Answer:
The correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Explanation:
As brick company has sign a $300,000 note which consist 7% interest rate and the duration of note is 9 month on January 1
The question has asked the journal entry on January 1 date.
So, the journal entry is
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
The interest part should be ignored because in the question they asked the journal entry of January 1 not in the end of the month. According to the date of asking the journal entry, the amount is to be calculated. Thus, interest should not be considered.
Hence, the correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Answer:
$600,000
Explanation:
For computing the overhead applied first we have to find out the predetermined overhead rate
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated machine hours)
= $800,000 ÷ 200,000 hours
= $4
Now the overhead applied is
= Actual direct labor-hours × predetermined overhead rate
= 150,000 hours × $4
= $600,000
Answer:
Will increase
Explanation:
Substitutes are the goods which have high elastic demand or positive cross elasticity of demand. An increase in price substantially affects the demand for a substitute good. For example, if tea and coffee are substitutes, an increase in the price of coffee will increase the demand for tea and the overall surplus in the team market.
Answer:
The equilibrium price would increase, and the equilibrium quantity would decrease.
Explanation:
With an increase in the cost of steamed milk, the cost of materials, one of the key factors in pricing decision would rise, which means that the equilibrium price of lattes would also increase. With an increase in price, according to the law of demand, there is a decrease in demand. Therefore, the quantity of lattes sold at the new equilibrium price would decrease.
The equilibrium price would increase, and the equilibrium quantity would decrease.
Answer: Option (C)
Explanation:
Here, in this case the corporation E-Gadgets is providing its consumers with place utility. The organization E-Gadgets creates the utility for their product solely by character of its location. The organization is known to have more than 170 outlets that are located in most of the large cities. Under the place utility it is known that the attractiveness of a commodity that is sold can be further increased by changing the location.
