Answer:
The Journal entry is as follows:
On December 31, 2021
Interest Receivable A/c Dr. $147
To Interest revenue A/c $147
(To record the interest receivable)
Working notes:
Interest Receivable:
= Amount received × Annual rate of interest × Time period
= $3,600 × (14% ÷ 12) × 3.5
= $3,600 × 0.01167 × 3.5
= $147
Answer:
Break-even point in units= 1,500
Explanation:
Giving the following information:
Selling price= $600
Unitary variable cost= $420
Fixed cost= $270,000
<u>To calculate the break-even point in units, we need to use the following formula:</u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 270,000 / (600 - 420)
Break-even point in units= 1,500
One of the main reason is He <span>Knocked out in one of the games during high school. Grange remained unconscious for two days after the blow and started to experience difficulity in speaking. This make his career became really blurry and none of the team want to sign him. In the end, he had to make his own team.</span>
Answer: $74569
Explanation:
Based on the information given in the question, the amount that can be borrowed is explained below:
Present value of annuity will e calculated as:
= 600 × [1-(1+0.09/12)^-(12 ×30)] / (0.09/12)
= 600 × [1-(1+0.0075)^-(360)] / 0.0075
= 600 × 1-(1.0075)^-(360)] / 0.0075
= 600 × [1-0.0678860074] / 0.0075
= 600 × 124.282
= 74569
The amount that can be borrowed is $74569
Answer:
Budgeted financial statements
Explanation:
