Answer:
A - "15 y/o"
or
B - "19 y/o"
(There are two types of this question for just choose which one is on it)
Answer:
b. understate the predetermined overhead rate
Explanation:
The rate is determinate by distributing the expected cost over the cost driver
In this case labor cost.
as this value is higher than it should
(labor + some indirect)
the result of the division will be lower thus, the overhead rate is lower than it should be without the mistake.
Answer:
B. List Operational Costs
Explanation:
Answer:
$88.88 or $89 (Approx)
Explanation:
Each point is equal to the 1 percent so, 2 points is equal to the 2%.
Amount of points paid = Borrowed amount × Points percentage
= $400,000 × 2%
= $8,000
Total number of months = Year × Months in a year
= 30 × 12
= 360
Number of months in the deduction year = September to December
= 4
Amount of deduction:
= (Amount of points paid ÷ Total number of months) × Number of months in the deduction year
= ($8,000 ÷ 360) × 4
= $32,000 ÷ 360
= $88.88 or $89 (Approx)
Answer:
Please refer to the below for Journal entries
Explanation:
The journal entries are seen below
1. Cash A/c Dr $58,523
Discount on bond payable A/c Cr $4,477
To bonds payable A/c Cr $63,000
(Being the issuance of bond that is recorded)
2. Interest expense A/c Dr $2,048
To discount payable A/c Cr $158
To cash A/c Cr $1,890
(Being the first interest payment that is recorded)
Note:
Interest expense
= $58,523 × 7% × 6 months ÷ 12
= $2,048
Cash
= $63,000 × 6% × 6 months ÷ 12
= $1,890
