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Olin [163]
2 years ago
13

On December 1, Milka Inc. borrows $500,000 from the bank. Interest of 6% is due in six months. On December 31, Milka recognizes

interest. As a result of this journal entry, Milka's balance sheet reports:
Business
1 answer:
Leokris [45]2 years ago
5 0

Milka's balance sheet reports: Interest payable for one month.

<h3>What is interest?</h3>

The fee you pay to borrow money or the fee you charge to lend money is called interest.

Some features of interest are-

  • The fee paid for the privilege of borrowing money is called interest, and it is often stated as an annual percentage rate (APR).
  • The compensation a lender or financial organization receives for giving out money is called interest.
  • The most common way to represent interest is as a yearly percentage of the loan amount.
  • The interest rate on the loan is known as this percentage.
  • For instance, if you put money in a savings account, a bank will provide you interest.

The three types of interest include -

  1. simple (regular) interest: The daily interest rate, the principle, and the number of days between payments are multiplied to determine simple interest.
  2. accrued interest: The amount of interest accrued on a loan or other financial obligation as of a certain date that has not yet been paid back.
  3. compounding interest: The interest you earn on interest is known as compound interest. Simple math may be used to demonstrate this: If you have $100 and it generates 5% interest annually, you will have $105 at the end of the first year. You'll have $110.25 after the second year is over.

To know more about the estimation of simple interest, here

brainly.com/question/2294792

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True or False &amp; Why? “Every time price goes up, demand goes up and every time price falls, demand falls too, and so on ad in
deff fn [24]

Answer: ▶False◀

Explanation:▶ realistically when prices fall, demand goes up. This is because everyone would buy something that cost less, than something that is expensive. Now when prices go up, demand usually goes down. This is because the consumer wouldn't want to buy something from ( ex:) retailer 1, who's products are too expensive. Than retailer 2, who's prices are very reasonable. People wouldn't want to demand something that has a price going up and up.

//Give thanks(and or Brainliest) if helpful (≧▽≦)//

8 0
2 years ago
Between January 2010 and January 2016, U.S. employment increased by 12.1 million workers, but the number of unemployed workers d
Blababa [14]

Answer:

False, the labor forced increased

Explanation:

labor force = total number of people actively working (employed) or searching for jobs (unemployed)

lets say L = the total labor force in 2010

by 2016, L had increased by 12.1 million and decreased by 7.3 million

net change of L = 12.1 - 7.3 = 4.8 more million people were part of the labor force in 2016 than in 2010.

5 0
3 years ago
When her salespeople bring in five new customers, marissa gives them a $1,000 payment. this is an example of a?
Shalnov [3]
Its an example of profit sharing
4 0
3 years ago
The process of determining the present value of future cash flows in order to know their worth today is referred to as:______.
RoseWind [281]

Calculating the present value of a cash flow or series of cash flows that will be received in the future is the process of discounting.

A value obtained in the future is converted to an equivalent value received right away through the process of discounting. Discounting determines this relative value, so a dollar received in 50 years may be worth less than a dollar received today. Using the aforementioned method, the discounting process assists an investor in estimating the investment's value in current dollars at the investor's desired rate of return. Due to the opportunity cost of spending money now and the desire to enjoy advantages now rather than in the future, discounting makes current costs and benefits more valuable than those that will occur in the future. A discount factor in financial modeling is a decimal number multiplied by a cash flow value to reduce it to its present value. As the effect of compounding the discount rate accumulates over time, the factor grows (i.e., the decimal value shrinks).

Know more about discounting:

brainly.com/question/15060398

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3 0
1 year ago
Discuss Two social factors (excluding friends and social interaction) that may contribute to unemployment in South Africa amongs
denpristay [2]

Answer:

Timidity and lack of self initiative drive

5 0
2 years ago
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