Answer:
$3,003
Explanation:
Interest expense = Effective interest for first interest period × Period of time covered by adjusting entry.
Therefore:
Interest expense = $9,009 × 2/6 = $3,003
The adjusting entry will record interest for the two-month period conservatively which includes January and February, Year 1 in which It will include a debit to Interest Expense in the amount of $3,003.
Hence,
Dr Interest Expenses $3,003
The amount of interest expense that should be accrued by Maverick in an adjusting entry dated February 28, Year 1 is
$3,003
Answer:
Indonesia’s real GDP growth picked up to 5.2 percent year-on-year in the fourth quarter of 2017 from 5.1 percent in the previous quarter. For 2017, the country’s GDP growth rose to 5.1 percent from 5.0 percent in 2016, its highest growth rate in four years.
Answer: She should pay down both her student loan and the credit card debt
Explanation:
From the question, we are informed that Anastasia makes a good salary but wants to be sure she has good credit so she can buy a condominium when she has saved enough money for a down payment on a mortgage.
The best thing she can do to improve her creditworthiness is for her pay down both her student loan and the credit card debt. This would help her to increase her creditworthiness.
The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.
To learn more about income statement here
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