Answer:
The answer is: the unit variable expense is $1.20 per machine hour
Explanation:
In order to calculate the unit variable cost we first take the month with the highest and lowest maintenance expense and machine hours (Highest = month 6, Lowest = month 11). We use the following formula:
unit variable cost = (highest expense - lowest expense) / (highest machine hours - lowest machine hours)
= ($3,680 - $2,780) / (2,440 - 1,690) = $1.20 per machine hour
Answer:
The life of the firm is limited to the life span of the owner
Explanation:
A sole proprietorship is a type of person run by only one person.
Because the business is run by only one person, the business tends to end when the owner dies. most sole proprietorship lack continuity after the death of the owner
The owner can raise limited amount of capital
The owner and the business are viewed as one entity. So, they don't pay separate taxes.
Answer:
4.76%
Explanation:
The requirement in this question is determining the discount rate which gives the same present value in both cases since discount rates discount future cash flows to present value terms.
PV of a pertuity=annual cash flow/discount rate
PV of a pertuity=$17,000/r
PV of ordinary annuity=annual cash flow*(1-(1+r)^-n/r
PV of ordinary annuity=$30,000*(1-(1+r)^-18/r
$17,000/r=$30,000*(1-(1+r)^-18/r
multiply boths side by r
17000=30,000*(1-(1+r)^-18
divide both sides by 30000
17000/30000=1-(1+r)^-18
0.566666667=1-(1+r)^-18
by rearraging the equation we have the below
(1+r)^-18=1-0.566666667
(1+r)^-18=0.433333333
divide indices on both sides by -18
1+r=(0.433333333)^(1/-18)
1+r=1.047554315
r=1.047554315-1
r=4.76%
Answer:
1 Nov 2021 Cash $80.8 million Dr
Notes Payable $80.8 million Cr
Explanation:
The note issued by Ontario will be against the amount borrowed by Ontario. The borrowing will result in Ontario receiving cash. The receipt of cash will increase the amount of cash which is a asset and it will be debited by the amount of cash received.
The note issued by Ontario is a liability for Ontario. An increase in liability will be recorded by a credit to notes payable account by the amount of the cash received by Ontario. It carries interest that will be recorded at the year end adjusting entry for the period that relates to this year. The remaining interest will be recorded when the note matures and the total amount of interest on note will be paid along with the principal at maturity.
Answer:
he bank statement reconciliation process is simple. You compare the transactions in your bank statement to your check register for the same period. The statement and check register should have the same number of transactions. Every line item in the statement should match a line item in your check register.
Explanation:
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