Answer:
$444.07
Explanation:
EMI = [P * I * (1+I)^N]/[(1+I)^N-1]
P =loan amount or Principal = 30750
I = Interest rate per month = .0565/12
N = the number of installments = 7*12 = 84
EMI = [30750*.0565/12* (1+(.0565/12))^84]/[(.0565/12))^84-1]
EMI = [30,750 * 0.0565 / 12 * 1.48374877204] / [1.48374877204 - 1]
EMI = 214.819001902 / 0.48374877204
EMI = $444.07
Answer:
Maybe a thank you letter?
I’m not sure if its correct
Explanation:
Answer: D. Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000
Explanation:
The Manufacturing overhead applied is less than the actual manufacturing overhead incurred by:
= 79,000 - 69,000
= $10,000
Manufacturing overhead is therefore underapplied as the amount applied is too low to cover the amount incurred.
The Cost of Goods sold after closing out is:
= Cost of goods sold before closing out + Underapplied manufacturing overhead
= 243,000 + 10,000
= $253,000
Answer:
$965
Explanation:
Calculation to determine what Ending inventory assuming weighted-average cost would be:
First step is calculate the Weighted-average cost
Weighted-average cost = [(480 x $2.48) + (440 x $2.75)] / (480+440)
Weighted-average cost =1,190.4+1210/920
Weighted-average cost = 2400.4/920
Weighted-average cost =2.6091
Now let determine the Ending inventory
Ending inventory = (920-550) x 2.6091
Ending inventory = 370x 2.6091
Ending inventory =$965
Therefore Ending inventory assuming weighted-average cost would be $965
Answer:
D) Todd should include the $500 in 2020 gross income in accordance with the tax benefit rule.
Explanation:
Since Todd is a cash basis taxpayer, he included the $1,500 insurance premium in his 2019 tax return. Cash basis taxpayer report revenues or expenses when the cash is received or paid, not when the service is provided.
Since he received a $500 refund in 2020, he should include it in his 2020 tax return. As a cash basis taxpayer, any money received is considered income.
