Answer:
Salaries payable will be debited for $500
Salaries expense would be debited for $3,500
Cash would be credited for $4,000
Explanation:
Based on the information given the Required journal entry for Jan 3rd will be:
Dr Salaries Payable $500
Dr Salaries expense $3,500
($4,000-$500)
Cr Cash $4,000
Answer: double-dividend hypothesis
Explanation: The double dividend hypothesis is the theory that proposes that environmental taxes can improve the environment by reducing pollution and increase economic efficiency at the same time. This is because the use of environmental tax revenues can be channeled into reducing other taxes such as income taxes that deform labor supply and saving decisions. In other words, If the parties that are generating these negative benefits to others would be taxed heavily for these effects, they would have an incentive to reduce production of whatever is causing the negative externality.
A). a credit union. The bank would be a big organization and is a commercial bank, sure it offers a variety of services, but so do credit unions.
The answer is c for this question
Answer: The amount applied to the principal balance is <u>$1174.43</u>.
We first calculate the Equated Monthly Instalment (EMI) of the loan by using the following formula:
![\mathbf{PV = EMI * \left [\frac{1-(1+r)^{-n}}{r} \right]}](https://tex.z-dn.net/?f=%5Cmathbf%7BPV%20%3D%20EMI%20%2A%20%5Cleft%20%5B%5Cfrac%7B1-%281%2Br%29%5E%7B-n%7D%7D%7Br%7D%20%5Cright%5D%7D)
where
r = Interest rate per period ; n = number of periods
Substituting these in the formula above we get,
![\mathbf{295000 = EMI * \left [\frac{1-(1+\frac{0.0425}{12})^{-180}}{\frac{0.0425}{12}}\right]}](https://tex.z-dn.net/?f=%5Cmathbf%7B295000%20%3D%20EMI%20%2A%20%5Cleft%20%5B%5Cfrac%7B1-%281%2B%5Cfrac%7B0.0425%7D%7B12%7D%29%5E%7B-180%7D%7D%7B%5Cfrac%7B0.0425%7D%7B12%7D%7D%5Cright%5D%7D)
Solving we get,
Once we get the EMI, we calculate the amount that applies to the principal balance as follows:
Interest is calculated on the outstanding balance of each month. In the first month, the entire principal in outstanding. Hence we calculate interest on $295,000.
