Answer:
B. a debit to Interest Expense for $ 42 comma 750.
C. a credit to Cash of $ 137 comma 750.
Explanation:
Payment of Note Payable includes the payment of interest on the outstanding balance and principal amount of the note. In this question it is the first payment of the note payable, so the outstanding balance is the face value of the note, Interest is calculated using this value, A fix payment of $95,000 is also made.
As per given data
Principal Payment = $95,000
First Interest payment = $475,000 x 9% = $42,750
Total Payment = $95,000 + $42,750 = $137,750
Journal Entry for first payment
Dr. Interest Expense $42,750
Dr. Not Payable $95,000
Cr. Cash $137,750
Answer:
73 days
Explanation:
average collection period = number of days in a period / receivables turnover
receivables turnover = revenue / average receivables = $100,000 / $20,000 = 5
average collection period = 365 / 5 = 73 days
I hope my answer helps you
Answer:
All answers except 2 and 3 can be treated as correct.
The main reason is that bothered of them involves getting loans and although federal loans may have relatively lower interest rates, still it would be difficult to manage once he is out of the college.
The other options provide wonderful opportunities to afford him his studies without getting into debt so matt should try one of those options.
Explanation:
Answer:
$354
Explanation:
Annual amount / 365 days or monthly amount /length of month = daily amount.
Therefore;
Daily amount x the numbers of days = proration.
$1,900 / 365 = $5.21 daily amount
(31 January days + 28 February days + 9 March days =) 68 days
$5.21 x 68 = $354
Therefore Jessica's share of the real estate taxes for the current year is $354
Answer:
The correct answer is C) the cause-‐‑and-‐‑effect and the benefits-‐‑received criteria.
Explanation:
In general, the costs that are collected in the accounts serve three general purposes:
- Provide cost reports to measure utility and evaluate inventory (income statement and balance sheet).
- Offer information for the administrative control of the operations and activities of the company (control reports).
- Provide information to support planning and decision making (analysis and special studies).
Control constitutes the management for the fulfillment of the proposed goals, while cost reduction refers to the effort aimed at achieving a decrease in the levels or magnitude of the costs. The cost of the quality of a product represents the work that requires the identification and administration of the necessary expenditures to maintain an adequate degree of quality, that is, the supervision of compliance with the rules of its design and its specifications.
