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g100num [7]
2 years ago
11

Duerr Company makes a $69,000, 30-day, 10% cash loan to Ryan Company. The note and interest to be collected at maturity is: (Use

360 days a year.)
Business
1 answer:
Dimas [21]2 years ago
4 0

Answer:

the journal entry to record the loan:

E.g. January 1, 202x, loan made to Ryan Company

Dr Notes receivable 69,000

    Cr Cash 69,000

the journal entry to record the collection of the note:

E.g. January 31, 202x, note collected from Ryan Company

Dr Cash 69,575

    Cr Notes receivable 69,000

    Cr interest revenue 575

interest revenue = $69,000 x 10% x 30/360 = $575

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This question refers to flexibleminusbudget variance formulas with the following descriptions for the​ variables: A​ = Actual; B
natulia [17]

Answer:

$40,000 (U)

Explanation:

Given that,

Flexible-budget variance for materials = $2,000

Price variance for material = $38,000

Sales-volume variance = $13,000

Efficiency variance for direct manufacturing labor = $9,000 (F)

Flexible-budget variance for materials = Price variance for material + Efficiency variance for materials

2,000 (U) = 38,000 (F) + Efficiency variance for materials

Efficiency variance for materials = 2,000 + 38,000

                                                      = $40,000 (U)

3 0
2 years ago
Holding all other things constant, when the price level rises, interest rates:
SashulF [63]
The interest rate will also increase and firms will want to borrow less for new plants and gear and households will want to borrow less for homebuilding. And in addtion to that interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
5 0
3 years ago
Stewart Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plant-wide factory overhead rate
Sophie [7]

Answer:

Allocated MOH= $320

Explanation:

Giving the following information:

Overhead Direct Labor Product

Hours (dlh) A B

Painting Dept. $248,000 10,000 dlh 16 dlh 4 dlh

Finishing Dept. 72,000 10,000 4 16

Totals $320,000 20,000 dlh 20 dlh 20 dlh

<u>First, we need to calculate the plantwide overhead rate:</u>

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

Predetermined manufacturing overhead rate= 320,000 / 20,000

Predetermined manufacturing overhead rate= $16 per direct labor hour

<u>Now, we can allocate overhead:</u>

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

Allocated MOH= 16*20

Allocated MOH= $320

5 0
3 years ago
It is important for a good economic model to predict cause and effect so that it can: explain events that have occurred and help
liraira [26]

Answer:

Yes it is

Explanation:

Because Prediction of cause and effect is important for the good economic model. If the economic model observe the cause and effect relationship, then it can be helpful to anticipate from the similar situation in future. For example, recession is causes recession. If the economic model observe it, then it can be helpful to control recession if t occurs in future.

5 0
3 years ago
Read 2 more answers
Jazz Corporation owns 50% of the Williams Corp. Stock. Williams distributed a $10,000 dividend to Jazz Corporation. Jazz Corp.'s
Elden [556K]

Answer:

$6,500

Explanation:

Calculation for the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp

Based on the information given we were told that the Jazz's Corporation owns part of Williams Corp. stock which is 50% in which Williams Corp. stock distributed the amount of $10,000 dividend to Jazz Corporation which means that Jazz Corporation share in Williams stock is higher than 20% and as well lower than 80% based on this Jazz Corp.'s will be entitled to dividend received deduction of 65% calculated as:

Dividends received deduction =$10,000 × 65%

Dividends received deduction=$6,500

Therefore the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp will be $6,500

7 0
3 years ago
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