I believe it’s b.
Sorry if it’s wrong I’m not sure
Answer:
The problem with variable rates is that they vary, i.e., they might unexpectedly increase and the increase might be pretty significant. One of the main factors leading to the Great Recession was the housing bubble and the increase in mortgage interest rates. Normally, interest rates tend to increase, they might sometimes decrease, but generally they only go up and up.
Even though the fixed interest rate might be higher, it will not change and that guarantees that you will always pay the same amount and that you can prepare your personal budget to cover it.
The purchase of land by Hanover, Inc. through the issuance of long term bonds should be reported on the statement of cash flows as
significant non cash investing and financing activity that merits disclosure.
Answer:
73 days
Explanation:
average collection period = number of days in a period / receivables turnover
receivables turnover = revenue / average receivables = $100,000 / $20,000 = 5
average collection period = 365 / 5 = 73 days
I hope my answer helps you
Answer:
d. A debit to Work-in-Process Inventory, Finishing Department of $140,000.
Explanation:
Cost of unit transferred = $4 x 35,000 = $140,000
Cost incurred by mixing department is $4 which so the transfer of cost from mixing department to finishing department will be $140,000 for 35000 units. This cost will be recorded in the work in process inventory account of finishing department. As we know that WIP account has debit nature so same entry will be done to record an expense incurred in mixing department.
