The balance in the manufacturing overhead account needs to be calculated to determine if it is underapplied or overapplied. To calculate this, the actual overhead costs incurred and the overhead applied to work in process need to be compared.
If the applied overhead is greater than the actual overhead, it is considered overapplied. If the applied overhead is less than the actual overhead, it is considered underapplied.
To calculate the balance in the manufacturing overhead account, we need to compare the actual overhead costs incurred with the overhead applied to work in process.
The actual overhead costs incurred include the operating costs in the factory, office administration costs, indirect labour costs, advertising costs, and indirect materials used. In this case, the total actual overhead costs incurred can be calculated as follows:
Operating costs in the factory: $30,500
Office administration costs: $12,000
Indirect labour costs: $13,000
Advertising costs: $2,400
Indirect materials used: $9,500
Total actual overhead costs incurred = $30,500 + $12,000 + $13,000 + $2,400 + $9,500
Next, we need to determine the overhead applied to work in process. It is applied based on direct labour hours, with an estimate for the year of $600,000 manufacturing overhead and 60,000 direct labour hours.
To calculate the overhead applied, we divide the total estimated manufacturing overhead by the total estimated direct labour hours and then multiply it by the actual direct labour hours. In this case:
Overhead applied = ($600,000 / 60,000) * Actual direct labour hours
Finally, we compare the actual overhead costs incurred with the overhead applied. If the applied overhead is greater than the actual overhead, it is overapplied.
If the applied overhead is less than the actual overhead, it is underapplied. The difference represents the balance in the manufacturing overhead account.
To know more about balance, click here-
brainly.com/question/1113933
#SPJ11
what percentage of businesses are sole proprietorships
73% of all small businesses in the United States today are sole proprietorships.
The simplest and most typical structure for a small company owner is the sole proprietorship. A sole proprietorship is the simplest firm to establish or dissolve since there is minimal paperwork needed, which makes it popular among independent contractors, consultants, and small business owners.
A sole proprietor is the only owner of the company and is totally in charge of all decisions. They are not obligated to convene shareholder meetings or have voted on management concerns, unlike corporations. It is simple for sole proprietors to comply with tax reporting requirements since all business revenue is recorded on the personal tax form, which eliminates the need to submit a separate business tax return from your personal tax return.
For these reasons, 73% of all small businesses in the United States today are sole proprietorships.
To learn more about sole proprietorships, refer to:
https://brainly.com/question/4442710
#SPJ4
If the risk-free rate is 3.80 percent and the risk premium is
4.8 percent, what is the required return? (Round your
answer to 1 decimal places.)
Required return
%
The required return can be calculated by adding the risk-free rate to the risk premium. In this case, the required return would be the sum of these two values, resulting in a required return of 8.6 percent.
The required return represents the minimum rate of return an investor expects to achieve on an investment to compensate for the level of risk involved. It is calculated by adding the risk-free rate to the risk premium.
In this scenario, the risk-free rate is given as 3.80 percent, which typically represents the return on a risk-free investment such as a government bond. The risk premium is the additional return required by an investor to compensate for the extra risk associated with a particular investment. Here, the risk premium is given as 4.8 percent.
To find the required return, we simply add the risk-free rate and the risk premium:
Required return = Risk-free rate + Risk premium
= 3.80% + 4.8%
= 8.6%
Therefore, the required return in this case is 8.6 percent. This means that an investor would expect to earn at least an 8.6 percent return on the investment to justify the level of risk associated with it.
To learn more about investment click here:
brainly.com/question/29547577
#SPJ11
A decrease in the supply of loanable funds will __________ interest rates and __________ quantity demanded of loanable funds.
A decrease in the supply of loanable funds will increase interest rates and decrease quantity demanded of loanable funds.
The loanable funds market serves as an example of how savers and borrowers interact in the economy. It is a form of the market concept, but the "goods" being "purchased" and "sold" are actually sums of money that have been set aside.
Savings generate loanable money, which are then demanded by borrowers. When the real interest rate has been adjusted so that saving and borrowing are equal, the market is in equilibrium.
The loanable funds concept adds bank credit to the traditional approach, which only considered saving and investment for determining interest rates.
Due to the ability of the banking sector to generate credit out of thin air, the total quantity of credit available in an economy may exceed private savings.
To learn more about Loanable Funds here
https://brainly.com/question/15851247
#SPJ1
Which is probably NOT true about building use cases?a) Analysts are involvedb) Users are involvedc) Major processes are analyzedd) Major costs are analyzede) External or internal triggers are analyzed
One of the steps involved in building a use case is to analyze major costs. This statement is probably not true about building use cases. The answer is (d).
Building use cases involve several steps, including identifying key stakeholders, defining objectives, analyzing major processes, and identifying external or internal triggers. Use cases are diagrams or narratives that describe how users interact with a system or process to achieve a specific goal. The primary goal of building use cases is to ensure that a new system or process is designed to meet the needs of its users.
Therefore, to build use cases, analysts and users are involved, and major processes are analyzed. The identified stakeholders can help determine the cost analysis, hence, the cost analysis is not an untrue statement about building use cases. This cost analysis helps the stakeholders to be better informed about the investment and resource requirements involved in building the use cases. So, the only untrue statement is that the major costs are analyzed while building use cases.
Know more about Stakeholders here :
https://brainly.com/question/30241824
#SPJ11
All funds entrusted to a licensee on behalf of another party in the practice of real estate are by definition ______.
Answer:
Trust funds.
Explanation:
An agency can be defined as a mutual relationship existing between two parties, wherein a principal authorizes the agent to act as the principal's representative or on his behalf (fiduciary role) in dealing with third parties.
All funds entrusted to a licensee on behalf of another party in the practice of real estate are by definition known as trust funds.
This ultimately implies that, the legal entity or real estate agent (trustee or licensee) would, d be held responsible for the losses, legal claims and damages incurred by the owner of the property (beneficiary), whether or not the agent's actions were authorized or unauthorized by the principal.
Hence, a trustee is liable for acts or contracts entered into by an agent when he or she gives an agent either actual authority (power of attorney) or apparent authority.
(100 POINTS)How much money will i make my first week from dropshipping
How many trade schools are there for Avionics Technicians?
Answer:
Hi...
Explanation:
The theory of _____ in which countries specialize in goods that have a lower opportunity cost, is citied by supporters of free trade
Answer:
comparative advantage
Related Party Risk: Evaluate the related party situation for Kathmandu by analysing the information disclosed by the client. You should also conduct a reasonable search for potentially related parties that may not have been disclosed (incompleteness) by the client. Come to an evaluation of the situations in conformance with both Accounting Standards (NZ IAS) and expectations of Auditing Standards (ISA NZ), and make a recommendation to the engagement partner with respect to the Related Party Risk issue.
To evaluate related party risk for Kathmandu, analyze disclosed information and search for undisclosed related parties. Make recommendations in accordance with Accounting and Auditing Standards.
Evaluating related party risk for Kathmandu involves analyzing the disclosed information and conducting a reasonable search for undisclosed related parties. This evaluation should be done in accordance with Accounting Standards (NZ IAS) and expectations of Auditing Standards (ISA NZ).
Review the financial statements and accompanying notes for explicit disclosures of related party transactions. Analyze contracts, agreements, and other relevant documents to identify potential undisclosed related parties.
Assess the nature, extent, and financial implications of the related party transactions to determine if they have been appropriately accounted for and disclosed. Based on the evaluation, make recommendations to the engagement partner, which may include suggesting additional procedures or adjustments to address the related party risk issue.
To know more about Auditing visit.
https://brainly.com/question/29575176
#SPJ11
What are the five Ws of a good press release?
Major Questions the release should answer
Types of Audiences for the release
Categories of the Media the release should cover
Five paragraph structure of the release
The main five Ws of a good press release which most journalists know that the basic format of a press release includes:
Whowhenwhatwherewhy information Why is five Ws of a good press release important?Investigative journalists, detectives, and researchers use the 5Ws and 1H technique as a straightforward technique to gather a comprehensive and accurate story. This method's premise is that if you can figure out the responses to these six questions, you should have a complete account of what happened. What, Why, When, Where, Who, and How are the six questions listed above.
The 5Ws and 1H framework is a remarkably straightforward but seriously powerful approach to data collection. The list is simple to remember and can be used as a guide for journalists and other researchers whenever they are frantically gathering data.
Read more about press release
brainly.com/question/5048717
#SPJ1
Explanation:
The main five Ws of a good press release which most journalists know that the basic format of a press release includes:
Who
when
what
where
why information
Why is five Ws of a good press release important?
Investigative journalists, detectives, and researchers use the 5Ws and 1H technique as a straightforward technique to gather a comprehensive and accurate story. This method's premise is that if you can figure out the responses to these six questions, you should have a complete account of what happened. What, Why, When, Where, Who, and How are the six questions listed above.
The 5Ws and 1H framework is a remarkably straightforward but seriously powerful approach to data collection. The list is simple to remember and can be used as a guide for journalists and other researchers whenever they are frantically gathering data.
Which of the following will only be executed if the order's price conditions are met?A tradeA limit orderAn unlimited orderA spread
The following will only be executed if the order's price conditions are met A trade, option A.
Barter was an early form of trade in which goods and services were exchanged directly for other goods and services, without the use of money. Modern traders typically negotiate using a medium of exchange, like money. Consequently, buying and earning can be separated. The creation of money, as well as the letter of credit, non-physical money, paper money, and other forms of money, greatly facilitated trade. Bilateral trade involves two or more traders, whereas multilateral trade involves more than two or two traders.
The predominant form of economic activity in which individuals and groups concentrate on a small aspect of production but use their output in trades for other products and needs is known as specialization and the division of labor. Trade exists between regions because different regions may have a comparative advantage (perceived or real) in the production of some trade-able commodity, such as the production of natural resources that are scarce or limited elsewhere. According to one modern perspective, trade exists because of specialization and the division of labor.
Learn more about Trade:
https://brainly.com/question/30417899
#SPJ4
During which process in the water cycle does water release thermal energy ?
During the process of evaporation in the water cycle, water releases thermal energy.
Evaporation occurs when the sun's heat causes the surface of water bodies, such as oceans, lakes, and rivers, to turn into water vapor. This process requires the absorption of heat, which causes the water molecules to gain enough energy to break their bonds and move into the air as a gas.
This release of heat energy, or thermal energy, from the water molecules is what causes evaporation to occur. As the water vapor in the air rises and cools, it eventually condenses to form clouds, and the thermal energy is once again absorbed.
To learn more about Thermal energy,
https://brainly.com/question/13258302
https://brainly.com/question/24252453
Too little of a good or service is produced when there is a?
The term "scarcity" is used to describe the situation in which there are limited resources available to produce goods and services, which results in too little of a good or service being produced.
Scarcity is the foundation of economics, as it necessitates making choices about how to allocate resources to meet the demands of society. Scarcity occurs when there are limited resources to produce a certain good or service, or when resources are insufficient to satisfy the demands of society. Scarcity is caused by several factors, including a lack of natural resources, population growth, and technological advancement.
As a result, the production of goods and services is limited, and societies must choose how to allocate their limited resources. Scarcity affects the production of goods and services because it necessitates the allocation of limited resources. Since there are limited resources available to produce goods and services, producers must decide how to allocate these resources effectively.
As a result, goods and services that are in high demand may be prioritized over those that are not in high demand. Furthermore, scarcity causes prices to increase as the demand for goods and services rises while the supply of resources remains limited. This, in turn, impacts the purchasing power of consumers, which may influence their decisions regarding what goods and services to purchase.
Know more about Scarcity here:
https://brainly.com/question/26856258
#SPJ8
Information ads help supply _?_that help you learn about and compare products and services.
a. suggestions
C. ideas
b. thoughts
d. facts
Please select the best answer from the choices provided
A
B
С
D
Answer:
a is your answer
Explanation:
“The needs of a society conflict with the goals of the financial services industry’s desire to make a profit.” Do you agree or disagree?
Answer:
I do not agree that "the needs of a society conflict with the goals of the financial services industry's desire to make a profit", but on the contrary, I consider that the economic objectives of the financial system contribute to the well-being of the individuals that make up society, with which they satisfy the needs of this in an indirect way.
I believe this because the financial system, through its will to profit, creates jobs and economic opportunities for individuals, who would otherwise be forced to meet their needs without the help of a system designed to profit as a result of work done (such as communism).
this form will be sent to Lily by the end of January. She will use this form to...
Answer:
\(\large\colorbox{white}{File her income taxes}\)
Explanation:
\(\large\colorbox{orange}{ɪ ʜᴏᴘᴇ ɪᴛ ʜᴇʟᴘs}\)
\(\large\colorbox{lime}{Xxᴊᴀsʜ13xX}\)
The profit remaining after subtracting the cost of bringing the goods into the store and the operating expenses from the sale of the goods.
The profit remaining after subtracting the cost of bringing the goods into the store and the operating expenses from the sale of the goods is known as "net profit." Net profit is an important financial metric for businesses, as it indicates the company's overall financial health and profitability.
To calculate net profit, one must consider various costs and expenses incurred in the business operation. Firstly, the cost of bringing goods into the store, also called the cost of goods sold (COGS), should be considered. This includes expenses like purchasing the products, shipping, and storage.
Secondly, operating expenses need to be taken into account. These include expenses associated with running the business, such as rent, utilities, salaries, and marketing efforts. Once you have the total costs and expenses, subtract them from the total sales revenue generated by selling the goods.Net profit = Sales revenue - (Cost of goods sold + Operating expenses)Understanding net profit is essential for businesses to make informed decisions about pricing, investments, and expansion.
By maximizing net profit, companies can increase their financial stability, reinvest in the business, and provide a return on investment for stakeholders. However, it's crucial to maintain a balance between cost reduction and maintaining product quality, as focusing solely on increasing net profit can lead to decreased customer satisfaction and long-term negative impacts on the business.
Learn more about financial here
https://brainly.com/question/989344
#SPJ11
Explain why workers must understand and comply with employment conditions
Answer:
If they did not do so, they would be left without a job,t hen left without a means of supporting themselves, and supposedly their family
How would you go
about collecting all of the
needed information to
complete a task for a client
To collect all of the needed information to complete a task for a client, it is important to follow a systematic approach. This approach would require a long full answer that includes the following steps:
1. Understand the Client's Requirements: The first step is to have a clear understanding of what the client wants. This can be achieved by setting up a meeting with the client to discuss their requirements in detail. During this meeting, it is essential to ask open-ended questions to get as much information as possible.
2. Identify the Scope of Work: Once you have understood the client's requirements, it is essential to identify the scope of work. This involves breaking down the task into smaller components to understand what needs to be done. This will help you create a project plan that outlines the timeline, budget, and resources required to complete the task.
3. Research: Research is an important aspect of collecting information. You need to research the industry, market, competition, and any other relevant information that will help you complete the task efficiently.
4. Use Tools and Resources: There are many tools and resources available that can help you collect information. This includes conducting surveys, using questionnaires, conducting interviews, and using online research tools. These tools can help you gather valuable insights that will help you complete the task.
5. Collaborate with Other Team Members: In some cases, you may need to collaborate with other team members to collect information. This could involve working with a project manager, designer, or subject matter expert to gather the necessary information.
6. Document the Information: Once you have collected the necessary information, it is essential to document it. This includes creating a summary report that outlines the key findings, recommendations, and action items required to complete the task.
7. Communicate with the Client: Finally, it is important to communicate the findings with the client. This includes presenting the summary report and answering any questions they may have. This will help ensure that everyone is on the same page and that the task is completed efficiently.
In conclusion, collecting information to complete a task for a client requires a systematic approach. This approach involves understanding the client's requirements, identifying the scope of work, conducting research, using tools and resources, collaborating with team members, documenting the information, and communicating with the client. By following these steps, you can ensure that you collect all of the necessary information to complete the task efficiently.
To know more about the Systematic Approach visit:
https://brainly.com/question/12840236
#SPJ11
Five years ago Thompson, an investor, ran across a board game that he enjoyed and believed the game would become very popular. He purchased 1,000 shares of the corporation that publishes the game. Unfortunately, the game was too complex for most casual game players and sales never amounted to much. Over the five years, the stock of the publisher has remained steady, but has not increased in value. This is an example of
This is an example of Business risk.
Business risk is the business a company Invested their money into which later reduce their profit or become unsuccessful.
A company or organization that enter into business in which they are unable to gain that financial target they aim for after investing their money into the business is known as business risk.
Any Business a person, company or organization choose to enter into is a risk as you cannot actually predict what the outcome will be as to whether it will lead to financial gain or loss until you start the business.
Inconclusion This is an example of Business risk
Learn more about Business risk here:
https://brainly.com/question/17893150
Answer:
Business Risk! Believe it!
Explanation:
What are the 4 common financial statements?
The four common financial statements are the Balance Sheet, Income Statement, Cash Flow Statement, and Statement of Changes in Equity.
The 4 common financial statements are: The Balance Sheet: This statement shows a company's assets, liabilities, and equity at a specific point in time. It is used to assess the financial health of a company. The Income Statement: This statement shows a company's revenues and expenses over a specific period of time. It is used to determine a company's profitability.
The Cash Flow Statement: This statement shows a company's inflows and outflows of cash over a specific period of time. It is used to assess a company's liquidity and ability to meet its financial obligations. The Statement of Changes in Equity: This statement shows the changes in a company's equity over a specific period of time. It is used to assess how a company's equity is affected by its profits or losses.
Learn more about "financial statements" here:
https://brainly.com/question/14951563
#SPJ11
Jolene's office cubicle is next to a colleague who has a provocative calendar hanging on the wall and can be frequently overheard telling vulgar jokes. The colleague's behavior is an example ofMultiple Choicea) reverse discrimination harassment.b) hostile work environment sexual harassment.c) the glass ceiling effect.d) low gender egalitarianism.e) quid pro quo sexual harassment.
The colleague's behavior is an example of: hostile work environment sexual harassment. The correct option is B.
Hostile work environment sexual harassment occurs when an individual is subjected to unwelcome sexual conduct or comments that create an offensive or intimidating work environment. This can include explicit sexual images, vulgar jokes, or other behavior that makes an employee uncomfortable or interferes with their ability to do their job.
In this case, the colleague's provocative calendar and vulgar jokes are creating a hostile work environment for Jolene, which can lead to decreased job satisfaction, increased stress, and even physical and mental health problems.
It's important for employers to have clear policies and procedures in place for addressing and preventing sexual harassment in the workplace, and for employees to speak up and report any inappropriate behavior they experience or witness.
To know more about hostile work environment, refer here:
https://brainly.com/question/31184554#
#SPJ11
In Latuna, it takes 10 resources to produce 1 ton of coffee and 13.5 resources to produce 1 ton of wheat. In South Narnia, it takes 40 resources to produce 1 ton of coffee and 12 resources to produce 1 ton of wheat. Latuna has a comparative advantage over South Narnia in:__________.
A. wheat
B. neither coffee nor wheat.
C. both coffee and wheat.
D. coffee
E. both coffee and wheat if combined.
Answer:
A
Explanation:
a person has comparative advantage in production if he / she produces at a lower opportunity cost when compared to other countries.
for latuna,
opportunity cost of producing 1 ton of coffee = 13.5 / 10 = 1.35
opportunity cost of producing 1 ton of wheat = 10 / 13.5 = 0.741
for South Narnia,
opportunity cost of producing 1 ton of coffee = 12 / 40 =0.3
opportunity cost of producing 1 ton of wheat = 3.3
south narnia has a comparative advantage in the production of coffee and latuna has a comparative advantage in the production of wheat
What are the six basic step of the problem solving process? HURRY I NEED THIS QUICK
WILL GIVE BRAINLIEST
Answer:
1) identify your problem: Try to describe the problem as much as possible, as opposed to focusing on the potential consequences or implications of the problem.
2) Pin point the problem
3) so that means you should do research based on the problem ^
4)Try evaluating the problem.. perhaps looking at it in perspective ^
5)see how the problem could affect you or others
6) Then work out a plan to solve the problem
Answer:
1) Identify the root problem
2) Identify the factors and causes
3) Generate alternative solutions
4) Decide on the best solution
5) Implement solution
6) Evaluate the results
Explanation:
Lymen International is considering a significant expansion to its product line. The sales force is excited about the opportunities that the new products will bring. The new products are a significant step up in quality above the company’s current offerings, but offer a complementary fit to its existing product line. Fred Riddick, senior production department manager, is very excited about the high-tech new equipment that will have to be acquired to produce the new products. Barbara Dyson, the company’s CFO, has provided the following projections based on results with and without the new products.
Without New Products
With New Products
Sales revenue $12,149,200 $16,618,200
Net income $488,900 $885,800
Average total assets $5,282,800 $13,930,400
(a) Compute the company’s return on assets, profit margin, and asset turnover, both with and without the new product line. (Round answers to 0 decimal places, e.g. 2% and asset turnover to 1 decimal place, e.g. 6.2)
Without new products
With new products
Return on assets
International sidering offerings, xut offer compl step up with New Products Sales 2,145.20 Average tel Without new products with now products ej abou: red Riddick, bring. Th producti depart
%
%
Profit margin
%
%
Asset turnover
Answer:
I don't know sorryyyyyjdkd
The computation of the Lymen International Company's return on assets, profit margin, and assets turnover, both with and without the new product line, is as follows:
a) Return on assets = Net Income/Average total assets
Without New Products With New Products
Net income $488,900 $885,800
Average total assets $5,282,800 $13,930,400
= 9% 6%
b) Profit margin = Net Income/ Sales revenue
Without New Products With New Products
Sales revenue $12,149,200 $16,618,200
Net income $488,900 $885,800
= 4% 5%
c) Asset Turnover = Net Sales / Average Total Assets
Without New Products With New Products
Sales revenue $12,149,200 $16,618,200
Average total assets $5,282,800 $13,930,400
= 2.3 x 1.2 x
How useful are accounting ratios?The accounting ratios above help investors understand the efficiency, profitability, and effectiveness that companies achieve when compared with previous years or with competitors.
For instance, the assets turnover ratio helps investors understand Lymen International Company's effectiveness in using its assets to generate sales.
Data and Calculations:Without New Products With New Products
Sales revenue $12,149,200 $16,618,200
Net income $488,900 $885,800
Average total assets $5,282,800 $13,930,400
Total assets = $10,565,600 $2,786,0800
Learn more about financial ratios at https://brainly.com/question/9091091
what does it mean in auto leasing and auto financing when you are said to be upside down?
In the context of auto leasing and financing, being upside down refers to a situation where the value of the car you own is less than the amount you owe on it. This can happen when you take out a loan or lease for a car and the car depreciates in value faster than you are paying it off.
When you are upside down, it can be difficult to sell the car or trade it in for a new one without taking on additional debt. This is because the amount you owe on the car is greater than what you can get for it in a sale or trade-in. This can also affect your ability to refinance or negotiate better loan terms, as lenders are hesitant to loan you more money than the car is worth.
In terms of financing, being upside down can also mean that you are paying more in interest over time than the car is worth, which can lead to financial stress and difficulty making payments.
Leasing can also lead to being upside down, as you are essentially renting the car and not building equity. This can be especially problematic if you decide to end the lease early, as you may owe additional fees and penalties for terminating the lease before its agreed-upon end date.
Overall, being upside down in auto leasing or financing can be a challenging situation that requires careful financial planning and management to overcome.
To know more about leasing, visit https://brainly.com/question/3196529
#SPJ11
Cost of goods sold is used in the _____ of the days' payable outstanding formula because payables relate to the purchase of goods recorded at cost.
The cost of goods sold is used in the denominator of the days' payable outstanding formula because payables relate to the purchase of goods recorded at cost.
What is the Days' Payable Outstanding Formula?The Days' Payable Outstanding Formula is given by Accounts Payable X Number of Days/Cost of Goods Sold (COGS).
The cost of goods sold is the value of beginning inventory plus purchases or production minus the ending inventory.
Thus, the cost of goods sold is used in the denominator of the days' payable outstanding formula because payables relate to the purchase of goods recorded at cost.
Learn more about the Days' Payable Outstanding at https://brainly.com/question/25687278
During the economic downturn, alejandro’s neighbor, a successful accountant, lost his job and had to sell his house. Alejandro decided that this neighbor "must have really messed up at his work. " this is an example of.
During the economic downturn, alejandro’s neighbor, a successful accountant, lost his job and had to sell his house. Alejandro decided that this neighbor "must have really messed up at his work. " this is an example of just world belief.
What is meant by just world belief?This refers to the idea that, generally speaking, everyone gets what they deserve, is treated fairly, and will be made up for any injustices they have faced.
The idea that if anything unpleasant happens to someone, they must have done something wrong to deserve it is a simple illustration of the just-world theory. For instance, if someone gets a rare illness, this implies that they must have committed a sin for which they are now paying the price.
Read more on economic downturn here: https://brainly.com/question/7201254
#SPJ1
On January 1, the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720.
Complete Question:
On January 1, the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720
Journalize the first interest payment and the amortization of the related bond discount using the Straight line method
Answer:
Kindly check Explanation
Explanation:
Given the following :
Face value of bond issued = $1,450,000
Cash received on Issuance = $1,408,720
Number of Interest payment on bond = 5 × 2 = 10(semiannual)
Therefore, discount on bond :
$(1,450,000 - 1,408,720) = $41,280
Spreading or amortizing diacou t on bond over the bond duration (use te straight line method)
Discount / period
$41,280 / 10 = $4,128
Interest expense a/c Dr $40,378
To discount on bond payable a/c Cr $4128
To cash a/c $36,250
Which of the following is NOT true about emergency funds?
a,They can keep you from borrowing money from friends and family.
b,They help remove the worry about expenses not in the budget.
c,They are used for anything listed on the budget.
d,They help you prepare for unexpected expenses.
Answer:
The answer is "They are used for anything listed on the budget."
The option that is NOT true about emergency funds is: c. They are used for anything listed on the budget.
What is emergency funds?Emergency funds are usually not used for things that are planned and included in the budget. Instead, emergency funds are money saved specifically for unexpected expenses that you didn't plan for in your usual budget.
The reason for having an emergency fund is to have money saved for unexpected things that might happen, like when someone gets hurt and needs to go to the hospital or when a car or home needs fixing. It can also help if someone loses their job or if something else happens that they didn't expect.
Read more about emergency funds here:
https://brainly.com/question/13420184
#SPJ6