Answer:
General Journal
Accounts Titles and Explanation Debit Credit
Office supplies $295
Advertising expense $120
Transportation expense $75
<em>Cash short and over $11 </em>
Cash ($800 - $299) $501
(Being replenishment of fund recorded)
Answer:
annual payment = $2,362.88
Explanation:
we must first calculate the future value of the loan at the end of year 4 = $6,226 x (1 + 11%)⁴ = $9,451.51
using the present value of an annuity formula we can determine the annual payment:
annual payment = present value of an annuity / PV annuity factor
- present value of an annuity = $9,451.51
- PV annuity factor 11%, 4 periods = 3.1024
annual payment = $9,451.51 / 3.1024 = $2,362.88
D. Economic growth creates the wealth that pays for defense and future investments.
Answer:
0,087792106 = rate
Explanation:
We need to calculate the interest of the investment
principal x (1 + rate)^time = value
replacing with the know values
24,000 x (1+rate)^2 = 28,399
28,399/24,000 = (1 + rate)^2
sqrt (28,399/24,000) -1 = rate
now we solve for the unknown value
0,087792106 = rate
Answer:
Material quantity variance =$74, 280 unfavorable
Explanation:
<em>The material quantity variance occurs when the actual quantity of material used to achieve a given level of output is more or less than the standard quantity expected.</em>
For Silmon Corporation, it can be computed as follows:
Quantity variance is
Gram
5,300 units should have used ( 5300× 5.1 ) 27,030
but did used <u>39,410</u>
Variance in quantity 12,380 Unfavorable
Price per unit <u> × $6</u>
Material quantity variance <u> $ 74,280</u>. Unfavorable
Material quantity variance =$74, 280 unfavorable