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Brilliant_brown [7]
3 years ago
7

What is the advantage of a variable-interest

Business
1 answer:
quester [9]3 years ago
3 0
A variable rate loan can result in a lower payment in the short-term but carries a risk that the rate could rise during the long-term and produce significantly higher payments.
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During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as foll
Murrr4er [49]

Answer:

Net Sales                         $2720

Explanation:

Hancock Corporation

    Jan 6:   Sales                      $ 1500

Add Jan 6    Sales                      $ 850

Less Jan 14   Sales Discount     $ 30 ( 2% of $ 1500)

<u>Add Feb 28:   Sales                   $ 400</u>

<u>Net Sales                                  $2720 </u>

Only a 2% discount is given on the cash received on Jan 14  on the sales made on JAn 6 to S. Green  because the cash is received within the first ten days of sales made. The cash received on Feb 2 is not given the sales discount as it is received after ten days of the sales made. That is sales were done on Jan 6 to M. Munoz.  with the terms 2/10, n/30 meaning discount will be given within the first ten days . But as the payment was on Feb 2 almost 17 days later the discount is not given.

The term 2/10 n/30 means a two percent discount will be given if sales were  paid within the first ten days. So a discount is given to S. Green but not M. Munoz as payment is done after 10 days.

6 0
3 years ago
In a commercial bank's t-account, reserves and outstanding loans are recorded as?
Vsevolod [243]

In a commercial bank's t-account, reserves and outstanding loans are recorded as assets.

In economic accounting, "reserve" usually has a credit balance and may talk over with part of shareholders' fairness, a liability for envisioned claims, or contra-asset for uncollectible debts. A reserve can seem in any part of shareholders' fairness besides for contributed or simple proportion capital.

Reserves are a part of income or gain that has been allotted for a selected reason. Reserves are usually installed to shop for fixed property, pay bonuses, pay an anticipated prison settlement, pay for upkeep & protection and pay off debt.

Reserves – additionally called retained income – are portions of a commercial enterprise's profits that have been set aside to strengthen the enterprise's economic function.

Learn more about reserves here brainly.com/question/25812353

#SPJ4

3 0
1 year ago
Segmented Income Statement Gorman Nurseries Inc. grows poinsettias and fruit trees in a green house/nursery operation. The follo
bija089 [108]

Answer:

Poinsettias records a loss of $118,125            

Fruit Trees records a profit of $92,325        

The company therefore records an overall $25,800 loss

NB: See the workings below see the assumption mad to allocate common expenses since none is given in the question.

Explanation:

Variable costing income statement is a type of income statement that records variable cost separately first to determine the contribution margin and thereafter record the fixed cost which is further split into direct fixed expenses and common expenses.

The segmented income statement for Gorman Nurseries for the coming year can therefore be presented as follows:

Gorman Nurseries Inc.

Segmented Income Statement

For the coming year

Particulars                        Poinsettias ($)     Fruit Trees ($)    Total ($)

Sales                                         970,000           3,100,000        4,070,000

Variable COGS                       (460,000)         (1,630,000)     (2,090,000)

Variable selling exp. (w1.)  <u>       (38,800)  </u>     <u>     (124,000) </u>    <u>    (162,800)  </u>

Contribution margin                 471,200            1,346,000      1,817,200

Direct fixed overhead             (160,000)          (200,000)       (360,000)

Direct fixed S $ Admn exp.  <u>   (146,000) </u>     <u>       (87,000) </u>    <u>    (233,000) </u>

Segment margin                       165,200           1,059,000      1,224,200

Common fixed overh. (w2a)     (176,077)           (623,923)     (800,000)

Common S $ Admn ex (w2b)  <u> (107,248)  </u>      <u>   (342,752) </u>    <u>  (450,000) </u>

Segment Net Income (loss)   <u> (118,125)  </u>       <u>       92,325 </u>    <u>    (25,800) </u>

Workings:

w1. Variable selling expenses = Sales * Commission percentage

Poinsettias = $970,000 * 4% = $38,8000

Fruit Trees = $3,100,000 * 4% = $124,000

w2. Allocation of common expenses using the following assuptions:

a) Use cost of goods sold (COGS) to allocate Common fixed overhead:

Poinsettias = (460,000 / 2,090,000) * $800,000 = $176,077

Fruit Trees = (1,630,000 / 2,090,000) * $800,000 = $623,923

b) Use common selling and administrative expense using Sales:

Poinsettias = (970,000 / 4,070,000) * $450,000 = $176,077

Fruit Trees = (3,100,000 / 4,070,000) * $450,000 = $623,923

4 0
3 years ago
Bill Blackburn is the new mayor of Oceanside, Washington. He discovered that the city-run utility requires a deposit of $50 from
Serjik [45]

Answer:

<em>Theory of justice </em>

Explanation:

A Justice Theory is a 1971 work of John Rawls ' political philosophy and ethics, whereby the writer addresses the problem of distributive justice.

The principle uses a revised sort of Kantian philosophy and a variant form of conventional theory of social contracts.

7 0
3 years ago
Germans have not been overly receptive to the use of credit cards such as visa or mastercard and installment debt to purchase pr
guapka [62]
<span>Because of a difference in values from American consumers, Germans have not been overly receptive to installment debt to purchase products and services and the use of credit cards such as visa or Mastercard. The German Schuld which means debt also means guilt.</span>

 






7 0
3 years ago
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