Answer:
C) Friday, midnight
Explanation:
In this case, the homeowner is considered a borrower, and federal law gives borrowers three full business days after signing mortgage documents to rescind any loan. Since the loan documents were signed a Tuesday, the borrower has until Friday, midnight to cancel any deal (3 days = Wednesday, Thursday and Friday).
Answer:
The accounts receivable turnover of Kelly for the year is 7.8
Explanation:
The formula for computing the accounts receivable turnover of Kelly for the year is as:
Accounts receivable turnover = Net Credit Sales / Average Accounts receivable
where
Net credit sales amounts to $820,000
Average accounts receivable formula is as:
Average accounts receivable = Beginning Accounts receivable + Ending Accounts receivable / 2
= $95,000 + $115,000 / 2
= $210,000 / 2
= $105,000
So, putting the values above as:
Accounts receivable turnover = $820,000 / $105,000
Accounts receivable turnover = 7.80
<span>barter
The barter market involves people directly trading goods and services for other goods and services. In this system haggling is customary.</span>
Answer:
Overhead rate= 1.2
Explanation:
Giving the following information:
The Work in Process inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period.
Direct material= $500, & $300
Direct labor= $400 & $600
Manufacturing overhead =?
Work in process= direct material + direct labor + manufacturing overhead
3000= 800 + 1000 + MOH
3000-800-1000= MOH
1200= MOH
Overhead rate= moh/direct labor
Overhead rate= 1200/1000= 1.2
