Answer:
Interest expense account
Explanation:
In accounting, interests paid on loan, promissory or any other forms of loan written off to the income statement as an expense in the period in which they are incurred.
Therefore, the interest expense account will be will be debited when Parma records the entry relating to each of the four interest payments. The other leg of the account is to credit the profit and loss account to complete the record.
Answer:
the fixed cost is $1.72 million
Explanation:
The computation of the fixed cost is shown below:
= Total cost - variable cost
= $3.4 million - ($4.6 million - $3.4 million) ÷ $3.4 million - $.1.2 million ÷ $2 million
= $3.4 million - 2.8 million × $0.60 million
= $1.72 million
Hence, the fixed cost is $1.72 million
Answer: (A) Budget
Explanation:
Budget is one of the type of financial plan that is create according to our requirement and also budget.
A budget is one of the type of document that is used for describe the detailed plan in the future and it is usually expressed into the quantitative terms.
The main objective of the budget is to creating a proper plan based on the expenses, revenue, liabilities and the cost in an organization and it also helps in balancing our expenses with the income.
Therefore, Budget is the correct answer.
Answer:
The amount in September would Excom debit Product Warranty Expense is $805
Explanation:
According to the given data In order to calculate the amount in September would Excom debit Product Warranty Expense we would have to make the following calculation:
Product warranty expense
= 700 radios * 5% * cost per radio $23
Product warranty expense
=35*$23
Product warranty expense
=$805
The amount in September would Excom debit Product Warranty Expense is $805
Answer:
b) not likely to have jurisdiction over the case because QuickAds is based in Georgia.
Explanation:
The Alabama court only has jurisdiction in actions that were performed within the boundary of the state of Alabama. Although David is a resident of Alabama, his law suit is likely due to actions carried out in Georgia where QuickAds the internet company is based.
Also QuickAds only contact with persons in Alabama has been through QuickAds passive advertising.
In this scenario the case can be tried in federal court because it can handle cases across state borders.
