What should be paid attention to as regards financial aid costs is the amount of money and hours you can earn through work-study.
<h3>What is Financial aid?</h3>
Financial aid serves as a monetary help that can be received by a student from an organization or government.
This aid can help students for their college or career school, which can be inform of a Grants or work-study for academic success.
Learn more about Financial aid at;
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Answer: No
Explanation: Unless it is invested in short-term securities, there will be no interest income for cash in any financial statement.
Answer: 1. Special order price, direct materials, direct labor, and variable overhead.
2. Increases by $10,000,000
Explanation:
1. What are the relevant costs and benefits of the two alternatives (accept or reject the special order)
These include special order price, direct materials, direct labor, and variable overhead.
2. By how much will operating income increase or decrease if the order is accepted?
This will be:
= Units × (special order price-variable costs)
= 5000 × ($18000 - $10000 - $2000 - $4000)
= 5000 × $2000
=$10,000,000
Therefore, it increases by $10,000,000
Answer:
-$285,000
Client should not invest in the project
Explanation:
Up-front cost : $300,000
Next year's revenue : $15,000
Real interest rate : 8%
Depreciation rate : 10%
<u>Determine how much profit the project will yield </u>
Profit = Revenue - cost
= 15,000 - 300,000
= - $285,000
No the Client should not invest in the project
Answer:
a. Accounts Payable: B
b. Cash: B
c. Common stock: B.
d. Account Receivables: B
e. Rent expenses: I
f. Service revenue: I
g. Office supplies: B
h. Dividends: RE
i. Land: B
j. Salaries Expenses: I
Explanation:
a. Accounts Payable: I
It is recorded in the Liability part to showed amount owed to suppliers.
b. Cash: B
It is recorded in the Current Asset part to show amount of cash on hand and in bank.
c. Common stock: B
It is recorded in the Owner Equity part to show Owner's capital contribution
d. Account Receivables: B
It is recorded in the Asset part to show amount owed from customers.
e. Rent expenses: I
It is recorded in the expenses part of income statement.
f. Service revenue: I
It is recorded in the revenue part of income statement.
g. Office supplies: B
It is recorded in the current asset part of the Balance Sheet statement to show how much office supplies is not consumed/ fully consumed.
h. Dividends: RE
It is recorded in the Statement of Retained Earnings to show dividend paid out in the reporting period.
i. Land: B
It is recorded in the Non-current Asset part of the balance sheet to show Book value of land possession.
j. Salaries Expenses: I
It is recorded in the expenses part of income statement.