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Rudik [331]
3 years ago
14

On November 1, 2018, Master's Co. borrows $500,000 from its bank for five years at an annual interest rate of 10%. According to

the terms of the loan, the principal amount will not be due for five years. Interest accrues monthly on the first day of each month, beginning November 1, 2018. With respect to this borrowing, Master's December 31, 2018, balance sheet included only a long-term note payable of $500,000. As a result:_______
a. Liabilities are understated by $12,500 accrued interest payable

b. Liabilities are understated by $4,167 accrued interest payable

c. The December 31, 2018, financial statements are accurately presented

d. Liabilities are understated by $8,333 accrued interest payable
Business
1 answer:
romanna [79]3 years ago
7 0

Answer:

b. Liabilities are understated by $4,167 accrued interest payable

Explanation:

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8) How can using a credit card affect your credit score in a good way? In a bad way?
gregori [183]

Answer:

Explanation:

Good way: using your credit card and paying off the balance each month and on time can increase your credit score. Also, having a large credit limit affects the credit positively

Bad way: paying your balances late or not at all is bad for your credit.

5 0
3 years ago
Jennifer's income is too high to qualify for the credit on Form 8880, Credit for Qualified Retirement Savings Contributions.A. T
a_sh-v [17]

Answer:

given statement is true

Explanation:

solution

the given statement is true because  

by encouraging, people of the lower income is contributing to their retirement savings account.  

and IRS offers a tax credit for contributions to them for claim the retirement savings credit

so  Jennifer must use IRS form 8880

and credit percentage decreases as the as AGI increases

so we can say given statement is true

3 0
3 years ago
Which of the following is true of water budgets?
zysi [14]

Answer:

B. In the winter, when water use is low, precipitation exceeds evapotranspiration

Explanation:

A water budget can be seen as the relationship between the inflow and outflow of water through a specified region.  It gives a general Idea of the relationship between the demand and supply of water in that region.

Evapotransipration is the loss of water from the soil through evaporation from the soil and other surfaces and by transpiration from plants, while precipitation refers to  rain, snow, sleet, or hail that falls to the ground.

During winters due to the cold temperatures, the rate of water loss from the soil and from plants is much lower than the amount of precipitation which is on form of snow.

Snow covers most of the soil, freezing the soil water at the surface of the soil, making it difficult for evapotranspiration to occur. In addition to that, most deciduous trees shed their leaves during this period further reducing the total amount of transpiration in that region.

This makes option B correct

3 0
3 years ago
When dealing with a loan, who benefits from compounding interest more frequently, and why?
stepladder [879]

A) The lender benefits, because the interest compounded increases further interest calculations.

6 0
3 years ago
Which form ownership burdens owners with greatest risk of loss of their personal assets?
Vitek1552 [10]

Howdy y'all!!

the answer is

general partnership

thank you

best regards

         OFFICIALLYSAVAGE2003

4 0
3 years ago
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