Answer:
In fact these loans are basically short term loans which do not require any collateral pledging to get its approval. ... Instead, the criterion for availing these loans is very simple.
Answer: Gross pay- $1750.00
Net pay - $1,215.75
Explanation: Gross pay = Nomal time =$28*40= $1,120. Overtime = $28*1.5*15= $630 Total= $1,750
Net pay = $1,750 less Security tax, Medicare tax, federal income tax withheld.
$1750* 6.0%= $105
$1750* 1.5% = $26.25
Tax withheld= $403
Net pay= $1,750-$105-$26.25-$403
= $1,215.75
The journal entry to record the payment of the note and entire interest on april 1, 2017 is as follows; Debit Notes Payable $4,000, Debit Interest Expense 120, Debit Interest Payable 40, <span>Credit Cash $4,160.
April 1,2017
Notes payable $4,000
Interest expense $120
Interest payable $40
Cash $4,160</span>
The appropriate labels for Curves N and M in the nearby graph is that the Curve N is total cost and Curve M is total variable cost.
<h3>Why is the curve as stated about?</h3>
Because a fixed cost is constant, this is not shown on the graph, however, the movement of the variable cost impacts directly on the total cost as well but it will be higher.
Hence, the appropriate labels for Curves N and M in the nearby graph is that the Curve N is total cost and Curve M is total variable cost.
Therefore, the Option C is correct.
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