Answer: $403,221.67
Explanation:
Interest revenue in 2022 = Value of Lease payments in 2022 * Interest rate
Value of lease payments after first payment :
= 5,001,197 - 700,000
= $4,301,197
Value of lease payments after second payment in 2022:
= Value of lease payment after first payment + Interest revenue - lease payment
= 4,310,197 + (4,310,197 * 10%) - 700,000
= $4,032,216.70
Interest revenue in 2022 = 4,032,216.70 * 10%
= $403,221.67
Answer:
1) expense recognition principle: expenses are recognized when they are consumed.
2) historical cost principle: a company must record its assets, liabilities, and equity investments at their original costs.
3) economic entity principle: the company's transactions should be kept separate from those of its owners or upper management.
Answer:
C.completeness
Explanation:
Occurrence means transactions and events that have been recorded or disclosed have occurred and relate to the entity.Existence means whether or not accounts balances and related disclosures related Assets, liabilities and equity interests exist in the financial statements.
Completeness means there are no unrecorded transactions, events and disclosures and all transactions that have occurred has been included in the general ledger/financial statements
Valuation or allocation means that assets, liabilities and equity interests are included in the financial statements at appropriate amounts and any resulting valuation or allocation adjustments are appropriately recorded and related disclosures have been appropriately measured and described.
In this question, interest on sample of paid notes have been traced to the general ledger account, to check that whether the interest on the selected sample has been included in the general ledger and financial statements.Thus the answer shall be C.completeness
Doller price the most prominent rationing device you will likely find at your campus bookstore. The amount of money an investor spends to buy a bond is referred to as the dollar price in bond pricing. The bond's face value, or par value, is the dollar price upon issuance.
The price of the bond will probably change from its face value and be quoted as a percentage of par if it is later sold to someone else on the secondary market before maturing. One of the two ways a bond price can be quoted is in dollars; the other is by its yield.
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Answer:
the equivalent units for :
materials = 106,400
conversion = 104,600
Explanation:
Calculation of the equivalent units for materials
<em>Note : Units of Ending Work In Process are 80% complete as to materials</em>
Units of Ending Work In Process (18,000×80%) = 14,400
Units Completed and Transferred (92,000×100%) = 92,000
Total =106,400
Calculation of the equivalent units for conversion
<em>Note : Units of Ending Work In Process are 70% complete as to conversion</em>
Units of Ending Work In Process (18,000×70%) = 12,600
Units Completed and Transferred (92,000×100%) = 92,000
Total =104,600
