Q1 kieso company borrowed 710000 on a 120-day note at 14

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Q1. Kieso Company borrowed $710,000 on a 120-day note at 14 percent interest. The money was borrowed for 45 days in 2011 and 75 days in 2012; the note and interest were to be paid upon maturity in 2012. Explain how more interest expense, if any, would be reported in 2011 and in 2012?

Q2. Give an example of an industry with an oligopolistic structure. Illustrate what are the firms in this industry? Illustrate what criteria are you using to classify this industry as an example of oligopoly? Has this industry experienced price wars? If so explain why? If not, why not?

Reference no: EM13355218

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