Answer:
$ 50.625
Explanation:
Amount of deposit = $50
interest 5 percent usually per year
Per year interest rate = 5/100= 0.05
Interest rate for 3 months= 0.05/12 x3
=0.0125
Interest amount =0.0125 x50= 0.625
Money in the account will be
=$50+0.625
=$ 50.625
Answer: $24,080
Explanation:
The Static budget is based on a particular level of production and once it is prepared, it does not change even if the assumptions used in the calculation of the budget changes.
In this case, the budgeted direct material cost is $24,080 for a production level of 3,500 units of finished goods. This material cost is therefore based on a certain production level which makes it the static budgeted amount for materials.
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Answer:
The company can accept its customers request and it should allow all its customers to avail same discount to avoid antitrust laws violation.
Explanation:
The customers with high volume can ask for discount from the company as their bargaining power is high. The company can consider the request of its customers and grant them discount unless the company gains no profit from trade. If the transaction is profitable for the company, it will allow its customers to stay with the company and will accept their requests.
Answer:
The journal entry for Rasheed company on April 1,2020 will be:
Account title Dr Cr
Cash 192,000
Finance charge 8,000
Notes payable 200,000
Finance charge = $400,000 x 2% = 8,000
Notes Payable = 200,000
Cash = 200,000 - 8,000 = 192,000
