Answer:
$196,730
Explanation:
The note payable signed has an interest rate of 6% per year. Since the amount is paid back in 6-months, only half a period should be considered when calculating interests due. The total amount that New Morning Bakery should pay back on May 1, 2022 is given by:
The company will need to pay $196,730.
Answer:
The correct answer is letter "D": brand equity.
Explanation:
Brand equity is the value a company gains from its name recognition. To ensure customer loyalty the brand equity so valuable, companies must consistently produce quality products. This creates loyal customers who are willing to pay more for a preferred brand.
The practice of creating a liability when a company incurs an expense that cannot be directly linked to a specific accounting period most likely refers to companies may recognize such expenses in periods during which profits are high, as they can afford to take the hit to income, with a view to reducing the liability (the reserve) in future periods during which the company may struggle.
A liability is something that an individual or company owes, usually a monetary amount. Liabilities are settled over time by the transfer of economic benefits, including money, goods, or services.
Current liabilities are short-term financial obligations of a company that matures within one year or within the normal business cycle. The operating cycle, also known as the cash conversion cycle, is the time it takes a company to purchase inventory and convert sales into cash.
In general, mitigating the risk of legal liability requires acting lawfully and taking clear responsibility for the well-being of others (groups that include customers or clients, competitors, and the general public).
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<u>d.) Title insurance</u> is one of the fees that is paid at the closing of a home purchase when it is finalized.
There are two types of title insurance.
1) Lender's Policy Title Insurance - this is an insurance to assure the lender the you own the home and that the mortgage applied is a valid lien. This happens when you buy a house through bank financing.
2) Owner's Policy Title Insurance - this is an insurance policy that protects you as the owner of the house when third party contests your ownership of the house.
Answer:
The predetermined overhead rate for the recently completed year was $25.33
Explanation:
The formula to compute the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
where,
Total estimated manufacturing overhead = Estimated total fixed manufacturing overhead + estimated variable manufacturing overhead rate × estimated labor hours
= $1,230,440 + $3.12 × 55,400 hours
= $1,230,440 + $172,848
= $1,403,288
Now put these values to the above formula
So, the rate would equal to
= $1,403,288 ÷ 55,400 hours
= $25.33
