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3 years ago

What document explains your rights and responsibilities as a federal student loan borrower?

2 answers:

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The document that explains your rights and responsibilities as a federal student loan borrower is "Mastery Promissory Note (MPN)."

Mastery Promissory Note (MPN) is a document that contains the rights and responsibilities of an individual getting a federal student loan.

Generally, students are expected to sign this document after getting a federal student loan.

It serves as a legally binding agreement that the student will pay back their loan.

Hence, in this case, it is concluded that the document that explains your rights and responsibilities as a federal student loan borrower is "Mastery Promissory Note (MPN)."

Learn more here: brainly.com/question/24801462

LUCKY_DIMON [66]3 years ago

4 0

Answer:

brainliest answer

Explanation:

the master promissory note is document that explains your rights and responsibilities as a federal student loan borrower.

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Managers use a predetermined overhead rate for which of the following reasons?

Rashid [163]

Answer:

Option A and B

Explanation:

The company desires to estimate the cost of the job so that it can minimize it by emphasizing control. This is one of the major reasons why the companies estimate cost of the job, product or service. So option A is correct.

Option B is also correct because the companies have to form contracts with its customers and for that reason predetermined overhead rates helps a lot estimating the price of the product which the company and customer can agree upon.

Option C is incorrect because predetermined costs are estimates and estimates are not always accurate.

Option D is false because daily recording of overheads requires predetermined overhead rates which is adjusted at the month end or quarter end or year end. So its not useless at all.

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4 years ago

Northern Pacific Fixtures Corporation sells a single product for $28 per unit. If variable expenses are 65% of sales and fixed e

sveta [45]

Answer:

Break even point in dollars = $28,000

Explanation:

We know Sales - Variable Cost = Contribution

Thus, if we are provided that Variable expenses = 65% then contribution = 100 - 65 = 35%

Also provided selling price per unit = $28

Contribution Therefore = $28 $\times$ 35% = $9.80

Break even point in dollars = $\frac{Fixed\: Cost}{Contribution\: Margin}$

Here, fixed cost = $9,800

Contribution margin = 35%

Putting values in above formula we have,

Break even point in dollars = $\frac{9,800}{0.35} = $28,000$

3 0

3 years ago

Read 2 more answers

Is it nearly impossible to prove ownership of intellectual property

Roman55 [17]

Answer:

It is possible if you either have a witness or if you take a lie detector test

Explanation:

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3 years ago

On January 1, 2019, Smith, Inc., has the following balances for accounts receivable and allowance for doubtful accounts: Account

slava [35]

Answer:

1. $372,150

2. $650

Explanation:

1. Smith's preadjustment balance in accounts receivable on December 31, 2019:

= Accounts Receivable on January 1, 2019 + Credit sales - Collected accounts receivable - uncollectible accounts receivable

= $386,000 + $2,895,000 - $2,905,000 - $3,850

= $372,150

2. Smith's preadjustment balance in allowance for doubtful accounts on December 31, 2019:

= Allowance for Doubtful Accounts (a credit balance) on January 1, 2019 - uncollectible accounts receivable

= $4,500 - $3,850

= $650

3. The Journal entry is as follows:

Bad Debt Expense ($3,800 - $650) A/c Dr. $3,150

To Allowance for Doubtful Accounts $3,150

(Record adjusting entry for bad debt expense estimate)

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3 years ago

Dave Matthew Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump su

Sedaia [141]

Answer:

$78,199

Explanation:

If the market price of common stock is $165 per stock, then selling 500 common stocks should = $82,500

If the market price of preferred stock is $230 per preferred stock, then selling 100 preferred stocks should = $23,000

If we add both we would get $105,500. If we want to allocate the proceeds proportionally according to their market prices:

common stocks = ($82,500 / $105,500) x $100,000 = $78,199

preferred stocks = ($23,000 / $105,500) x $100,000 = $21,801

the journal entries should be:

Dr Cash account 78,199
Cr Common Stock account 5,000
Cr Capital Paid-in Excess of Par Value (Common Stock) account 73,199

Dr Cash account 21,801
Cr Common Stock account 10,000
Cr Capital Paid-in Excess of Par Value (Preferred Stock) account 11,801

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4 years ago