Answer:
Entry is given below
Explanation:
As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.
Entry DEBIT CREDIT
Notes payable $600,000
Interest $36,000(w)
Cash $636,000
Working
Interest = $600,000 x 8% x9/12
Interest = $36,000
Answer:
unit sales = $3482.49
Explanation:
given data
Selling price per unit = $240.00
Variable expenses per unit = $99.50
Fixed expense per month = $454,290
monthly target profit = $35,000
solution
we get here contribution margin that is express as
contribution margin = Sales - Variable cost ..................1
put here value
contribution margin = $240 - $99.50
contribution margin = $140.50
so here Target Contribution margin will be
Target Contribution margin = Fixed cost + Target profits ...............2
put here value
Target Contribution margin = $454,290 + $35,000
Target Contribution margin = $489290
so here unit sales will be as
unit sales =
unit sales = $3482.49
Answer:
price level fall and value of money is rises
Explanation:
given data
one year basket costs = $10.00
two year two basket costs = $9.00
one year buy baskets = $50
year two,buy baskets = $50
to find out
as the price level falls, the value of money will be
solution
we see that when we compare to 1 year price go down from $10 to $ 9
so deflation at annual rate is
= 10%
so here
sum of $50 will be buy here =
= $5 in one year
and $ 50 buy in 2 year is =
= $5.56 in two year
so this is show here that price level fall and value of money is rises
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