Which formula should be used to correctly calculate the<br> monthly mortgage payment?

Wages expense Wages payable Utilities expense Accounts payable Unearned service revenue Service revenue Equipment Intangible ass

Elena-2011 [213]

Answer and Explanation:

The adjusting entries are shown below

1. Accrued wages expenses

Wages expense Dr XXXXX

To Wages payable XXXXX

(Being the accrued wages is recorded)

For recording this we debited the wages expense as it increased the expense and credited the wages payable as it also increased the liabilities

2. Accrued utilities expenses

Utilities expense Dr XXXXX

To Account payable XXXXX

(Being the accrued utilities expense is recorded)

For recording this we debited the utility expense as it increased the expense and credited the account payable as it also increased the liabilities

3. For adjusting the unearned service revenue

Unearned service revenue Dr XXXXX

To Service revenue XXXXX

(Being the unearned service revenue is recorded)

For recording this we debited the unearned service revenue as it decreased the liability and credited the service revenue as it increased the revenue

7 0

3 years ago

According to the Huff Gravity Model, the two factors which attract consumers to a store location are: travel time for customer t

azamat

Answer:

The correct answer would be option B, The attractiveness of the store's location and the time it takes to travel to the store.

Explanation:

According to the Huff Gravity Model, The two factors which attract customers to a store location are the attractiveness of that store's location and the time it takes to travel to the store.

This means that according to the Huff theory, people will likely to purchase from a store which is present at a more attractive location and also the time taken to reach at that specific store is less. For example, I myself prefer going to Lulu Hypermarket over Panda Hypermarket because of the difference in the location of both the stores and also Lulu Hypermarket is more near to me than Panda Hypermarket. The location of Lulu is more attractive.

5 0

2 years ago

Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement [LO 5-5]Riverside Inc. ma

Lyrx [107]

Answer:

64% it's the contribution margin of the company.

Explanation:

To find the contribution margin we need to find the gross profit which is the total sales minus the variable cost of goods, te contribution margin doesn't include the fixed costs only the variable ones.

Income Statement

Quantities 400 600 750 1.000

Sales $148,000 $222,000 $277,500 $370,000

Cost of goods sold -$54,000 -$81,000 -$101,250 -$135,000

Contribution Margin $94,000 $141,000 $176,250 $235,000

64% 64% 64% 64%

Fixed Cost -$60,000 -$60,000 -$60,000 -$60,000

Total Cost -$114,000 -$141,000 -$161,250 -$195,000

Operating Income $34,000 $81,000 $116,250 $175,000

5 0

3 years ago

Assume that you have entered into a swap agreement for a notional of 100M USD under which every 6 months you agree to pay LIBOR

hodyreva [135]

Answer:

C) 0.5 USD

Explanation:

Swap is an arrangement in which two parties exchange their interest rates for mutual benefit. One party may receive fixed rate and other will receive floating rate based on LIBOR. In the given scenario the swap agreement was originated when the LIBIOR was 3%. The fixed rate was set to be at 4% so the net gain at the time of inception was 1%. When LIBOR increased after six month the net gain declined to only 0.5%.

4 0

2 years ago

What are examples of criteria used in conditional formatting? Check all that apply. less than equal to added to divided by great

natima [27]

Answer:

Less than

Equal to

Greater than

Explanation:

Considering the listed options, the criteria used in conditional formatting are Less than, Equal to and Greater than

To make use of conditional formatting, follow the highlighted steps

1. Highlight cells that you want to format

2. Goto Home tab -> Styles -> then select Conditional Format

3. Select Highlight Cells Rules

4. Select the format type (this is where you get to pick either of greater than, equal to less than, etc.)

5. Enter the format value and how it is to be formatted

6. Press OK

3 0

2 years ago

Which formula should be used to correctly calculate the monthly mortgage payment?