Sparks Corporation has a cash balance of $10,500 on April 1. The company must maintain a minimum cash balance of $8,500. During April, expected cash receipts are $53,000. Cash disbursements during the month are expected to total $59,500. Ignoring interest payments, during April the company will need to borrow

a. $8.500
b. $4.500
c. $6.500
d. $4.000

Which of the following statements is true? a job costing system will have a separate work in process account for each of the major processes. a process costing system will have a single work in process account. a process costing system will have a separate raw materials account for each of the major processes. a process costing system will have a separate work in process account for each of the major processes.

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.

Lee earns $1,482 of interest in 270 days after making a deposit of $15,200. find the interest rate.