Answer: Please see answer in explanation column
Explanation:
a) Due date = April 22+90 days = July 21
b) Maturity value = 96,000+(96,000*6%*90/360) = $97,440
c1) Journal entry for receipt of note by Bork Furniture
journal Debit Credit
Notes receivable $96,000
Account receivable $96,000
C2) Journal entry to record receipt of payment at maturity
journal Debit Credit
Cash $97,440
Notes receivable $96,000
Interest revenue $1,440 (97,440-96,000)
Answer:
Tax brackets show you the tax rate you will pay on each portion of your income
Answer:
1. 0.5
2. $360,000
3. $25,500
Explanation:
The BEP which is the break even point is the point where the company's sales or revenue generated is equal to the cost incurred. As such, the BEP is the number of units that must be sold for the company to make neither a profit nor a loss.
Both sales and variable cost are dependent on the number of units sold.
The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.
CM Ratio
= 1500000/3000000
= 0.5
Break even point in $ = Fixed cost/ CM ratio
= $180,000/0.5
= $360,000
If the sales increase, the variable cost will also increase as both are dependent on the level of activity.
If sales increases by $51,000, number of units sold
= $51,000/$120
= 425
Increase in variable expense
= 425 * $60
= $25,500
Increase in net operating income
= $51,000 - $25,500
= $25,500
Answer:
The statement is: True.
Explanation:
If we have been given an assignment, it is important to set a schedule of activities to ensure that the final form of our work is delivered on or before the <em>due date</em>, if possible. In the way, there could be problems of various types -for example, technology when delivering a report- that could interrupt our work. Therefore, it is important to consider those risks while scheduling so that we have a contingency plan that will not impact our research and the date we will deliver it.
Week 6:
Upload your Completed Excel Worksheet and Access Database with Imported Data and Tables
By the end of this week you will submit your completed Excel worksheet with employee data and created chart. You will also need to submit your Access Database with imported Excel data and two tables containing employee personal information
and workplace information. Now that the information has been entered and formatted in Excel, import the data into Microsoft Access as ADP has requested. Arrange the data into two tables: Personal Information and Workplace Information. Important Note: The employees names (first and last) need to appear in both tables.
Week 7:
Upload your Completed Access Database & One-page Narrative
By the end of this week you will submit your completed Access database with tables, queries, forms, and report. You will also need to submit a one-page narrative that answers the three questions provided below.
Your next steps for Week 7 are to
: • Join the two (2) tables based on the Last Name field with referential integrity enforced.•
Perform a simple query based on the two (2) tables using any criteria you feel appropriate.•
Create a parameter query based on the two (2) tables using any criteria you feel applicable.•
Produce a form based on the records in the Personal Information table. Select a form design you believe represents the data in the most professional manner
