Answer:
1. Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238.
Explanation:
The journal entry is shown below:
Note payable A/c Dr $7,238
Interest expense A/c Dr $7,000
To Cash A/c $14,238
(Being the first payment on the note is recorded)
The computation of the interest expense is shown below:
= Borrowed amount × rate of interest
= $100,000 × 7%
= $7,000
And, the remaining balance left is reported in the note payable account
<span>Arguably one of the more seminal papers on the effects of donor motivations for aid on ..... However, Hook argues, leaders of the industrialized world have become ..... foreign aid policies would likely reveal that Chinese foreign aid policies hold a lot ...... On the other hand, the United States appears to favor democracies, but ...
Second, the economies of the world's nation-states are becoming more intertwined. ..... prosperous global economy based on free market principles might not occur .... Following Diaz's victory, Mondavi announced he would pull out of the project. ...... system to a dynamic market-based economy where two-thirds of economic ...
If one or two of these central problems have been growing worse, especially if all three ... food and poor nutrition, low income, dictatorial and corrupt leaders etc. .... of the dependent economies by foreign economic and other interests without ... of the American society and system would pretend not to notice or appreciate</span>
General welfare, food stamps, and education
Answer:
Variable overhead cost variance = $2,949.80
Explanation:
As per the data given in the question,
Actual overhead cost = $15,000
Actual hours = 490
Actual cost = $30.61 per hour
Standard overhead cost = $15,000
Standard hours = 610
Budgeted cost = $24.59 per hour
Variable overhead cost variance = Actual hours × (Actual cost per hour - Standard cost per hour)
= 490 × ( $30.61 - $24.59 )
= $2,949.80
Answer:
$45,900
Explanation:
I prepared an amortization schedule to show the 30 annual payments:
- principal = $300,000
- payment = $23,690
- interest = 7%
At the end of the mortgage (in 30 years), the remaining balance of the debt will be $45,900, so the balloon payment must equal that amount to repay the debt completely.
