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3 years ago

Match each type of lending institution to its description.

1 answer:

4 0

Credit union - provides credit only to the organization’s members

Payday lender - offers short-term credit at very high interest rates

Consumer finance company - typically provides credit for purchasing items on an installment basis

Bank - provides credit for a wide variety of purposes and periods of time.

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Exercise 21-15 Direct materials and direct labor variances LO P2 The following information describes production activities of Me

Molodets [167]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Actual direct materials used 16,000 lbs. at $4.05 per lb.

Actual units produced 30,000

Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound.

To calculate the direct material price and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (4 - 4.05)*16,000

Direct material price variance= $800 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Standard quantity= 30,000*0.5= 15,000

Direct material quantity variance= (15,000 - 16,000)*4

Direct material quantity variance= $4,000 unfavorable

6 0

3 years ago

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What do we call risks in the absence of controls and after controls have been implemented?.

SashulF [63]

Risk that exists both before and after controls have been put in place is known as inherent risk.

What is risk?

The term "risk" refers to degree of unfortunately and possibility of loss, injury and hazard. Risk is barrier in the organization.

The various risk levels in a process that have not been regulated or mitigated by risk management are referred to as inherent risk. The level of risk present even in the absence of safeguards is known as inherent risk.

As a result, Inherent risk is risk in the absence of controls and after controls have been implemented.

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8 0

2 years ago

Exercise 10-2 Recording bond issuance at par, interest payments, and bond maturity LO P1 Brussels Enterprises issues bonds at pa

Elden [556K]

Answer:

June 30 Bond Interest Expense Dr $81000

Cash Cr $81000

(6%/2*$2,700,000)

December 31 Bond Interest Expense Dr $81000

Cash Cr $81000

Bonds Payable Dr $2,700,000

Cash Cr $2,700,000

Explanation:

Record the entry for the first semiannual interest payment and the second semiannual interest payment.

June 30 Bond Interest Expense Dr $81000

Cash Cr $81000

(6%/2*$2,700,000)

December 31 Bond Interest Expense Dr $81000

Cash Cr $81000

Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded).

Bonds Payable Dr $2,700,000

Cash Cr $2,700,000

3 0

3 years ago

Bond P is a premium bond with a 10 percent coupon. Bond D is a 5 percent coupon bond currently selling at a discount. Both bonds

ale4655 [162]

Let Bond par value be 1000

Bond P:

Coupon rate=10%

YTM=7%

time=9 years

Calculation of current price:

Particulars Year Amount PV Factor YTM=7% Present value

Ineterest 1-9 years 100 6.515232 651.52

Value 9 1000 0.543934 543.93

1195.45

Current price =1195.45

Current yield=Annual interest based on coupon rate*100/current price

The current yield of Bond P=100*100/1195.45=8.37%

Bond D:

Coupon rate=5%

YTM=7%

time=9 years

Calculation of current price:

Particulars Year Amount PV Factor YTM=7% Present value

Interest 1-9 years 50 6.515232 325.76

Value 9 1000 0.543934 543.93

869.69

Current price =869.69

Current yield=Annual interest based on coupon rate*100/current price

The current yield of Bond D=50*100/869.69=5.75%

Capital gains yield

current price bond P=1195.45

Next year's price bond P=100°5.971299+1000*0.582009=1179.14

The capital gain yield on bond P=(next year price-current price)/current price

=(1179.14-1195.45)/1195.45

=-1.36%

current price bond D=869.69

Next year's price bond D=505.971299+1000*0.582009=880.57

The capital gain yield on bond D=(next year price-current price)/current price

=(880.57-869.69)/869.69

=1.25%.

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1 year ago

Berman & Jaccor Corporation's current sales and partial balance sheet are shown below.

blsea [12.9K]

Sorry but this is kind of confusing but can you plz help me with this math problem

Santa is trying to buy socks for all his elf helping the year. He went on Amazon and found a pack of 8 socks for $24. He wants to know what each socks cost to be able to write an equation, and later he wants to know how much 12 socks with cost him.

I need the Ratio, Unit Rate, C.O.P. And an equation

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2 years ago

Read 2 more answers