BUSINESS HIGH SCHOOL

Madson Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?a.Prepaid Subscriptions................600,000..................Cash...................................600,000b.Subscriptions Receivable..........600,000................Subscription Revenue.............600,000c.Cash...........................600,000............Unearned Subscription Revenue.....600,000d.Subscriptions Receivable.............100,000.............Unearned Subscription Revenue....100,000

Answers

Answer 1
Answer:

Answer:

C) Cash...........................600,000............Unearned Subscription Revenue.....600,000

Explanation:

January 31: 60,000 subscriptions sold

  • Dr Cash account 600,000
  • Cr Unearned Subscription Revenue account 600,000

Since cash is an asset account and it increases, then it should be debited.

Unearned revenue is a liability account, since the company received money in advance for future publications. When liabilities increase, they should be credited.

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Strike, a clothing manufacturer from Minnesota, offered to sell Bailey, the owner of a clothing store in Colorado, one thousand shirts for a stated price to be paid on delivery of the shirts. The offer declared that shipment would be made by Dependable Truck Line to Bailey's store. Bailey replied, "I accept your offer for one thousand shirts at the price quoted. However, delivery is to be by Yellow Express Truck Line." Both Dependable Truck Line and Yellow Express Truck Line are well-known national companies. Three weeks later, Strike shipped the shirts by Dependable Truck Line, which was just a few dollars cheaper, and Bailey refused to accept delivery. Strike sued for breach of contract. Bailey claimed that there never was a contract because his reply, which included a modification of carriers, did not constitute an acceptance. Bailey further claimed that, even if there had been a contract, Strike would have been in breach because Strike shipped the shirts by Dependable, contrary to the contract terms.

Answers

Answer:

There was no contract since there was no mutual agreement on the shipping company.

Explanation:

For a contract to be enforceable, it is necessary to have proper offer and acceptance by the two parties. In this case, Strike made an offer and Bailey accepted the stated price but added that the shipping has to be done by Yellow Express Truck Line and not Dependable Truck. Since there was no agreement reached on the shipping company by both the parties, the contract isn't enforceable.

determine the interest that would be charged on a two-week $300 payday loan if the interest rate is 520%, and the interest is compounded at the end of the two weeks. Explain how you came to your answer

Answers

Answer:

$60

Explanation:

The computation of the interest is shown below:

= Principal × interest rate × number of weeks ÷ total number of weeks in a year

= $300 × 520% × 2 weeks ÷ 52 weeks

= $60

Basically we applied the simple interest formula and we assume the total number of weeks in a year is 52 weeks

So, the interest at the end of two weeks is $60

The primary purpose of Grameen Bank is to __________.a. provide loans to aid in building infrastructure in the world’s poorest countries
b. provide installment loans to countries in economic crisis
c. provide debt relief for poverty-stricken countries
d. provide microcredit loans, especially to women
An important function of __________ is to develop programs for rebuilding a nation’s economy.
a. the International Monetary Fund (IMF)
b. the World Bank
c. Grameen Bank
d. civil society ...

Answers

The primary purpose of Grameen Bank is to provide microcredit loans, especially to women. Thus, option (d) is correct.

An important function of the International Monetary Fund (IMF) is to develop programs for rebuilding a nation’s economy. Thus, option (a) is correct.

What is economy?

The mechanism through which a nation or region organizes its money, industry, and trade is concerned to as its “economy.” The economy is the significant part of the country. The primary sector of the economy is the industrial sector and agriculture sector.

Grameen Bank, was the main focuses on the provided the loan. I was the lower interest rate. It was specially a target audience is the women. International MonetaryFund was the involved of the 189 member countries. It was the main agenda to develop the rebuilding of a nation’s economy.

As a result, the significance of the International MonetaryFund and the Grameen Bank are the aforementioned. Therefore, option 1. (d) and 2. (a) are correct.

Learn more about on economy, here:

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Hey there

The correct answer for the first question is (D) 

(D) =  provide microcredit loans, especially to women  

The primary purpose of Grameen Bank is to provide microcredit loans, especially to women . 

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The correct answer for question two is (A) 

(A) =  the International Monetary Fund (IMF) 

An important function of the International Monetary Fund (IMF) is to develop programs for rebuilding a nation’s economy.

________ are the people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of the project.

Answers

STAKEHOLDERS are the people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of the project

____ are long-term, low-interest loans, cash grants, and tax deductions used to develop and protect companies or special industries. Quotas
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Government subsidies
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Answers

GOVERNMENT SUBSIDIES are long-term, low-interest loans, cash grants, and tax deductions used to develop and protect companies or special industries.

Government subsidies are assistance given by the government to a person or a group of individuals in support of an enterprise that is for the public interest.

A collective bundle of shares is called?

Answers

Portfolio of shares
Or Index of shares
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