Note amount: $6,000
Interest amount: 8%
Months left in the year: 5
To solve:
Multiply the note amount by the percentage and the amount of months left out of the year.
$6,000 x 8% x 5/12 = $200
Journal Entry:
Interest Receivable $200
Interest Revenue $200
Answer:
a. Short-term
b. Long-term
c. Long-term
d. Short-term
e. Long-term
Explanation:
a. A worker laid off because of bad weather is unemployed for the short term as he will be employed when the weather gets better.
b. A worker unemployed in an isolated area is likely to remain unemployed for the long term as there may not be many employment opportunities there. He needs to move somewhere else to find a job.
c. A stagecoach worker is most likely to remain unemployed for the long term as the industry he works in is shrinking. He is structurally unemployed. He needs to acquire new skills to get a job in another industry.
d. A short-order cook is unemployed for the short term, he is likely to find a job at another restaurant. He can also get a job at the newly opened restaurant.
e. An expert welder with little formal education is likely to be unemployed for the long term. He does not have adequate training and skills to match up with new technology. He needs to get additional training and skill to find a job.
Answer:
Habit Loop
Explanation:
Habit Loop -
It is a type of loop , which runs in the brain of the human being , and functions to govern the habit , is referred to as habit loop .
The habit loop has three components , i.e. , reward , routine , and cue .
The proper knowledge of these components enables the person to have command of their habits and can easily remove the bad habits and inculcate the good ones .
Hence , from the given scenario of the question,
The correct term is habit loop .
Answer:
They have a proven business model.
Explanation:
Did edge quiz
Answer:
Accrual basis accounting
Explanation:
Under Accrual basis of accounting, income is recognized when it is earned and not when actual cash is paid or received.
Under cash basis of accounting, income is only recognized when actual cash is received.
Accrual basis of accounting ensures transactions pertaining to a period are recorded in that period and it depicts more accurate financial picture unlike in cash accounting wherein income for a period might be overstated or understated.
Following cash basis of accounting is not in accord with both US GAAPs (generally accepted accounting principles) and IFRS.