Router Inc lends $70,000 on a 120-day, 9% promissory note. The total interest that Router will receive at maturity is
a. $6,300
b. $2,100
c. $525
d. $1,890
b
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Following are seven items a through g that would cause Rembrandt Company's book balance of cash to differ from its bank statement balance of cash.a. A service charge imposed by the bank.b. A check listed as outstanding on the previous period's reconciliation and still outstanding at the end of this month.c. A customer's check returned by the bank is marked "Not Sufficient Funds (NSF)".d. A deposit mailed to the bank on the last day of the current month and not recorded on this month's bank statement.e. A check paid by the bank at its correct $190 amount recorded in error in the company's check register at $109.f. An unrecorded credit memorandum indicating that bank collected a note receivable for Rembrandt Company and deposited the proceeds in the company's account.g. A check written in
the current period that is not yet paid or returned by the bank.Indicate where each item, letters a-g, would appear on Rembrandt Company's bank reconciliation by placing its identifying letter in the parentheses in the proper section of the form below.Bank statement cash balance?Book balance of cash?Add:( )Add:( )?( )?( )?( )?( )Deduct:( )Deduct:( )?( )?( )?( )?( )????Reconciled balance?Reconciled balance? What will be an ideal response?
Stanford University medical researchers conducted a study on the correlation between the use of fertility drugs and ovarian cancer. Their study, published in the American Journal of Epidemiology, concludes that the use of the fertility drugs, Pergonal
and Serophene, may increase the risk of ovarian cancer by three times. The lead author of the studies, Professor Alice Whittemore, stated, "Our finding in regard to fertility drugs is by no means certain. It is based on very small numbers and is really very tenuous." FDA Commissioner David Kessler would like the infertility drug manufacturers to disclose the study findings and offer a warning on the drug packages. He notes, "Even though the epidemiology study is still preliminary, women have a right to know what is known. We're not looking to make more of this than there is." If you were a manufacturer of one of the drugs, would you voluntarily disclose the study information?
It is necessary to answer the phone by the fourth ring
Indicate whether the statement is true or false.
Beacon Company makes a product that has a variable cost of $25 per unit and a selling price of $45 per unit. Annual fixed costs total $860,000. Beacon's net income last year was $240,000. Beacon's management is considering lowering the selling price to $35.Required:1) How many units did Beacon sell last year?2) If Beacon Company wants to maintain the same level of income that it had last year, how many units would it have to sell at the new selling price of $35?
What will be an ideal response?