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vovangra [49]
2 years ago
11

record the adjusting entry for recording the interest due on a note payable liability. assume that the company has a $2400 note

payable outstanding on which they pay a 5% annual interest rate. record the adjustment for interest due for one month's worth of interest.
Business
1 answer:
almond37 [142]2 years ago
7 0

record the adjustment for interest due for one month's worth of interest

Interest=( 2400×5/100)×1/12

            = $10

In finance and economics, hobby is a price from a borrower or deposit-taking economic group to a lender or depositor of an amount above reimbursement of the major sum (that is, the quantity borrowed), at a specific price. It is awesome from a charge that the borrower may additionally pay the lender or some 1/3 party. It's also distinct from a dividend that is paid by a business enterprise to its shareholders (proprietors) from its earnings or reserve, however not at a specific fee decided in advance, rather on a seasoned-rata foundation as a percentage inside the praise gained by using threat-taking entrepreneurs while the revenue earned exceeds the overall expenses. For example, a consumer could normally pay interest to borrow from a financial institution, so they pay the financial institution an amount that is more than the amount they borrowed, or a customer can also earn hobby on their savings, and so they'll withdraw extra than they firstly deposited. In the case of savings, the patron is the lender, and the bank plays the position of the borrower.

Learn more about interest here

brainly.com/question/25793394

#SPJ1

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Pearson Motors has a target capital structure of 30% debt and 70% common equity, with no preferred stock. The yield to maturity
babunello [35]

Answer:

284%

Explanation:

You calculate it using the conversion method

8 0
4 years ago
Nazim also recently bought bonds that have their interest rate tied to the consumer price index (CPI) so that he will be protect
Umnica [9.8K]

Answer:

purchasing power bonds

Explanation:

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This type of bonds are similar to inflation-linked bonds which are adjusted to the value of the CPI.

The whole idea is that the bonds will always yield real interest rates.

3 0
3 years ago
If you can buy a pack of candy bars 5.99 or a 2 pack 3.49,what is the unit cost for a bar in each case?
tatyana61 [14]

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1.745 per unit

Explanation:

6 0
3 years ago
How is a mutual fund different from an index fund
Assoli18 [71]

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3 0
4 years ago
Items
astra-53 [7]

Answer: The answer is as follows:

Explanation:

M1 = Currency with public + Checkable deposits + Other deposits with RBI

M2 = M1 + Post office savings deposits

Currency held by the public and Checkable deposits are the components of M1.

Whereas savings deposits, Money market mutual funds held by individuals and Small time deposits are the components of M2.

We know that all the components of M1 are also the components M2.

∴ The items are included in the M2 money supply but not the M1 money supply are as follows:

Item 1 - Money market mutual funds held by individuals

Item 2- Savings deposits, including money market deposit accounts

Item 5 - Small time deposits

8 0
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