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galben [10]
3 years ago
5

Louvers, Inc., accepted a $15,000, 180-day, 10 percent note from a customer on May 31. On June 30, Louvers prepared a period-end

adjusting entry to accrue the $125 of interest owed on the note. The note is honored on November 27. Prepare the necessary November 27 entry for Louvers by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
g100num [7]3 years ago
7 0

Answer:

November 27

Dr Cash $15,750

Cr Interest Revenue $625

Cr Interest Receivable $125

Cr Notes Receivable for $15,000

Explanation:

Preparation for the necessary November 27 entry

November 27

Dr Cash $15,750

[$15,000+($15,000 × 10% × 180/360) ]

($15,000 + $750=$15,750)

Cr Interest Revenue $625

( $15,000 × 10% × 150/360),

Cr Interest Receivable $125

Cr Notes Receivable for $15,000

Note that between the month of June 30 and November 27 we would have a total of 150 days

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Comparing ABC and Plantwide overhead Cost Assignments Wellington Chocolate Company uses activity-based costing (ABC). The contro
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Answer:

$432,000 Setting up equipment ⇒ based on setup hours

$1,440,000 Other overhead ⇒ based on oven hours

product                units produced            setup hours          oven hours

Fudge                         8,000                         6,400                    1,600

Cookies                  445,000                         1,600                    8,000

1) Activity rate:

  • a) setup hours = total setup costs / total setup hours = $432,000 / 8,000 hours = $54 per setup hour
  • b) oven hours = total other overhead costs / total oven hours = $1,440,000 / 9,600 hours = $150 per oven hour

2) total overhead assigned to fudge = (6,400 setup hours x $54 per setup hour) + (1,600 oven hours x $150 per oven hour) = $345,600 + $240,000 = $585,600

5 0
3 years ago
Suppose a local bank increases the fees they charge for their bank accounts by 2020 percent. In​ response, the demand for their
Musya8 [376]

Answer:sory i doont nhow

Explanation:

6 0
3 years ago
Panda Inc. had total sales of $24,000 from bamboo bowls in 2017. The company sold 6,000 units of bamboo bowls and the total vari
xxMikexx [17]

Answer:

Contribution percent = 75%

Explanation:

Given:

Total sales = $24,000

Total Variable cost = $6,000

Total units = 6,000

Contribution percent = ?

Computation of Contribution :

Contribution = Total sales - Total Variable cost

Contribution = $24,000 - $6,000

Contribution = $18,000

Computation of Contribution percent :

Contribution percent = Contribution / Total sales

Contribution percent = 18,000 / 24,000

Contribution percent = 0.75

Contribution percent = 75%

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Mention ONE other source of wealth other than inheritance
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Answer:

Power is another source other than inheritance.

Hope this helped you!

Explanation:

6 0
3 years ago
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