Answer:
Schedule:
![\left[\begin{array}{cccccc}$Period&$Beginning&$Installment&$Interest&$Amortization&$Ending\\1&113515&15700&0&15700&97815\\2&97815&15700&2934&12766&85049\\3&85049&15700&2551&13149&71900\\4&71900&15700&2157&13543&58357\\5&58357&15700&1752&13948&44409\\6&44409&15700&1333&14367&30042\\7&30042&15700&902&14798&15244\\8&15244&15700&456&15244&0\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccccc%7D%24Period%26%24Beginning%26%24Installment%26%24Interest%26%24Amortization%26%24Ending%5C%5C1%26113515%2615700%260%2615700%2697815%5C%5C2%2697815%2615700%262934%2612766%2685049%5C%5C3%2685049%2615700%262551%2613149%2671900%5C%5C4%2671900%2615700%262157%2613543%2658357%5C%5C5%2658357%2615700%261752%2613948%2644409%5C%5C6%2644409%2615700%261333%2614367%2630042%5C%5C7%2630042%2615700%26902%2614798%2615244%5C%5C8%2615244%2615700%26456%2615244%260%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Journal entries:
equipment 113,515 debit
lease liablity 97,815 credit
cash 15,700 credit
--to record lease agrement and first payment.
interest expense 2,934 debit
lease liability 2,934 credit
--to record interest for the year 2021--
lease liablity 15,700 debit
cash 15,700 credit
--to record Jan 1st,2022 Payment--
Explanation:
As the payment are at the beginning there is no interest in the first period.
We record the expense for the year at Dec 31th Increasing the liability. When paying we increase decrease the liability and cash.
Answer: Cost per unit $15.2, cost of good sold $10,640
Explanation:
Weighted Average cost per unit = 15,200/1000
= $15.2
Ending inventory (400 × 15.2)
= 6,080
Cost of good available for sale = 15,200
Cost of good sold (700 × 15.2)
= $10,640
Answer:
Option (d) is correct.
Explanation:
Given that,
Reserve requirement = 0.08
Demand deposits = $200,000
Holding in reserves = $4,000
Reserve required:
= Reserve Requirement ratio × Amount of demand deposits
= 0.08 × $200,000
= $16,000
Therefore, the reserves in holding is less than the required reserves. Hence, the bank is not meeting its reserve requirement.
The debt-to-equity ratio is calculated by dividing total liabilities by net worth.
<h3>What is the
debt-to-equity ratio?</h3>
The debt-to-equity ratio is a financial ratio that is used to determine the credit worthiness of a business. It is determined by dividing the total debt by the total equity. The lower the ratio, the higher the credit worthiness of a business.
To learn more about financial ratios, please check: brainly.com/question/26092288
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