Answer:
Notes payable; $10,000
Explanation:
Given that,
Borrowing amount = $10,000
Time period = 60 day
Interest rate = 8%
On the due date of the note, avers co. paid the amount.
Therefore, this entry would be recorded by Avers with a debit to Notes payable with an amount of $10,000.
Interest amount = $10,000 × (60 ÷ 360) × 0.08
= $10,000 × 0.17 × 0.08
= $136
(Note: Assuming 360 days in a year)
Therefore, the Journal entry is as follows:
Notes payable A/c Dr. $10,000
Interest Expense A/c Dr. $136
To cash $10,136
(To record Avers pays the amount due in full)
Answer:
A. 300
Explanation:
Market value is simply the market capitalization of a publicly traded company. Formula for calculating,
Market Value = no. of produced goods × average price.
Given that
No. of chocolate solid bunnies produced = 30
Average price of chocolate solid bunnies = $10
Therefore,
Market value = 30 × 10
= $300.
Answer:
$778460
Explanation:
Using the highlow method, we calculate the variable cost per unit,
- VC / unit = 855460 - 651960 / 730000 - 545000 = $1.1per unit
- The total fixed cost will be = 855460 - (1.1 * 730000) = $52460
The cost estimating equation will be,
- Total cost at x number of unit = 1.1x + 52460
The cost of manufacturing supplies for the month of July will be,
- Total cost (July) = 1.1(660000) + 52460 = $778460
Answer:
$89,100
Explanation:
Let us first calculate annual gross rent for Year 1:
Total rent per month:
= 2 suites at $1,800 + 1 suites at $3,600 + 5 suites at $1,560
= $3,600 + $3,600 + $7,800
= $15,000
Annual gross rent = Total rent per month × 12
= $15,000 × 12
= $180,000
Effective gross revenue = Potential gross rent revenue - Vacancy and connection losses (10% of potential gross rent)
= $180,000 - $18,000
= $162,000
Net operating income = Effective gross revenue - Operating expenses including depreciation
= $162,000 - $72,900
= $89,100