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skad [1K]
3 years ago
14

Melton Company sold some machinery to Addison Company on January 1, 2014. The cash selling price would have been $947,700. Addis

on entered into an installment sales contract which required annual payments of $250,000, including interest at 10%, over five years. The first payment was due on December 31, 2014. What amount of interest income should be included in Melton's 2015 income statement (the second year of the contract)
Business
1 answer:
GREYUIT [131]3 years ago
3 0

Answer:

$79,247

Explanation:

Installment includes the interest and principal as well to be paid on equal proportion. It need to be separated to report in the financial statement. Installment amortization is used to calculate the principal portion and interest portion of each years installment.

Installment Sale Schedule

Year    Balance      Payment     Principal    Interest  

1         $947,700   $250,000   $155,230   $94,770 ( 947,700 x 10% )

2        $792,470   $250,000   $170,753   $79,247 ( 792,470 x 10% )

Interest of $79,247 should be included in  Melton's 2015 income statement.

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In order to determine the average variable cost, the firm's variable costs are divided by _______________________.
emmasim [6.3K]

Answer:

total output.

Explanation:

for example, a company manufactures 10,000 units of A. Its total variable costs are $50,000, and its total fixed costs are $25,000.

The average variable cost = $50,000 / 10,000 = $5 per unit of A

The average fixed cost = $25,000 / 10,000 = $2.50 per unit of A

The average total cost = $75,000 / 10,000 = $7.50 per unit of A

3 0
3 years ago
Please I need help on this Question! 10 POINTS***
poizon [28]

Answer:

I would say answer number 3. Debit cards access money in your account and credit cards are like a loan.

Explanation:

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5 0
2 years ago
The owners of hotels whose services are produced and consumed at the same time know that consumers do not have the opportunity t
mixer [17]

Answer:

<em>E) Satisfaction Guarantees</em>

Explanation:

<em>Satisfaction Guarantees</em> also called <em>Money-Back Guarantee</em> is  basically a straightforward assurance <em>that a refund will  be produced if a purchaser is not satisfied with a product or service</em>.

This term is widely used in advertisements or commercials advertising a product or service and has been used for a long time as a marketing strategy.

8 0
3 years ago
Following an active duty period of 45 days, when must an employee return to work or apply for reemployment?.
barxatty [35]

If your service lasts 31 to 180 days, you must return to work within 14 days of returning from completing your service requirements.

For deployments lasting more than 180 days, you must apply for re-employment within 90 days of the end of your service.

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Persons reemployed after resignation removal or dismissal provided they have not received any retirement terminal benefits for the pre-empolyed service .

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Learn more about reemployment here:

<h3>brainly.com/question/24306785</h3><h3 /><h3>#SPJ4</h3>
5 0
2 years ago
Susan buys a new cell phone priced at $145 and agrees to pay for it over 12 months with 10% simple interest. What is her monthly
algol [13]

Answer:

Monthly payment 13.

Explanation:

No Mont Capital Interest

   

1         13 12 1

2         13 12 1

3         13 12 1

4          13    12 1

5          13 12 1

6          13 12 1

7         13 12 1

8          13 12 1

9         13 12 0

10         13 12 0

11          13 13 0

12         13 13 0

     153   145 8

6 0
3 years ago
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