Tamarisk, Inc. lends Pronghorn industries $52800 on August 1, 2022, accepting a 9-month, 9% interest note. If Tamarisk, Inc. prepares its financial statements as of December 31, 2022, what adjusting entry must it make
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Ответ:
Dr Cash 56,364
Cr Notes Receivable 52,800
Cr Interest Receivable 1,980
Cr Interest Revenue 1,584
Explanation:
Preparation for what entry must it make to record the collection of the note and interest at its maturity date
Dr Cash 56,364
($52,800+1,980+1,584)
Cr Notes Receivable 52,800
Cr Interest Receivable 1,980
Cr Interest Revenue 1,584
[52,800*9%*(3months/9 month)]
Ответ:
Explanation:
Labor Rate Variance = (Budgeted Rate-Actual Rate) * Direct manufacturing labor hours
= (15 - 15.25)* 500
= 125 Unfavorable