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3 years ago

On july 7, smithview bank lent $430,000 to andrews retail shop on a 90 day, 6% note. what is the maturity date of the note?

1 answer:

6 0

B .There are 24 days remaining in July (31 - 7 ); 31 days in August; 30 days in September; and 5 days in October (24 + 31 + 30 + 5 = 90 days).

The days are not only based on estimation but on Accurate number of days in each month. Since it is written in july 7 then its maturity will be on october 5

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Wilmington Company has two manufacturing departments--Assembly and Fabrication. It considers all of its manufacturing overhead c

leva [86]

Answer:

1. $3,380

2. $2,175

Explanation:

Part 1

Predetermined overhead rate = Total Overheads for the Company ÷ Total Direct labor-hours for the Company

= $ 15,080,000 ÷ 232,000

= $65

Overheads applied to Job Bravo = ( 30 x $65) + (22 x $65) = $3,380

Part 2

Assembly department

Predetermined overhead rate = $ 7,250,000 ÷ 145,000

= $50

Assembly department

Predetermined overhead rate = $ 7,830,000 ÷ 290,000

= $27

Overheads applied to Job Bravo = (30 x $50) + (25 x $27) = $2,175

3 0

3 years ago

At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player at full capacity that normally

stiks02 [169]

Answer:

Effect on income= $0

Explanation:

Because the company has excess capacity and it is a special offer that would not affect normal sales, we will not include the fixed costs.

Effect on income= total sales revenue - total variable cost

Effect on income= 24*4,960 - (20 + 4)*4,960

Effect on income= $0

8 0

2 years ago

In a press conference, the president of a small country displays a chart showing that GDP has risen by 10 percent every year for

iragen [17]

Answer:

a) the correct answer is "B"

b) the correct answer is "C"

Explanation:

a) the correct answer is "B"

relies on nominal GDP which might have increased because of price increases and not output increases. As nominal GDP accounts for the price and it is calculated at the current price level. The answer is "B".

b) the correct answer is "C"

We can ask for growth rate of real GDP which excludes price change.

8 0

3 years ago

If you are in a car accident caused by someone else who also has insurance, which type of insurance plan will not require you to

ICE Princess25 [194]

I would recommend Liberty Mutual , They have a ton like in this snip i took for you.

4 0

3 years ago

Read 2 more answers

On December 31, 2017, Ivanhoe Company had $1,313,000 of short-term debt in the form of notes payable due February 2, 2018. On Ja

gizmo_the_mogwai [7]

Answer:

They should be reported in 2 different parts, first under current liabilities as:

Notes payable $269,000

Then under long term liabilities:

Notes payable expected to be refinanced $1,044,000

Explanation:

the total short term notes payable on December 31 = $1,313,000

$1,044,000 were paid off by issuing common stocks, so that portion of the debt must be reported as notes payable expected to be refinanced (or refinanced debt)
the remaining $269,000 which were paid using cash reserves must be reported as current notes payable

5 0

3 years ago