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Ede4ka [16]
3 years ago
11

Why is it important to know the interest rate on your credit card?

Business
1 answer:
Irina18 [472]3 years ago
3 0
A

When you go into credit (the red) you basically loan money which means that you have to pay a "fine" called interest. so the more you loan and depending on the type of loan, the more interest you will pay.

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Strickland Company owes $202,900 plus $18,600 of accrued interest to Moran State Bank. The debt is a 10-year, 10% note. During 2
Vesnalui [34]

Answer:

a.                     Strickland Company (Debtor)

Date  Account Title and Calculation                   Debit         Credit

          Notes payable                                          $202,900

          Interest payable                                        $18,600

          Accumulated depreciation (Machine)      $218,689

                    Machine                                                             $397,600

                    Gain on disposition of machine                        $7,080

                     (186,000 + 397,000 - 218,680)

                    Gain on debt restructuring                                 $35,500

                    [(202,900 + 18,600) - 186,000]

                       Moran State Bank (Creditor)

Date  Account Title and Calculation          Debit         Credit

         Machine                                             $186,000

         Allowance for Doubtful accounts     $35,000

                Notes receivable                                           $202,900

                 Interest receivable                                        $18,600

b. Gain on machine disposition and the gain on debt restructuring should be reported as an ordinary gain in the income statement.

c.                      Strickland Company (Debtor)

Date  Account Title and explanation         Debit         Credit

         Notes payable                                   $202,900

         Interest payable                                 $18,600

                  Common stock                                             $112,000

                   Additional paid-in-capital                            $74,000

                   Gain on debt restructuring                          $35,500

                       Moran State Bank (Creditor)

Date  Account Title and explanation             Debit         Credit

          Investment Trading                             $186,000

           Allowance for Doubtful accounts      $35,500

                     Notes receivable                                          $202,900

                     Interest receivable                                        $18,600

7 0
3 years ago
The management of Firebolt Industries Inc. manufactures gasolineand diesel engines through two production departments, Fabricati
GalinKa [24]

Solution:

Single factory overhead amount: the amount at which plant overheads or processing overheads are assigned to goods is referred to as single plant overhead rate.

Formula to measure a single plant-wide overhead rate:

Single plant-wide overhead rate :

\frac{Total budgeted factory overhead}{ Total budgeted plant-wide allocation base}  

Different development team overhead rate: this distribution system describes the various divisions engaged in the manufacturing cycle. Factory overheads are assigned to goods on the basis of the overhead cost for each of the manufacturing units.

Formula for calculating various output department overhead:

Multiple production department overhead rate:

\frac{ Budgeted department factory overhead}{ Budgeted department factory overhead}

For calculate: single plant-wide overhead rate use direct working hours (DLH) as the allocation basis, and measure factory overhead.

Using DLH as the allocation basis to measure a single plant-wide overhead limit.

Single plant-wide overhead rate :  \frac{Total budgeted factory overhead}{ Total budgeted plant-wide allocation base}

                                                     = \frac{80,000}{10,000 DLH}

For calculate: single plant-wide overhead rate use direct working hours (DLH) as the allocation basis, and measure factory overhead.

Using DLH as the allocation basis to measure a single plant-wide overhead limit.

4 0
3 years ago
A grant seeker is considering a project that involves providing more low-calorie, fiber-rich foods to low-income families. What
BigorU [14]

Answer:

C) a local school district

Explanation:

Many school districts already carry out similar policies through Local School Wellness Policy programs. Malnutrition negatively affects kids the most and that is why school districts are currently trying to fight it. Malnutrition is not simply not eating enough food, it means not eating nutritious food at the right amounts. Obese children can suffer from malnutrition, while a slender kid can have a proper and balanced nutrition.

So if someone is seeking for a grant to fight malnutrition, they should go to their local authorities first and get in touch with the school district.

4 0
2 years ago
While building the ancient pyramids, the Egyptians performed several management functions. They submitted written requests and c
geniusboy [140]

Answer:

a, b and c i.e Organizing, Planning and Controlling

Explanation:

Note: <u>Since more than one option is to be selected, the three terms have been provided as an answer</u>

Organizing is the management function concerned with creation of organizational hierarchy, defining roles and objectives and authority and reporting responsibilities.

Planning refers to providing for unforeseen future events and deciding the ways to deal with them.

Directing refers to the management function of guiding, supervising and leading people with an objective to meet organizational goals and extract efficient performance.

In the given case, written request signifies planning, creation of a staff and consulting before arriving at decisions refers to organizing and controlling function.

4 0
3 years ago
The cover letter should _____. a. be a minimum of two pages in length b. never ask for an interview c. introduce you to an emplo
eimsori [14]

✧・゚: *✧・゚:*    *:・゚✧*:・゚✧

                  Hello!

✧・゚: *✧・゚:*    *:・゚✧*:・゚✧

❖ The cover letter should c. introduce you to an employer.

~ ʜᴏᴘᴇ ᴛʜɪꜱ ʜᴇʟᴘꜱ! :) ♡

~ ᴄʟᴏᴜᴛᴀɴꜱᴡᴇʀꜱ

8 0
3 years ago
Read 2 more answers
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