Answer:
$500
Explanation:
The average cost per seat will be the total cost per plane divided by the seating capacity.
Therefore, the average cost of $50,000 divide by 100 seats
=$50,000/50 seats
=$500
Answer:
Dr Interest Receivable 4,000
Cr Interest Revenue 4,000
Explanation:
Preparation of XYZ Corporation Adjusting entry
Since the XYZ Corporation loaned the amount of $600,000 to another corporation on December 1, 2020 in which XYZ Corporation received a 3 month and 8% interest-bearing note with a face value of $600,000, the first step to take is to find the interest bearing note which is calculated as 4,000(1/12×8%×600,000) and the second step is to record the transaction as :
Dr Interest Receivable 4,000
Cr Interest Revenue 4,000
(1/12×8%×600,000)
The profit motive
Hope this helped!
STSN
