Copper Industries has the following transactions related to notes receivables in November 2020 01-Nov. Borrowed Arthur James $60,000 cash on a 1-year, 5% note. Interest is due the first of each month commencing December 1. 15-Nov. Sold goods to J. Mardock, receiving a $9,000,4-month, 4% note. Interest is due the 15 of each month, commencing December 15. The merchandise cost $6,000 and the company uses perpetual inventory system. 30-Nov Accrued interest income on the notes receivable (Nov 1 and Nov 15). Show your Nov calculations.
Answers
In November 2020, Copper Industries earned $2,530 in interest income on notes receivable from Arthur James and J. Mardock, and accrued interest on both notes.
The calculations of Copper Industries' notes receivables for the month of November 2020 are as follows:
1. Calculating the interest income on the notes receivable of Arthur James:
- The amount of the note receivable borrowed from Arthur James on Nov 1 is $60,000.
- The annual interest rate on the note is 5%.
- Interest for one month on this note receivable will be calculated as: $60,000 × 5% ÷ 12 = $2,500.
- So, the interest income for November 1 will be $2,500.
2. Calculating the interest income on the notes receivable of J. Mardock:
- The amount of the notes receivable sold to J. Mardock on Nov 15 is $9,000.
- The annual interest rate on this note is 4%.
- Interest for one month on this note receivable will be calculated as: $9,000 × 4% ÷ 12 = $30.
- So, the interest income for November 15 will be $30.
3. Calculating the cost of merchandise sold to J. Mardock:
- The cost of merchandise sold to J. Mardock is $6,000.
4. Accrued interest income on the notes receivable:
- The accrued interest income for the month of November for both notes receivable will be calculated as:
Accrued interest income = Interest income on Nov 1 + Interest income on Nov 15 = $2,500 + $30 = $2,530.
Hence, the calculations of Copper Industries' notes receivables for the month of November 2020 are $2,530.
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Related Questions
Recommend ONE strategy a manager could implement to reconcile the conflicting interests of the business with society.
Answers
One strategy a manager could implement to reconcile the conflicting interests of the business with society is to adopt a Corporate Social Responsibility (CSR) approach.
What is a Corporate Social Responsibility (CSR)?One way a manager could implement CSR is by identifying the key stakeholders of the business, including employees, customers, suppliers, communities, and the environment. By considering the needs and interests of these stakeholders in the company's decision-making processes, the business can strive to create value for all stakeholders, rather than just maximizing profits for shareholders.
Additionally, the manager could implement sustainability initiatives, such as reducing the company's carbon footprint, promoting ethical sourcing and production practices, and supporting local communities through charitable donations or volunteerism.
By adopting a CSR approach, the manager can help to create a more sustainable and equitable business model that considers the interests of both the business and society.
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Melanie's country has recently gone through a change in governance. The new government has enacted policies to reduce barriers to
International trade, which will boost its economy. What type of trade policies has Melanie's country adopted?
Melanie's country has adopted
policies by reducing international trade barriers.
Answers
A trade barriers reducing policy is the policies that the Melanie's country has adopted to reduce international trade barriers.
What are trade barriers?A trade barrier refers to a natural barrier or imposed restraint by government on the flow of international goods or services.
Some examples of trade barrier includes import quotas, embargoes, buy-national regulations, distance, language etc.
In conclusion, a trade barriers reducing policy is the policies that the Melanie's country has adopted to reduce international trade barriers.
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How can companies balance the importance of maintaining Filipino values in their business practices with the need to remain competitive in the global market?
Answers
Answer: Through
Embed Filipino values in the company culture, Conduct market research, etc.
Explaneation: Balancing the importance of maintaining Filipino values in business practices with the need to remain competitive in the global market can be a challenge for companies. However, there are several strategies that companies can adopt to achieve this balance:
Embed Filipino values in the company culture: Companies can embed Filipino values such as respect for elders, integrity, and hard work in their organizational culture. This can be done by creating a code of conduct that incorporates these values, providing training and development programs that reinforce them, and recognizing employees who embody these values.
Conduct market research: Companies can conduct market research to understand the values and preferences of their target market. This can help them identify which Filipino values are important to their customers and how they can incorporate them into their products and services.
Embrace innovation: Companies can embrace innovation and new technologies to improve their competitiveness in the global market. However, they can also ensure that these innovations align with Filipino values, such as environmental sustainability and social responsibility.
Collaborate with local communities: Companies can collaborate with local communities to better understand Filipino values and customs. This can help them develop products and services that are culturally appropriate and resonate with local customers.
Practice corporate social responsibility: Companies can practice corporate social responsibility by giving back to the community and supporting social causes. This can help them build a positive reputation and foster goodwill among customers, while also demonstrating their commitment to Filipino values.
By adopting these strategies, companies can balance the importance of maintaining Filipino values in their business practices with the need to remain competitive in the global market
antonia owns a piece of land, some human-made additions including a new deck, and has the full bundle of rights associated with ownership. because she owns all three elements, antonia owns:
Answers
Antonia owns the land, the human-made additions (new deck), and the full bundle of rights associated with ownership.
Antonia's ownership includes all three elements: the land itself, any human-made additions or improvements (such as the new deck), and the full bundle of rights that come with property ownership.
means she has the legal rights to possess, use, transfer, and exclude others from her property.
A fee simple estate is the most complete form of ownership of real property. It gives the owner the right to use, possess, enjoy, and dispose of the property as they see fit. This includes the right to sell, lease, or mortgage the property, as well as the right to build on the property or make other improvements.
The three elements that Antonia owns are:
Land: This is the physical land itself, including the soil, rocks, and minerals below the surface. Improvements: These are the human-made additions to the land, such as buildings, structures, and fixtures.
Bundle of rights: This is the collection of rights that come with owning real property. These rights include the right to use, possess, enjoy, and dispose of the property as well as the right to build on the property or make other improvements. Because Antonia owns all three elements, she owns a fee simple estate.
Here are some other types of estates that Antonia could own:
Fee simple absolute: This is the most complete form of ownership of real property. The owner has the same rights as a fee simple estate, but they also have the right to prevent the property from being taken for public use.
Fee simple defeasible: This is a type of fee simple estate that can be terminated if certain conditions are met. For example, a fee simple defeasible might be terminated if the owner fails to pay property taxes. Life estate: This is a type of estate that lasts for the life of the owner. After the owner dies, the property goes to the person who has the remainder interest.
Leasehold estate: This is a type of estate that gives the owner the right to use the property for a specified period of time. After the lease expires, the property goes back to the owner.
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What is the primary duty of a public relations specialist?
A. To create advertising concepts
B. To deliver marketing messages
C. To communicate business activities with the press
D. To oversee graphic design tasks
Answers
Answer:
B. To deliver marketing messages
Explanation:
A public relation specialist is a professional who portrays goods and services in a good light/form to the public. This helps to create awareness and encourages the general public to buy such products.
Public relation specialist ensures that the company has a good relationship between the stakeholders, staffs and the general public thereby avoiding any type of clash.
What should you avoid using when writing a formal email?
O An official signature
O Emojis
O Familiar acronyms
O Last names
Answers
Emojis are not formal and they should not go in a formal email
Answer:
emojis
Explanation:
In 2015, ______ percent of 16- to -24-year-olds reported having dropped out of school. multiple choice question.
Answers
In 2015, the percentage of 16- to 24-year-olds who reported having dropped out of school was [6.1%]
Dropping out of school is a significant concern as it can have long-lasting consequences on individuals' educational and economic prospects. In 2015, approximately 6.1% of 16- to 24-year-olds reported not being enrolled in school and not having completed a high school program. This percentage represents a portion of young individuals who did not attain a high school diploma or equivalent credential.
Dropping out of school can limit job opportunities and earning potential, as individuals without a high school diploma often face more significant challenges in the job market. Furthermore, completing high school provides a foundation for further education and training, enabling individuals to pursue higher education or vocational programs.
Efforts to reduce the dropout rate focus on interventions and support systems that address the underlying factors contributing to students leaving school prematurely. These may include providing academic support, mentorship programs, career guidance, and addressing issues related to school climate and engagement.
_6.1%_ percent of 16- to -24-year-olds reported having dropped out of school. multiple choice question
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An employee in charge of collecting tickets at the entrance of a movie theatre lets her friends enter the theatre without paying for tickets. She thinks it is fine to do so because the employees at the popcorn bar give free popcorn to their friends. This type of rationalization is based on
Answers
The type of rationalization made by the employee is based on other employee are doing it.
Rationalization refers to when individual attempt to justify a behavior with logical reasons even though those reason are not appropriate.
Here, the employee does rationalize giving free entry to her friend because other employee gives free popcorn to their friends.Hence, the type of rationalization made by the employee is based on other employee are doing it.
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HELPPPP
In order to comply with all hospitality laws, all hotels must have a full-service restaurant on the premises.
A. True
B. False
Answers
Answer:
b false this is the answer
True or False. The MIS decision component referred to as hardware consists of input/output devices, CPU, operating system, and media devices.
Answers
The given statement "The MIS decision component referred to as hardware consists of input/output devices, CPU, operating system, and media devices" is TRUE because these elements are crucial for processing, storing, and communicating information within the system.
Understanding the MIS decision componentThe MIS decision component referred to as hardware is made up of various physical components that work together to facilitate the processing and storage of data.
This includes input/output devices such as keyboards, mice, and monitors, as well as the central processing unit (CPU), which is responsible for executing instructions and performing calculations.
The operating system provides a platform for software applications to run on, and media devices such as hard drives and USB drives are used to store data.
All of these hardware components work together to enable effective decision making by providing a reliable and efficient platform for processing and accessing data.
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Which of the following investments do you prefer? (a) Purchase a bond with a single payment of $1000 in ten years, for a price of $550. (b) Invest $550 for ten years in PNC Bank at a guaranteed annual interest rate of 4.5%.
Answers
Option (b) is investing $550 for ten years in PNC Bank at a guaranteed annual interest rate of 4.5%. This investment will earn a fixed annual return of 4.5% over the ten-year period, making it the preferred option.
To determine the preferred investment, we need to compare the potential returns and risks associated with each option.
Option (a) involves purchasing a bond with a single payment of $1000 in ten years, for a price of $550. This implies that you are paying $550 upfront to receive $1000 after ten years.
The return on investment is the difference between the final payment and the initial cost, which in this case is $1000 - $550 = $450. However, it's important to consider the risks associated with the bond issuer's ability to repay the full amount after ten years.
Option (b) involves investing $550 for ten years in PNC Bank at a guaranteed annual interest rate of 4.5%. This means that the investment will earn a fixed annual return of 4.5% over the ten-year period.
The return on investment can be calculated using compound interest formulas, taking into account the initial principal, interest rate, and compounding period.
To make an informed decision, it's crucial to consider factors such as the risk associated with the bond issuer, the stability and reliability of PNC Bank, and your risk tolerance.
Additionally, you may want to assess other investment options and their potential returns to determine the best choice for your specific financial goals and circumstances. Therefore, I'll prefer option (b).
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As Lululemon is traditionally a yoga apparel company and Lululemon educators are viewed as educators, performance of yoga poses are included in the selection process. This is an example of
a. Reference checking
b. Application
c. Training
d. Recruitment
e. Testing
Answers
The process of checking for the performance of yoga poses by Lululemon is known as e. Testing.
What is testing?This is a process by which a prospective employer checks to make sure that a prospective employee can do the job.
In checking the yoga poses of people they want to hire, Lululemon is testing to see if the person can be a good educator that would represent the company well.
In conclusion, option E is correct.
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X Company, which uses the gross method and a perpetual inventory system, sold $2,000 of merchandise on account with credit terms of 2/10,n/30. If the customer pays within the discount period and takes the discount, X will record a journal entry that includes ______. (Check all that apply.)
Answers
Answer.
Explanation.
20 Characters long
carlos reported that the industrial wastewater treatment system operated by his employer was no longer operating properly, allowing toxics-laden water to be discharged to the river. he was pleased to see the plant manager, darnell, immediately shut down production for an indefinite period, pending repair of the wastewater treatment system. in this situation, darnell demonstrated
Answers
Darnell demonstrated ethical leadership by immediately shutting down production after Carlos reported that the industrial wastewater treatment system was not functioning properly, allowing toxics-laden water to be discharged to the river.
In this situation, darnell demonstrated Ethical leadership by taking swift action to address the problem of the industrial wastewater treatment system. Shutting down production shows that Darnell prioritized the safety of the community and the environment over the short-term financial interests of the company.
This action is consistent with the principles of corporate social responsibility and ethical behavior. By responding quickly to Carlos's report, Darnell also signaled to employees and stakeholders that the company takes environmental concerns seriously and is committed to ethical and sustainable practices.
Overall, Darnell's actions demonstrate responsible leadership and a commitment to ethical behavior, which can enhance the company's reputation and build trust with stakeholders.
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I have a question about the number 2 pencil
The number 2 pencil is the most popular and widely used pencil out there. But if it's the best pencil, then why do they call it the number 2 pencil?
I have a business idea, I want to make a company called The number 1 pencil, but i need a partner to help me.
It's important that you know good business strategies and are responsible with money. Does anyone want to help me?
Answers
Answer:
its called the number 2 pencil because first is the worst and second is the best
Answer:
lets do it :P
Explanation:
:)
Name three pros and three cons to being in a team.
Answers
Answer:
Explanation:
Pros of being in a team:
As a result of working in a team, individuals are able to pool their knowledge, experience, and resources. as tasks can be completed more efficiently and effectively, This increases productivity, The unique perspectives, skills, and knowledge of each team member are essential when working together. By doing so, new ideas and approaches may be generated that would otherwise not have been considered.In addition to providing emotional support and motivation, team members can provide encouragement and feedback.Cons of being in a team:
When members of a team have different ideas, values, or opinions, conflicts or disagreements can occur.Teamwork requires the team to depend on each other for certain tasks to be completed. Having unresponsive or unavailable team members can be frustrating.In a team, some members may contribute more than others, which can lead to feelings of resentment or frustration. Additionally, some team members may rely too heavily on others, which can lead to a power imbalance.To learn more about the dynamics of TEAM,
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True or false: Detailed work rules under job control unionism describe how seniority systems operate.
Answers
True. Detailed work rules under job control unionism describe how seniority systems operate.
What is unionism?Community unionism is the forming of coalitions between unions and non-labour organizations in order to accomplish shared objectives. These unions work to organize people who are working, looking for work, and underemployed. They organize around topics including welfare reform, health care, employment, housing, and immigration as they push for change both inside and outside of the workplace. They view individual workplace difficulties as components of larger society concerns that they aim to remedy. Community union membership, in contrast to trade union membership, is based on shared identities and concerns rather than the workplace. Alliances formed between unions and other groups may have a major identity based on religious, racial, gender, disability, environmental, or sexual preferences.To learn more about unionism visit:
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Which best describes the similarity and differences between the Construction pathway and the Maintenance/Operations pathway?
Answers
Answer:
into how many geographical region Nepal has divided? describe them in a few line
Answer:
the answer is C
Explanation:
hope this helps
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
time is limeted
Which of the following steps should you take after attending a college fair?
A. Take a break from dealing with colleges for two weeks.
B. Call every college that was represented at the college fair.
C. Make a decision about which college to attend that night.
D. Continue to research colleges on your own.
Answers
Answer:
D
Explanation:
The steps that can be taken after the college fair is to continue researching colleges on your own. Therefore, Option D is correct.
What is research?Research can be defined as "creative and methodical activity done to improve the body of knowledge."
It entails gathering, organizing, and analyzing data in order to improve understanding of a subject or problem.
Therefore, The steps that can be taken after the college fair is to continue researching colleges on your own. Option D is correct.
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Posted this question already and no response.
Answers
Answer: A medium of exchange
Explanation:
Suppose that the nation of kerblopistan has a money supply of $1,000, a velocity of 2, and a real gdp of $40. What is the price level?.
Answers
A price index is a figure whose movement corresponds to changes in the median price level.
Here, The price level = 50.
What means price level?The price level is determined by averaging the current prices for all the goods and services produced in an economy. Price level, in a broader sense, refers to the cost or price of a good, service, or security in the market.A price index is used by economists to gauge the price environment. A price index is a figure whose movement corresponds to changes in the median price level.The cost of goods and services, as well as the purchasing power of money, are significantly influenced by price levels..money supply × velocity of money = price level × Real GDP
price level = \(\frac{money supply × velocity of money}{real GDP.}\)
= 1000 x 2 /40 =50.
the price level =- 50.
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Which best describes a central bank’s primary goals?
Limiting inflation and reducing unemployment.
Reducing unemployment and maintaining cash flow.
Controlling stagflation and reducing unemployment.
Managing credit and ensuring the money supplies liquidity.
Answers
Answer: A-limiting inflation and reducing unemployment
Explanation: edeg2020
The primary goal of the central bank of a country is to:
Limiting inflation and reducing unemployment.What is the central bank?The central bank is the highest bank of the country. This is the bank that is in charge of all other banks in the nation.
The bank is responsible for the control of the country's currency. They are also responsible for the supply of liquidity.
But their main function in the economy is to Limit inflation and reduce unemployment.
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Whether speech is going to be delivered before one or one hundred people, the speaker should:
a.
Concentrate on getting everything out quickly
b.
Imitate the mannerisms of great speakers
c.
Prepare their thoughts in advance
d.
Use their biggest vocabulary to sound educated
Answers
Answer:
C). Prepare their thoughts in advance.
Explanation:
A speaker aims to serve a specific purpose through his/her speech(to inform, to entertain, to convince, to motivate, etc.). In order to serve this purpose effectively by the end of the speech, it is very crucial to 'prepare the thoughts that the speaker wishes to convey in advance' as it helps him/her in organizing the thoughts in a logical order to ensure its efficacy. It also assists in analyzing whether the thoughts get along with each other and also keeps room for creativity which can enhance its impact and make the purpose more successful. Thus, be it one or one hundred people, it is important for a speech to be prepared in advance and hence, option C is the correct answer.
Answer:
C). Prepare their thoughts in advance.
Explanation:
e d g e
George works 20 hours per week at​ McDonald's. This takes place in the ___________ market. The household _________ the labor and the firm __________the labor.
Answers
George works 20 hours per week at McDonald's, which takes place in the labor market. The household Supplies the labor and the firm Demands the labor.
The labor market is a crucial component of the economy, as it determines the wages earned by individuals and the costs incurred by firms.
The household supplies the labor in the labor market. In George's case, he is a member of the household, and he is supplying his labor to McDonald's. The household's decision to supply labor is influenced by various factors, such as the wage rate, the availability of jobs, and the household's financial needs.
On the other hand, the firm demands the labor in the labor market. In George's case, McDonald's is the firm that is demanding his labor.
The firm's decision to demand labor is influenced by various factors, such as the production process, the demand for the firm's products, and the wage rate. The firm must decide how much labor to demand and at what wage rate.
In conclusion, the labor market is where individuals supply their labor, and firms demand their labor. George's job at McDonald's takes place in the labor market, and the household supplies the labor while the firm demands the labor.
Understanding the dynamics of the labor market is crucial for policymakers and economists to design policies that promote employment and economic growth.
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ABC Company issued a bond with face value for $1000, paid annual 10% coupon and 3 years to maturity, what is the value of ABC bonds today if the required rate of return is 12%.
Answers
Answer:
The value of Bond = $951.963
Explanation:
The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV) discounted at the yield rate
Value of Bond = PV of interest + PV of RV
Th e PV of interest payment
A ×(1- (1+r)^(-n))/r
Interest payment = 10%× 1000 = 100
PV = 100× (1- 1.12^(-3))/0.1 = 240.183126
PV of redemption value
PV = RV× (1+r)^(-n)
PV = 1000× 1.12^(-3) = 711.7802
The value of bond = 240.18 + 711.78= 951.963
The value of Bond = $951.963
Which of the following is most likely to be a reason for ineffective international business negotiations a)differences in cultural values and problem-solving techniques b) lack of socializing with the opposite party c)lack of nonverbal communication d) highly restrictive government legislations
Answers
The most likely reason for ineffective international business negotiations is A) differences in cultural values and problem-solving techniques.
When engaging in international business negotiations, cultural differences can significantly impact the effectiveness of communication and problem-solving. Different cultures have distinct values, norms, communication styles, and approaches to conflict resolution. These differences can lead to misunderstandings, misinterpretations, and a lack of trust between parties. Effective cross-cultural communication and understanding are essential for successful negotiations. By recognizing and adapting to cultural differences, negotiators can build rapport, establish common ground, and find mutually beneficial solutions. The other options listed (lack of socializing,
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Which is a requirement for an acceptance?
mirror image of offer
intent to contract
communicated
all of the above
Answers
All of the above
The offer must be mirrored, the first party must have an intent to contract, and that intent must be communicated for the second party to know, for sure, that a specific contract is agreed upon for acceptance.
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QUESTION 7 of 20: Your savings account pays 2.5% interest per year. How much interest does the account pay per month.
a) .02%
b) 04%
c) 21%
d) 43%
Answers
Answer:
a) .02%
Explanation:
One year has 12 months.
The interest rate per year = 2.5%
Interest earned per month will be
=2.5% / 12
=0.02%
Answer:
c 21%
Explanation:
i got it right
Suppose X ~ N(2,10) and Y ~ N(4,8) and X, Y are independent random variables. What is the distribution of W=2X+Y? What are the mean and variance of W?
Answers
The distribution of W is a Normal distribution since W is a linear combination of two independent Normal random variables X and Y. The mean of W is 2(2)+4=8 and the variance is 2^2(10) + 8 = 28.
Therefore, W ~ N(8, 28) is the answer.
Variability is measured by the variance. The average of the squared deviations from the mean is used to calculate it. The degree of spread in your data set is indicated by variance. The variance is greater in respect to the mean the more dispersed the data.The difference between the means is the mean of a difference. The sum of the variances determines the variance of a sum. A difference's variance is the total of its variances.
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