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Deffense [45]
3 years ago
6

A company borrowed $15,000 by signing a 120-day promissory note at 10%. The total interest due on the maturity date is: (Use 360

days a year.)
Business
1 answer:
topjm [15]3 years ago
7 0

Answer: $500

Explanation:

Interest for the period = Amount borrowed * Interest rate * 120/360 days

= 15,000 * 10% * 120/360

= $500

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Cayuga Hardwoods produces handcrafted jewelry boxes. A standard-size box requires 8 board feet of hardwood in the finished produ
cupoosta [38]

Answer:

$44 per case.

Explanation:

If  A standard-size box requires 8 board feet of hardwood in the finished product. In addition, 2 board feet of scrap lumber are normally left from the production of one box. Hardwood costs $4.00 per board foot, plus $1.50 in transportation charges per board foot.

Then, To calculate the standard cost of direct materials for the jewelry box, we multiply the direct materials standard price of $4.00 (plus the transportation costs of 1.50 per board foot) by the direct materials standard quantity of 8 feet (8 board feet of hardwood in the finished product) per unit.

The result is a standard direct materials cost of $44 per case.

8 0
3 years ago
Splendid Occasions received $2,970 for services to be performed for the next 8 months on March 31 and recorded this transaction
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Answer:

If Splendid Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?

Ans: $2,970

The ''other method'' in question is the Cash method which recognizes revenue when cash is paid unlike the Accrual method that recognizes it when earned.

Using the Cash method the Service Revenue would be $2,970 because the cash has been received for it.

If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May?

= Cash revenues - Cash expense

=  Received cash for meals served to customers - Prepaid rent for three months - Received and paid electricity bill

= 2,530 - 2400 - 60

= $70

If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May?

= Revenue - Expense

= Served a banquet on account + Received cash for meals served to customers - Rent - Electricity - Accrued salary expense - depreciation

= 2,810 + 2,530 - (2,400/3) - 60 - 2,670 - 380

= $1,430

<em>Cash spent on Equipment is not expense but capital expenditure. </em>

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2 years ago
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What research will help prepare you before you apply for a job?

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I believe, this programmed decision could best be described by: Classical Model.
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This model commonly provide the most objective solution but often fail to see how emotions and relationship between members could influence the decisions.
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3 years ago
Which of the following terms is also known as the bottom line?
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your answer will be A . Loss

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