Answer:
<u>liability</u>, <u>asset </u>
Explanation:
Liability refers to a future obligation in monetary form which must be discharged by a business. Liabilities are classified on the basis of due period into current and long term. For instance payment due to a supplier, loan for repayment.
Assets on the other hand refer to something which yields future economic benefits. Assets could be in tangible fixed form, movable form or intangibles such as Goodwill.
In the given case, from the purpose of bank, acceptance of deposits constitutes a liability since the bank has to pay such deposits whenever required by the customer.
Similarly, lendings by a bank represent an asset since the bank would receive such sum coupled with interest at a future date.
April 21st zodiac constellation is "Taurus".
Those belonging to "Taurus" zodiac are characterized by a stable and determined personality. They always set a goal for themselves and there is no limit to the effort they will exert to reach this goal. They usually desire stability and appreciate the beauty of nature.
I believe most consumed bird is a quail.
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Hope his helped:)
Capitalism, Communism, and Socialism
Answer:
Explanation:
The adjusting entry is shown below:
Cash Dividend A/c Dr $500,000
To Dividend payable $500,000
(Being dividend is declared)
The dividend amount is computed below:
= Number of shares held × cash dividend per share
= 100,000 shares × $5
= $500,000
As dividend is declared so we debited the cash dividend account and credited the dividend payable as it is a current liability
