Ben bradley started bradley company on january 1, year 1. the company experienced the following events during its first year of operation:
1. earned $2,000 of cash revenue for performing services.
2. borrowed $8,000 cash from the bank.
3. adjusted the accounting records to recognize accrued interest expense on the bank note. the note, issued on august 1, year 1, had a one-year term and a 6 percent annual interest rate.

a. what is the amount of interest expense in year one?
b. what amount of cash was paid for interest in year one?

6carla would like to buy a dress, a dresser for her bedroom, and a home theater system. she has one month's worth of living expenses in her emergency fund. carla decides to save for the home theater system. did carla make the right decision? why or why not? a. yes; her emergency fund is full and the other items will probably be less expensive. b. yes; she could save more for her emergency fund, but the home theater will be harder to save for. c. no; she should save more for her emergency fund because she has saved less than the recommended amount. d. no; she should have bought the dress and dresser first because she could afford them right away. reset next

Kirnon clinic uses client-visits as its measure of activity. during july, the clinic budgeted for 3,250 client-visits, but its actual level of activity was 3,160 client-visits. the clinic has provided the following data concerning the formulas to be used in its budgeting: fixed element per month variable element per client-visitrevenue - $ 39.10personnel expenses $ 35,100 $ 10.30medical supplies 1,100 7.10occupancy expenses 8,100 1.10administrative expenses 5,100 0.20total expenses $ 49,400 $ 18.70the activity variance for net operating income in july would be closest to:

Match each economic concept with the scenarios that illustrates it