Answer:
Aug 2 2013 Notes Receivable 6000 Dr
Accounts Receivable 6000 Cr
Oct 31 2013 Interest Receivable 180 Dr
Interest Revenue 180 Cr
Oct 31 2013 Cash 6180 Dr
Notes Receivable 6000 Cr
Interest Receivable 180 Cr
Explanation:
When the note is received, the customer account will be closed and accounts receivable will be credited while a new asset of notes receivable will be created and notes receivable is debited.
The interest on notes receivable is calculated assuming a 360 day year and the 12% is annual interest rate.
The interest on note is 6000 * 0.12 * 90/360 = $180
The interest is income so wull be credited while as it is receivable, the interest receivable will be debited.
On 31 October when the note is honored and cash is received, it will be total of principal + interest so cash = 6000 + 180 = 6180
As a result, the assets notes and interest receivables will be closed and credited against cash.
Answer:
The years of repayment is 7.96 years
Explanation:
The number of years of the loan repayment can be computed using nper formula in excel.
=nper(rate,-pmt,pv,fv)
rate is the monthly interest rate which is 6.6%/12=0.0055
pmt is the amount of monthly repayment which is $2,400
pv is the amount of the finance package received which is $178,000
fv is the total amount of repayment which is unknown hence taken as zero
=nper(0.0055
,-2400,178000,0)= 95.55 months
= 95.55 /12 months=7.96 years
Keys to preventing a fall from a ladder include:
- choosing the right ladder for the job
- tying the top and bottom of the ladder to fixed points.
- <u>keeping your hands free of carrying tools or other materials when climbing a ladder
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<h2 /><h2>Further Explanation
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Ladder is a useful tool specifically in the construction industry. However when it is used incorrectly it can cause injuries and even death. According to OSHA falls from ladders are one of the major causes of occupational injuries and death. The good news is falls can be prevented by planning, providing the right equipment and by training the workers of proper set up and safe use of equipment.
Safety while climbing
One of the goal of the training given for workers for proper set up and safe use of equipment is ensuring the safety of the worker while climbing. The following are some of the safety measures in climbing a ladder:
- The three-point rule: When climbing a ladder, always maintain three points of contact when ascending and descending a ladder (two feet, one hand or two hands, one foot)
- The OSHA standard does not include portable ladders in the six-foot tie-off requirements, but that has not stopped a lot of companies from including it in their best practices. In fact, some companies require tying off when as low as four feet off the ground.
- Never climb a ladder while carrying tools or equipment. Use a rope to raise and lower tools after you have climbed to the desired height.
- Lashing: If one ladder is good, then two is not better. Lashing is when two ladders are tied together to reach greater heights. Never do this.
- Belt buckle rule: Never overextend. Workers always should keep the center of their bodies (belt buckle) between the side rails of the ladder. If they can't safely reach something, they need to climb down, move the ladder and climb back up.
- Face the ladder: Always climb facing the ladder, wear proper foot wear and make sure all spreader bars and latches are fully locked.
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Learn more: </h2>
- Safety Data Sheet (SDSs) and Labels brainly.com/question/5400978
- Needlestick Safety and Prevention Act brainly.com/question/8348153
- Ergonomic hazards brainly.com/question/1027618
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Keywords: ladder, OSHA, safety, occupational safety
