Answer:
On October 01, 2017
The amount actually borrowed that is $ 701,000 will be recorded as liability/note payable on october 01, 2017. The following accounting entry will be passed
Debit Cash Asset $ 701,000
Credit Note payable $ 701,000
Interest recognized from October 1 to December 31, 2017
The premium amount paid on redemption will be recorded as interest over the period of time. The interest amount is
Interest = 721,000 -701,000 = $ 20,000
So this above calculated expense will be recognized as an expense over loan period.
Answer:
The conversion cost per equivalent unit is $3.31
Explanation:
The computation of the conversion cost per equivalent unit is shown below:
= Total conversion costs ÷ Total equivalent units
where,
Total conversion cost = completed units + Conversion costs during April
= $6,000 + $35,000
= $41,000
And, the total equivalents units equal to
= Finished good units × percentage of completion + ending work in process units × percentage of completion
= 11,500 units × 100% + 1,500 units × 60%
= 11,500 units + 900 units
= 12,400 units
Now put these values to the above formula
So, the per unit would equal to
= $41,000 ÷ 12,400 units
= $3.31 per unit
Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that network effects are a key to success.
<h3>
What are Network Effects?</h3>
- The phenomenon known as the "network effect" describes how more individuals using a commodity or service results in a rise in value. An illustration of the network effect is the internet.
- Since the internet was first only useful to the military and a small number of researchers, there weren't many users.
- However, as more people had access to the internet, more material, information, and services were created by users.
- More people were drawn to connect and transact business with one another as a result of website development and enhancement. A network effect resulted from the internet offering more value as traffic increased.
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