Answer:
C. $6,000; Increase expenses, increase liabilities
Explanation:
The computation is shown below:
= Borrowed amount × rate of interest × given months ÷ Total months
= $400,000 × 6% × 3 months ÷ 12 months
= $6,000
So this $6,000 represent an increase in liabilities and increase in expenses
hence, the correct option is c.
Answer: decrease by $1,600
Explanation:
Charlotte withdraws $8,000 from her account. When she first paid in that $8,000, the bank had to keep some of it as a reserve requirement. That requirement was that they keep 20%.
Now that she is withdrawing the money, the bank would have to retrieve that 20% from the reserve requirement in order to give it back to Charlotte.
That 20% is:
= 20% * 8,000
= $1,600
Answer:
Step E -- Update the menu to include nutritional value of each smoothie.
In what order should you take these steps?
Step D -- Revamp company signage to attract customer interest.
Step A - Reformulate our smoothie recipes with all natural/organic ingredients.
Step B -- Partner with the Obesity Action Coalition and the American Diabetes Association.
Step C -- Learn more about the ingredients our company uses in smoothies and see how they affect diabetes and obesity.
Explanation:
Answer:
$34,000
Explanation:
To determine the year-end retained earnings balance we can use the following formula:
current retained earnings balance = last year's retained earnings balance + current net income - distributed dividends - adjustments (depreciation expense)
current retained earnings balance = $32,000 + $12,000 - $7,000 - $3,000
current retained earnings balance = $34,000