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Answer:
RecRoom Equipment Company
Date Particulars Debit Credit
1Nov Note Receivable $ 13,200
Account Receivable $ 13,200
RecRoom Equipment Company received an $13,200, six-month, 7 percent note to settle an $13,200 unpaid balance owed by a customer.
31 December Interest Receivable $ 924
Interest Revenue $ 924
To record the accrued interest earned. $13,200*7%= $ 924. As it is for two months the amount would be $ (924/12)*2= $ 154
1 May Cash $ 13,662
Interest Income $ 462
Notes Receivable $ 13,200
RecRoom receives the interest on the note's maturity date. RecRoom receives the principal on the note's maturity date.
The rate of return I would earn if you bought the asset is 16.91.
<h3>What is the internal rate of return?</h3>
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested. It is a capital budgeting method.
IRR can be calculated with a financial calculator
- Cash flow in year 0 = $-5250
- Cash flow in year 1 = $750
- Cash flow in year 2 = $1000
- Cash flow in year 3 = $850
- Cash flow in year 4 = $6250
IRR = 16.91%
To learn more about the internal rate of return, please check: brainly.com/question/24172627
If a company would like to improve its degree of using leverage it should increase its Fixed Costs relative to its Variable Costs.
<h3>What is the relationship between variable cost and fixed cost with profit?</h3>
As they are time-related, or stable across time, fixed costs. Variable costs depend on volume and shift as the quantity of output does.
Variable costs are those that rise or fall in line with the volume of goods produced, while fixed costs remain constant regardless of output levels. Gross profit is significantly influenced by both fixed and variable costs; when production costs rise, gross profit decreases.
The amount of product generated determines the fluctuation in variable costs. Raw materials, labor, and commissions are examples of variable expenses. Regardless of the level of production, fixed expenses stay constant. Lease and rental payments, insurance, and interest payments are examples of fixed costs.
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