Answer:
Accrued Interest - $5,333.33
Explanation:
At the end of the year, due to the matching principle, expenses of the same period need to be matched with that period and 'expensed' in the same year.
In the scenario above there has been 4 months out of 9 used in the current year, hence as at December 31st. 4 months interest will be included in the current year and 5 months interest will be attributable to the following future.
4 months / 9 months * 6% * 200,000 = $5333.33
In consonance with the <em>accrual basis of accounting</em>, the amount of accrued interest that will be recorded with adjusting entries will be:
Dr Interest expense - 5,333.33
Cr Accrued Interest - 5,333.33
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The statement "<span>A profit-and-loss statement is a financial document that shows a company's income and expenses." is true</span>
Answer: $12,000
Explanation:
The question makes no sense in one area. The loss probability for $0 cannot be 90% because the other two are collectively 20%. I shall therefore assume that the loss probability for $0 is 80% so that they add up to 100%.
Expected claim cost = ∑[loss probability * (Loss - Deductible)]
= 0.9 * 0 + [0.15 * (10,000 - 10,000)] + [0.05 * (250,000 - 10,000)]
= $12,000
The answer is A, to become a bank teller she would only need a high school diploma. Hope this helps!
