Answer:
-$144,000
Explanation:
Cash flow from financing activities
Payment to retire bonds payable -$361,500
Proceeds from borrowing at bank (note payable) $217,500
Net cash used by financing activities -$144,000
The payment made to retired bond payable reflects the outflow of cash so we deducted it and the borrowing at bank is a cash inflow so we added it
And, the rest items are not relevant. Hence, ignored it
Answer:
The total direct materials cost variance is $3,790 favorable
Explanation:
The computation of the total direct materials cost variance is shown below:
Total direct materials cost variance = Actual cost - standard cost
where,
Actual cost is $267,790
And, the standard cost = Actual finished units produced × Direct materials standard
= 22,000 × $12
= $264,000
Now put these values to the above formula
So, the value would equal to
= $267,790 - $264,000
= $3,790 favorable
Gary would be living in an apartment because it is a single housing unit in a large building. That is close to the denotation of apartment.
Answer:
Note = $5,000
Interest rate = 6%
Time period = 120 days
The journal entry is as follows:
On July 12,
Account receivable A/c Dr. $5,100
To Notes receivable $5,000
To Interest revenue $100
(To record note dishonor)
Workings:
Interest revenue = $5,000 × 0.06 × (120÷360)
= $100