Answer:
Amount paid to record is $58,900
Explanation:
In this question, we are asked to state the Journal entry as of March 1.
Please check attachment for tabular explanation
Kindly note that 360 is used as the number of days in a year
Answer:
The company will make monthly payments of $299.71 for three years.
This means a total payments of $10,789.60 after the 36th month with an interest charge of $164.60.
Explanation:
a) Data and Calculations:
Cost of new machine = $12,500
Down Payment 15% = 1,875
Amount financed through a credit union = $10,625
Interest rate charged by the credit union = 1% per year compounded monthly.
From an online finance calculator:
Monthly Payment = $299.71
Sum of all periodic payments = $10,789.60
Total Interest = $164.60
Answer:
<em>B. reviews registration statements to ensure they comply with current laws and regulations.</em>
Explanation:
The Securities and Exchange Commission (SEC) is an independent federal agency which focuses on three main missions:
- Secure investors;
- Maintain reasonable, deliberate, and productive markets;
- Encourage capital arrangement.
They help investors form reasonable decisions.
Answer:

Explanation:
When interest is compounded annually, we can use the following formula to calculate the amount in the account at the end of a given time period.:

Where:

Let's solve the previous equation for t:
Divide both sides by PV:

Take the natural logarithm of both sides:

Replace the data provided by the problem:


Answer:
Predetermined overhead rate for department A = 1.4
Predetermined overhead rate for department B = $4
Explanation:
The computation of predetermined overhead rates would be used in Dept A and Dept B, is shown below:-
The predetermined overhead rate for department A = Manufacturing overhead ÷ Machine hours
= $91,000 ÷ $65,000
= 1.4
The predetermined overhead rate for department B = Manufacturing overhead ÷ Machine hours
= $48,000 ÷ 12,000 hours
= $4
So, we have applied the above formula.