The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is $15600.
<h3>
Mortgage liability </h3>
Mortgage liability limits the liability of potential third parties who were not involved when the mortgage was arranged. For example, if a mortgage is in arrears, the debtor has to pay the outstanding principal and interest, plus late payment and other charges.
<h3>
What is mortgage asset or liabilities?</h3>
A current liability for
1) the principal payments that will be coming due within one year after the balance sheet date, and
2) any accrued interest that is owed as of the balance sheet date.
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Answer:
$3,927
Explanation:
For the computation of bid price first we need to follow some steps which is shown below:-
Manufacturing overhead rate = Overhead cost ÷ Machine hours
= 45,000 ÷ 100,000
= $0.45
Total manufacturing cost charged to the school
= 2,000 + 400 + (900 × 0.45)
= $2,805
Markup cost = $2,805 × 0.4
= $1,122
Bid price of job = Total manufacturing cost charged to school + Markup cost
= $2,805 + $1,122
= $3,927
Answer:
When Manufacturing of a Product involves several processes.
Explanation:
When several processes are involved in manufacturing a product, costs need to be accumulated in these processing departments. Thus, A process cost accounting system is most appropriate
Answer:
C
Explanation:
Because they need to know they will be successful in the new market.
Answer:
amount of tax saving is $4320
Explanation:
given data
tax deduction = $18000
marginal tax rate = 24%
effective tax rate = 20%
to find out
amount of tax saving
solution
we know tax saving formula that is
tax saving = tax deduction × marginal tax ........................1
so now put here all value in equation 1
tax saving = tax deduction × marginal tax
tax saving = 18000 × 24%
tax saving = 18000 × 0.24
tax saving = 4320
so amount of tax saving is $4320
