Answer:
Dr Cash $1,100
Cr Notes receivable $1000
Cr Interest revenue $100
Explanation:
The $1,100 receipt of cash from C.Mate comprises of $1000 principal and $100 interest revenue,the $1000 should be credited to notes receivable since it is a reduction in asset and $100 credited to interest revenue as an increase in income.
The debit would be to cash account as an increase in cash and cash equivalents in the balance sheet of Android Products Inc,under the current assets section.
Answer:
$22
Explanation:
The computation of the predetermined manufacturing overhead rate per hour is shown below:
= Total Factory overhead ÷ Estimated labor hours
where,
Total factory overhead is
= Salary of factory supervisor + Heating and lighting costs for factory + Depreciation on factory equipment
= $37,000 + $22,300 + $5,600
= $64,900
And, the machine hours is 2.900
So, the predetermined overhead rate is
= $64,900 ÷ 2,900
= $22
This is the answer but the same is not given in the options
Answer:
interest amount = $874.50
Explanation:
given data
LTV loan = 80%
amount = $318,000
interest rate = 4.125% = 0.04125
to find out
interest payment the first month
solution
first we get here loan amount that is
loan amount = 80% of $318,000
loan amount = $254,400
now we get here interest amount for 1st month that is
interest amount = loan amount × interest rate × time period
put here value
interest amount = $254,400 × 0.04125 × 
interest amount = $874.50
Reducing gross of income will help you reallocate funds to raise your child
