The FAFSA is handy to know what you could possibly get when applying to college to help pay for things even if you don’t expect aid you might get more than you think
Answer:
Debit Building $338,000
Credit Cash $58,000
Credit Notes Payable $280,000
Explanation:
Preparation of the journal entry to Record the purchase of the building on January 1, 2021.
Based on the information given we were told that the company purchases an office building for the amount of $338,000 which means that if they paid $58,000 down and as well borrowed the remaining amount of $280,000 the journal entry to Record the purchase of the building on January 1, 2021 will be :
Debit Building $338,000
Credit Cash $58,000
Credit Notes Payable $280,000
(Being to record the purchase of building)
Answer:
net loss of $62,500
Explanation:
Today Jasper converted $1,000,000 into 750,000€ ($1 = €0.75)
In three months from now, Jasper turned the 750,000€ into $937,500 ($1 = €0.80). ⇒ 750,000 / 0.80 = 937,500
The result of these transactions is a net loss = $937,500 - $1,000,000 = -$62,500.
The net loss happened because the euro depreciated against the US dollar, i.e. it lost value.
Answer:
The firm’s contribution margin per candle is $3.75
Explanation:
The computation of the firm’s contribution margin per candle is shown below:
Contribution margin per unit = Selling price per unit - variable cost per unit
= $6 candle - $2,25 candle
= $3.75 candle
The fixed expense is used to compute the break-even sales in units and in dollars so for this calculation, the fixed expense should not be taken. Hence, ignored it
