Answer:
4.8%
Explanation:
36months*$79.50=$2862
$2862-borrowed 2,500=362
362/3 years=$120 2/3
this means that the interest is 120 2/3 /2500, which is 0.048266, or 4.82, or in your case 4.8%
Answer:
See Explanation
Explanation:
(a)
Journal entry to record the transaction is,
Particulars Debit Credit
Land and Building (460000 + 520000) $980,000
Cash Paid $360,000
Mortgage Payable (980,000 - 360,000) $620,000
We assume that 4% interest is chargeable each semiannual payment and that each subsequent payment is charged 4% on the remaining amount of principal minus any preceding principal payments.
(b)
First installment = Principal + Interest payable
= 31,000 + (620,000 * 0.04) = $55,800
(c)
Second payment = 31,000 + [(620,000 - 31000) * 0.04] = $54,560
Since the chart of accounts is not provided you can confirm the the account headings.
Hope that helps.
Answer: Activity based cost accounting
Explanation:
The activity based cost accounting is the one of the type of accounting method in an organization that assigned various types of objects for allocating indirectly the overall cost of the products in the department as compared to the conventional costing.
According to the given question, the activity based cost accounting is firstly assigning the cost to each activity and then assigning the products based in the consumption for different types of activities in production processing.
Therefore, Activity based cost accounting is the correct answer.
Answer:
The option is B. Project manager with input from systems analyst.
Explanation:
A project manager is an individual who has the overall responsibility for the successful initiation, planning, design, execution, monitoring, controlling and closure of a project.
The roles of a project manager include, but not limited to:
- Planning and Defining Scope
- Activity Planning and Sequencing
- Creating Charts and Schedules
However, Project Managers can not work alone, they will therefore work with experts and people who are skilled in their field. They will form a team that will report to the project manager, and work together to ensure the success of the project.
From the explanations above, we can conclude that the systems analyst will only provide input that will help the project manager in making decisions about the management of the project.
