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Answer:
31 Dec 2021 Interest Expense $667 Dr
Interest Payable $667 Cr
Explanation:
The bond will pay the interest at maturity. However, following the accrual basis of accounting requires to match the revenue and expenses for a period and requires such transactions to be recorded in their respective periods. The year end adjusting entry will be made on 31 December 2021.
The interest expense for the period from August to December, 5 months, will be recorded on 31 December 2021 as interest expense and credit to interest payable.
The interest expense is = 16000 * 0.1 * 5/12 = $666.67 rounded off to $667
Answer:
PV= $81,947.83
Explanation:
Giving the following information:
Future value= $95,000
Interest rate= 0.03
Number of periods= 5
To calculate the initial investment required to reach the objective, we need to use the following formula:
PV= FV/(1+i)^n
PV= 95,000/(1.03^5)
PV= $81,947.83
Answer:
C. An explicit target is easier to understand by households and firms which makes monetary policy more transparent.
Explanation:
Explicit inflation targeting is a monetary policy used by central banks to check inflation rate is under control for medium term. However, critics target this policy as they believe that instead central bank should have monetary policy for long term inflation control and economic growth for long term. Product price targeting or nominal income targeting would create more economic stability.
Answer: C. $950
Explanation:
Hello.
Your question was missing a few details so I threw them in. You'll find it in attachments.
To calculate the total Manufacturing costs for Job 201 we would need to calculate the overhead cost allocation rate first to find out how much Overhead to allocate to Job 201.
Using a normal costing system with direct labour cost as the allocation base,
Overhead allocation rate = (Overheads/Direct Labor Cost)*100
= (100,000/50,000)*100
=200%
Overhead allocation rate is 200% or 2x direct labor cost.
Now to calculate the total Manufacturing costs of Job 201,
Total manufacturing cost for Job 201 = Direct Material + Direct Labor + Manufacturing Overheads
= 350 + 200 + (200*2 for manufacturing overhead)
= 350 + 200 + 400
= $950
$950 is the total manufacturing cost for Job 201 making option C correct.
