On august 1, 2016, ace corp. purchased parts from supply corp. in payment for the $54,000 purchase, ace issued a 1-year installment note to be paid in equal monthly payments at the end of each month. the payments include interest at the rate of 12%.
1. what entry will ace make to record the august 1, 2016 purchase of the parts?
2. what entry will ace make to record the 1st installment payment on august 31, 2016? 3. how much interest expense will ace report in its income statement for the year ended 12/31/2016?

Lindon company is the exclusive distributor for an automotive product that sells for $30.00 per unit and has a cm ratio of 30%. the company’s fixed expenses are $162,000 per year. the company plans to sell 20,200 units this year. required: 1. what are the variable expenses per unit? (round your "per unit" answer to 2 decimal places.) 2. what is the break-even point in unit sales and in dollar sales? 3. what amount of unit sales and dollar sales is required to attain a target profit of $72,000 per year? 4. assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $3.00 per unit. what is the company’s new break-even point in unit sales and in dollar sales? what dollar sales is required to attain a target profit of $72,000?

Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.suppliesjan. 31 bal. 1,800 1,800 jan. 31 bal.supplies expensejan. 31 bal. 1,920 1,148 jan. 31 bal.prepaid insurancejan. 31 bal. 1,148 1,148 jan. 31 bal.insurance expensejan. 31 bal. 164 164 jan. 31 bal.wages payablejan. 31 bal. 1,400 1,400 jan. 31 bal.wages expensejan. 31 bal. 6,400 6,400 jan. 31 bal.truckjan. 31 bal. 17,376 17,376 jan. 31 bal.accumulated depreciation -truckjan. 31 bal. 5,068 5,068 jan. 31 bal.a. if the amount in supplies expense represents the january 31 adjustment for the supplies used in january, and $1,240 worth of supplies were purchased during january, what was the january 1 beginning balance of supplies? $answerb. the amount in the insurance expense account represents the adjustment made at january 31 for january insurance expense. if the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? amount of the premium $answerthe policy began on answerjune 1july 1august 1september 1october 1november 1 of the previous year.c. if we assume that no beginning balance existed in either in either wage payable or wage expense on january 1, how much cash was paid as wages during january? $answerd. if the truck has a useful life of four years (or 48 months), what is the monthly amount of depreciation expense, and how many months has bloomfield owned the truck? answermonths

Answer the following questions using the banker’s algorithm: a. illustrate that the system is in a safe state by demonstrating an order in which the processes may complete. b. if a request from process p1 arrives for (1, 1, 0, 0), can the request be granted immediately? c. if a request from process p