If a borrower is required to provide collateral, then the loan is considered:

Pina Colada Corp. holds Tamarisk, Inc. $44400, 120-day, 15% note. The entry made by Pina Colada Corp. when the note is collected

Dafna1 [17]

Answer and Explanation:

The journal entry is shown below

Cash $46,620

To Notes Receivable $44,400

To Interest receivable ($44,400 × 15% × 120 days ÷ 360 days)

(Being the cash received is recorded)

Here we debited the cash as it increased the assets and at the same time we credited the interest receivable and the note receivable as it decreased the assets

The same is to be considered

7 0

3 years ago

A(n) ____ model is an outsourcing fee model that charges a variable fee based on the volume of transactions or operations perfor

Svet_ta [14]

A(n) (transection) model is an outsourcing fee model that charges a variable fee based on the volume of transactions or operations performed by the application.(transection

7 0

3 years ago

Hyde's Headphones sells deluxe headphones for $90 each. Unit variable expenses total $70. The breakeven sales in units is 1000 a

crimeas [40]

Answer:

0.7835 or 78.35%

Explanation:

Budgeted Sales = $90 per unit x 4620 units = $415,800

Break-Even Sales (Revenue) = 1000 units x $90 per unit = $90,000 units

Margin of safety = (Budgeted Sales - Break-Even Sales) ÷ Budgeted Sales

Margin of Safety = ($415,800 - $90,000) ÷ $415,800 = 0.7835 or 78.35%

3 0

3 years ago

Guaranteed circulation in magazines: Multiple Choice is the maximum number of magazines that will be distributed through all cha

Alecsey [184]

Answer:

The correct answer is letter "D": is the number of copies of the magazine that the publisher expects to circulate.

Explanation:

Magazines are mediums of communication characterized for focusing on providing information to a specific customer in the market. In such a scenario we can identify auto magazines, computer and electronics magazines, and cuisine magazines just to mention a few.

The drawback of magazines relies on the delay of the information portrayed since magazines are portrayed periodically -once in a week, or once in a month usually, which implies by the time magazine is printed the information portrayed might have changed.

However, magazines sales managers handle a guaranteed circulation estimate that represents the expected number of copies the publisher aims to circulate.

3 0

3 years ago

Julio produces two types of calculator, standard and deluxe. The company is currently using a traditional costing system with ma

Julli [10]

Answer:

Results are below.

Explanation:

a)

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 313,020 / 58,000

Predetermined manufacturing overhead rate= $5.4 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard= 5.4*26,500= $143,100

Deluxe= 5.4*31,500= $170,100

b)

First, we need to calculate the allocation rates:

Material handling= 183,750 / 1,550= $118.55 per material moves

Setup= 179,180 / 660= $271.48 per setup

Now, we can allocate overhead:

Standard= 118.55*625 + 271.48*85= $97,169.55

Deluxe= 118.55*925 + 271.48*575= $265,759.75

8 0

3 years ago