Answer:
The correct answer is $312.5.
Explanation:
According to the scenario, the computation of the given data are as follows:
The interest amount after one month of issue considered as accrued interest.
So, Face value = $45,000
interest rate = 12%
Period = 1 month
So, we can calculate the accrued interest by using following formula:
Accrued interest amount = ( FV × rate) ÷ 12
= ($45,000 × 12% ) ÷ 12
= $312.5
<span>This would be known as the trespass to person property. Trespassing has many meanings, while most know that it means to step on someones property without authority, it can also mean to intentionally interfere with someones rights to posses or won property. This can also occur if a person damages or deprives someone of property or possessions.</span>
Answer:
underapplied by 2,250
Explanation:
we will distribute the expected cost of overhead ovwer the cost driver. In this case, machine hours:
255,000 / 100,000 = 2.55
Then we multiply thew rate by the amount of actual hours:
105,000 x 2.55 = 267,760
We compare with the appleid overhead:
267,760 - 270,000 = -2,250
As the actual overehad was higher than applied overhead the overhead was underapplied
Answer:
The correct answer is letter "D": participated in business activities for more than 100 hours during the tax year and the participation was not less than the activity of any other individual's during the tax year.
Explanation:
Material Participation Tests are principles the Internal Revenue Service (IRS) considers at the moment of qualifying an individual as being part of an income-producing activity. There are seven (7) tests taken into consideration by the IRS but only one requirement is necessary for qualification. Among them, test three (3) states that <em>an individual qualifies if that person was involved for more than 100 hours and not less than any other individual in the firm</em>.
Answer:
1. A commercial bond is a type of surety bond that serves the purpose of guaranteeing the credibility of business people and making sure they follow the laws governing their field. If a person believes that they have been the victim of a commercial bond holder failing to follow the laws, then they can file a claim with the surety from whom the bondholder purchased the bond. In this way, the surety acts as an insurer.
A company might use bonds rather than finance a project by using a bank because banks have higher interest rates and more restrictions than commercial bonds. The ability to borrow large sums at low-interest rates allows corporations to invest in growth and other projects. Issuing bonds also give companies greater freedom to operate as they see fit. Bonds release firms from the restrictions that are often attached to bank loans.
2. When using the effective interest method, the debit amount in the discount on bonds payable is moved to the interest account. Therefore, the amortization causes interest expense in each accounting period to be higher than the amount of interest paid during each year of the bond's life.