your method was incorrect.
the correct answer is:
interest accrued per month: 976.34*10.75/100*1/12= $8.75
interest from savings account: $100 * 2.75/100 *1/12 = $.23
3.difference is: 8.75 - . 23= $8.52 (answer)
4. amount towards principal after $100 payment is ($100-$8.75)= $91.25(answer)
Let us assume that the company Taylor Industries bought merchandise from X company. Taylor Industries will record Accounts Payable while X company will record Accounts Receivable.
Since Taylor Industries will no longer be able to pay off its Account Receivable, X company will have to write off the Accounts Receivable. Writing off Accounts Receivable can be done in two ways.
1) Allowance method:
Bad Debt Expense xxxxx
Allowance for Doubtful accounts xxxxx
Writing Off Bad Debt:
Allowance for Doubtful Accounts xxxxx
Accounts Receivable xxxxx
2) Direct Write-off method.
Bad Debt Expense xxxxx
Accounts Receivable xxxxx
In the books of Taylor Industries, it must recognize the cancellation of the Accounts Payable from the transaction with X company.
Accounts Payable xxxxx
Other Income xxxxx
We have that the statement is as follows
In an organization that has a ____ functional structure____, a centralized decision-making <em>mechanism </em>helps in the resolution of conflict between subunits.
<h3>Centralized decision-making mechanism</h3>
Generally,Centralized selection making in a useful shape helps in stopping feasible conditions the place disputes can arise.
We see that centralized choice making mechanism does is that every purposeful branch is required to comply with choices that go with the flow down from the pinnacle administration.
Therefore, In an organization that has a ____ functional structure____, a centralized decision-making <em>mechanism </em>helps in the resolution of conflict between subunits.
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Answer:
1. Asset turnover times.
=1.31 times
2. Return on assets. = 7.9%
3. Return on common stockholders’ equity =10.5%
Explanation:
Asset turnover
Asset turnover indicates how efficient a business in the use of asset to generate sales. The higher the number of times the better.
Asst turnover = Turnover /Total asset
= 757,500/577,100
=1.31 times
Return on Asset
Return on asset is measure of the percentage of asset earned as income. The higher the better
Return on assets = Net income/Assets
= 45,500/577,100× 100
= 7.9%
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<em>Return on Equity</em>
This measures the proportion of equity investment earned as net income. The higher the better
Return on Equity = Net income/Equity
Return on commons stockholders
= 45,500/433,400 × 100
=10.5%
Answer:
$3,000 favorable
Explanation:
The computation of actual and budgeted costs is shown below:-
Budgeted Actual
(18,000 units) (18,000 units)
Variable $54,000
($48,000 ÷ $16,000) × $18,000
Fixed $270,000
Total $324,000 $321,000
Therefore, Actual cost is less than Budgeted, so the difference between actual and budgeted costs is $3,000 is favorable.
