included in reverse logistics. Another name for it is returned.
Every e-commerce fulfillment operation needs management to be successful. An order's return procedure is known as reverse logistics. Moving the product back to its place of origin once it leaves the client is known as this process. Reverse logistics, in essence, is the handling or process of an item after the initial sale.
To learn more about reverse logistics, visit:
https://brainly.com/question/15888400
#SPJ4
If the price elasticity of demand for a good is 0.25, then a 20 percent decrease in price results in a
A. 0.0125 percent increase in the quantity demanded.
B. 4 percent increase in the quantity demanded.
C. 5 percent increase in the quantity demanded.
D. 80 percent increase in the quantity demanded.
Answers
Answer:
B
Explanation:
100÷2=5 because if 20 percent was decreased then the quantity must have increased by 5 due to difference
Why is it important to have insurance?
It's important to have insurance so people can
protect themselves from losing a lot of money in
the event of an unpredictable event or something
happens to them or their property.
So individuals can defend against the possibility of
financial loss due to unpredictable event
So people can engage in risky behavior without
financial consequences
A and B
Answers
It's important to have insurance so people can protect themselves from losing a lot of money in the event of an unpredictable event or something that happens to them or their property. So individuals can defend against the possibility of financial loss due to unpredictable events. The correct options are a and b.
What is insurance?Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.
It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Learn more about insurance, here:
https://brainly.com/question/27822778
#SPJ1
Assume there are external benefits associated with the production of Good X. Without government regulation, the market will: produce too much of Good X. produce too much of Good X. price Good X less than the marginal social cost. price Good X less than the marginal social cost. produce too little of Good X. produce too little of Good X. price Good X greater than the marginal cost. price Good X greater than the marginal cost.
Answers
Answer:
produce too little of Good X. produce too little of Good X.
Explanation:
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
How do you say no .....without saying no in PERSON?
Answers
Answer:
You can say it through a text, a phone call, an email, or a letter.
Explanation:
Answer:
Text, call, Facetime, voice message
Which is the most important decision factor in transportation?
A.capacity
B. Cost
C.capability
D.reliability
Answers
To avoid debt, a new business owner should have enough projected revenue to cover expences for the first
A) 6 months
B) year
C) 2 years
D) 5 years
⚠️THIS IS FOR SCHOOL. NO TROLL ANSWERS OR LESS YOU WILL BE REPORTED.⚠️
Answers
Answer:
b) a year
Explanation:
to be merchantable, goods must be at least average, fair, or medium-grade quality.
Answers
To be considered merchantable, goods must meet a minimum standard of average, fair, or medium-grade quality.
The concept of merchantability refers to the quality of goods that are being sold in the market. For goods to be considered merchantable, they need to meet a certain minimum standard of quality.
This standard is generally defined as being at least of average, fair, or medium-grade quality. In other words, the goods should be of a level that is deemed acceptable for sale and use by consumers.
This requirement ensures that the goods are fit for their intended purpose and meet the reasonable expectations of buyers. The specific criteria for merchantability may vary depending on the industry, product type, and consumer expectations.
Visit here to learn more about consumers:
brainly.com/question/17629073
#SPJ11
A cash flow statement can help you develop and determine budget categories.
a. True
O b. False
Answers
A comparative balance sheet for Anthro Corp. follows. Net income for 2020 was $25,000, and cash dividends of $10,000 were paid in 2020. No buildings and equipment were sold in 2020 and land was sold at cost.
Please prepare a statement of cash flows for the year using the indirect method to present cash flows from operating activities.
Indirect Method - Preparing a Statement of Cash Flov A comparative balance sheet for Anthro Corp. follows. Ne Comparative Balance Sheet December 31 2019 2020 Assets Cash $20,000 $38,000 Accounts receivable 150,000 170,000 Inventory 200,000 230,000 Land 85,000 70,000 Building and equipment 175,000 200,000 Accumulated depreciation (65,000) (80,000) Total assets $565,000 $628,000 Liabilities and Stockholders' Equity Accounts payable $75,000 $90,000 Income taxes payable 42,000 30,000 Notes payable (long-term) 80,000 100,000 Preferred stock 75,000 75,000 Common stock (no-par) 175,000 200,000 Retained earnings 118,000 133,000 Total liabilities and stockholders' equity $565,000 $628,000 Prepare a statement of cash flows for the year ended Dece 55°F Mostly sunny Prepare a statement of cash flows for the year ended Decemb $ 0 0 0 Statement of Cash Flows For Year Ended December 31, 2020 Cash flows from operating activities Net income Adjustments: Depreciation expense Increase in accounts receivable Increase in inventory Increase in accounts payable Decrease in income taxes payable Net cash provided (used) by operating activities Cash flows from investing activities Sale of land Purchase of building and equipment Net cash provided (used) by investing activities Cash flows from financing activities Issuance on long-term debt issuance Issuance of common stock Cash paid for dividends Net cash provided (used) by financing activities Net increase in cash during 2020 Cash, January 1, 2020 Cash, December 31, 2020 0 0 0 0 0 0 0 0 0 0 $ 0 Previous Save Answers
Answers
Statement of Cash Flows For Year Ended December 31, 2020 .Cash flows from operating activities: Net income: $25,000
Adjustments:
Depreciation expense: ($80,000 - $65,000) = $15,000
Increase in accounts receivable: ($170,000 - $150,000) = -$20,000
Increase in inventory: ($230,000 - $200,000) = -$30,000
Increase in accounts payable: ($90,000 - $75,000) = $15,000
Decrease in income taxes payable: ($30,000 - $42,000) = -$12,000
Net cash provided (used) by operating activities: $25,000 + $15,000 - $20,000 - $30,000 + $15,000 - $12,000 = -$7,000
Cash flows from investing activities:
Sale of land: $0 (sold at cost)
Purchase of building and equipment: ($200,000 - $175,000) = -$25,000
Net cash provided (used) by investing activities: -$25,000
Cash flows from financing activities:
Issuance of long-term debt: ($100,000 - $80,000) = $20,000
Issuance of common stock: ($200,000 - $175,000) = $25,000
Cash paid for dividends: -$10,000
Net cash provided (used) by financing activities: $20,000 + $25,000 - $10,000 = $35,000
Net increase in cash during 2020: -$7,000 - $25,000 + $35,000 = $3,000
Cash, January 1, 2020: $20,000
Cash, December 31, 2020: $20,000 + $3,000 = $23,000
Learn more about Cash Flows here:
https://brainly.com/question/29768594
#SPJ11
Which economic system best defines: Lowest amount of economic freedom?
Answers
Answer:
command economy
Explanation:
In a command economy, the government is the only determinant of what is to be produced, its quantity, and price. All the factors of production belong to the government. The government or the central authority creates a central plan that guides all country's economic activities and decisions.
The private sector is absent in a command economy. The government is the only employer. Citizens do not have the freedom to choose what to buy, but rather what is available.
What is the name of the document which establishes the processes for selling stock, should the need arise
Answers
The name of the document which establishes the processes for selling stock, should the need arise is a Prospectus
What is a prospectus?A prospectus is a formal document that is required by and filed with the Securities and Exchange Commission (SEC) that gives explicit details about an investment offering to the public.
This document is very useful to investors because it provides and insight of the risks involved with investing in the security or fund.
Learn more about a prospectus at https://brainly.com/question/25688423
Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. Twenty-year mortgage for $210,000 at 3.54%; remaining balance after 12 years. The monthly payment is $ (Round to the nearest cent as needed.)
Answers
Given that a twenty-year mortgage for $210,000 at 3.54% and we are to determine the monthly payment and estimate the remaining balance, assume interest is on the unpaid balance and the remaining balance after 12 years.To find the monthly payment:
To find the monthly payment, we need to use the formula;PMT = (P * r) / [1 - (1+r)^(-n)]Where;PMT = monthly paymentP = principle amountr = interest raten = total number of paymentsP = $210,000r = 3.54% / 12 months = 0.00295n = 20 years * 12 months = 240 monthsPMT = (210000 * 0.00295) / [1 - (1 + 0.00295)^(-240)]= $1205.47The monthly payment is $1,205.47 (rounded to the nearest cent as needed)
To estimate the remaining balance:To estimate the remaining balance after 12 years, we need to use the formula;B = P * (1 + r)n - [PMT * {(1 + r)n - 1}/r]Where;B = remaining balanceP = principle amountr = interest raten = total number of paymentsPMT = monthly paymentn = number of payments madeB = 210000 * (1 + 0.00295)^144 - [1205.47 * {(1 + 0.00295)^144 - 1}/0.00295]= $129,608.67Thus, the remaining balance after 12 years is $129,608.67.
TO know more about that mortgage visit:
https://brainly.com/question/31112455
#SPJ11
Is profit the same as cash flow?
Answers
Answer:
No
Explanation:
Cash flow refers to the money that flows in and out of your business. It's income and expenses.
Profit, however, is the money you have after deducting your business expenses from overall revenue. Both are important, but cash flow is essential to keep your business running in the here and now.
Assume the economy is operating at P1Y2.
Which of the following would cause a shift to bring the economy to P3Yf?
Real wages fall.
Productivity increases.
Personal income taxes increase.
Transfer payments decrease.
A major hurricane hits the southeastern United States.
Answers
The decrease in aggregate demand would also reduce productivity and lead to a decrease in output and employment.
What is employment?Employment is an agreement between two parties, usually based on a contract, where work is exchanged for compensation, such as wages, salary, or commission. Employment is typically for a fixed period of time, and the employer usually has the right to dismiss an employee for a legitimate reason. Employment typically involves an exchange of services, knowledge, skills and experience for remuneration. Employment can be either full-time, part-time, or casual, depending on the type of job and the agreement between the employer and the employee.
A major hurricane hitting the southeastern United States would cause a shift to bring the economy to P3Yf as it would reduce aggregate demand in the affected areas, resulting in a decrease in consumption and investment spending. This would lead to a contraction in output and employment, resulting in a decrease in real wages, a decrease in transfer payments, and an increase in personal income taxes.
To learn more about employment
https://brainly.com/question/29318513
#SPJ1
g consider a two-year disinflation. in the first year pi = 0.04 and pi = 0.08. in the second year pi = 0.04 and pi =0.04. find unemployment rate in the first year
Answers
To calculate the unemployment rate in the first year, we can use the Phillips Curve, which shows the inverse relationship between inflation (π) and unemployment rate.
The Phillips Curve can be expressed as follows:
π - πe = -α (u - u*)
Where:
π = actual inflation rate
πe = expected inflation rate
α = a positive constant
u = actual unemployment rate
u* = natural rate of unemployment
In the first year, π = 0.04 and πe = 0.08. We need to find the unemployment rate (u). However, we don't have the values for α and u*. Without these values, we cannot directly calculate the unemployment rate using this equation.
Please provide the values for α and u* to continue with the calculation, or more information about the scenario to estimate these values.
To know more about Phillips Curve:
https://brainly.com/question/29432628
#SPJ11
Which level of government funds the health care available to Native American tribes and Alaskan Natives
OA. state
OB. federal
OC. local
O D. tribal
Answers
Answer:
Explanation:
The Federal Government
Identify whether the account is increased with a debit (DR) or credit (CR).
a. Interest Revenue b. Accounts Payable c. Calhoun, Capital d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Calhoun, Withdrawals j. Service Revenue
Answers
a. Interest Revenue - CR (credit)
b. Accounts Payable - CR (credit)
c. Calhoun, Capital - CR (credit)
d. Office Supplies - DR (debit)
e. Advertising Expense - DR (debit)
f. Unearned Revenue - CR (credit)
g. Prepaid Rent - DR (debit)
h. Utilities Expense - DR (debit)
i. Calhoun, Withdrawals - DR (debit)
j. Service Revenue - CR (credit)
Debit and Credit accountThe account is increased with a debit (DR) or credit (CR) depending on the type of account.
Here is a list of the accounts mentioned in the question and whether they are increased with a debit or credit:
a. Interest Revenue - CR (credit)
b. Accounts Payable - CR (credit)
c. Calhoun, Capital - CR (credit)
d. Office Supplies - DR (debit)
e. Advertising Expense - DR (debit)
f. Unearned Revenue - CR (credit)
g. Prepaid Rent - DR (debit)
h. Utilities Expense - DR (debit)
i. Calhoun, Withdrawals - DR (debit)
j. Service Revenue - CR (credit)
Remember that assets, expenses, and withdrawals are increased with a debit, while liabilities, equity, and revenue are increased with a credit.
Learn more about debit at
https://brainly.com/question/29830330
#SPJ11
Which is an example of specialty media?
a) T-shirts with a store logo on them
b) A satellite television ad
c) A "midnight madness" sale
Answers
Answer:
a) T-shirts with a store logo on them
Hope it helps...
Chapter 9 Pricing, Costing, and Growth.
It’s 10 questions - multiple choice and thank you !
I will give you brainliest if you answer all 10 (:
Answers
Answer:
b, b, c, a, d, c, b, d, a, c,
Explanation: