The correct answer is false.
Hope that helped you! c:
Answer:
The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.
Explanation:
Financial institutions is a company or a firm that deals with financial and monetary activities such as; loans, deposits, investments and currency exchange. Most financial transactions especially loans and savings usually have an interest rate that is set by the financial institution. The amount of interest can be paid by the borrower in a case where an individual takes a loan from the financial institution. Interest can also be paid by the financial institution in a case where the individual or group opens a savings account with the financial institution. In both cases, the interest rate is set by the financial institution. The amount of interest payable can be determined using the formula below;
A=PRT
where;
A=amount of interest payable
P=principle amount. The principal amount can either be the loan amount or the savings deposit amount
R=interest rate
T=number of years
The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.
Answer: construction receivable
Explanation:
Accounts receivable management involves improving the collection process for efficiency, identifying the reasons for nonpayment and being proactive in reminding clients about their overdue accounts.
Answer:
A. Dividends 11,700 Dividends Payable 11,700
Explanation:
The journal entry to record the dividend declared is shown below:
Dividend A/c Dr $11,700
To Dividend payable $11,700
(Being the dividend is declared)
The computation is shown below:
= (Number of shares issued - treasury stock) × cash dividend per share
= (20,000 shares - 7,000 shares) × $0.90
= 13,000 shares × $0.90
= $11,700
Answer:
$76
Explanation:
The computation of Unit product cost under variable costing is shown below:-
Unit product cost under variable costing = Direct material + Direct labor + Variable manufacturing overhead
= $47 + $21 + $8
= $76
So, for calculating the Unit product cost under variable costing we simply added the direct material, direct labor and variable manufacturing overhead.
