Answer:
1. Dr Interest expense 54
Cr Accrued interest 54
( To record interest expense )
Explanation:
Interest expense = 7200 * 9% = $648 * 1 /12 = $54 for the m/o dec
Answer:
modified capitalism.
Explanation:
Capitalism is defined as an economic and political structure where factors of production are controlled by private individuals aimed at gaining profit. The state does not have control of trade and industry.
However in modified capitalism the government has some level of control which they exercise by regulating business activities to some extent.
On the other hand in pure capitalism all decisions related to trade and industry are determined by only private entities
A contract entered into between the parties by words is called AN EXPRESS CONTRACT.
An express contract is an exchange of promise between at least two parties wherein the agreed terms are expressed either orally or in writing at a time it is made. Express contract may also be both oral and written at the same time.
In price branding, here are the price components of the marketing mix:
- suggested retail price ror SRP
- seasonal pricing
- price discrimination
- Price strategy
- Cash and early payment discounts
- bundling
- Price flexibility
We can calculate the
cost of goods manufactures using the formula:
Total Cost = Cost of
Direct Materials + Direct Labor Cost + Overhead Cost – Inventory
Substituting the known
values:
<span>Total Cost = $35,000 + $73,000 + $114,000 – ($32,000 - $28,000)</span>
Total
Cost = $218,000 -----> ANSWERWe
deduct the initial from the final inventory to get the balance.
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