Answer:
pay the bank an early withdrawal penalty.
Explanation:
Depending on the bank, now long was the original CD and the amount of money, the penalties may a include a certain percentage of the total amount, not earn any interest, or some other type of fee.
Banks do this to encourage depositors to leave the money the longest possible time in the bank. Sometimes banks will give their clients a small bonus interest for renewing CDs.
Answer:
May 20
No Entry
June 14
Dr. Dividends $255,000
Cr. Dividend Payable $255,000
July 14
Dr. Dividend Payable $255,000
Cr. Cash $255,000
July 31
Dr. Retained Earnings $255,000
Cr. Dividend $255,000
Explanation:
Dividend = $0.5 x 510,000 = $255,000
May 20
Dividend is declared, No entry is required
June 14
Dividend to be recorded on this date. As dividend is not paid yet so it will be recorded as payable and on the other hand dividend account is debited to make a contra capital account of dividend.
July 14
Dividend is paid as cash is paid so, it will be credited and the liability is reduced so, it will be debited.
July 31
At the end of the period we have to adjust the Dividend Contra capital account in retained earning to make the dividend account zero.
Its 283.00 this guy is wrong, do the math.
His total earnings would be the sum of the basic salary and the commissions he gets from the sales. For a sale amounting to $9650, $3,000 of it would have 1% commission and $6650 would have 2%. Calculating, Total earning = $120 + 0.01 x $3000 + 0.02 x $6650 = $283
Thus, Jim Tree will have a pay of $283.
Problem: Total of Leiff's online purchase
Given: $ 128 for video game
5.3% discount price of the video game
$4.75 shipping fee
15% promotion for more the $50 orders
Solution:
<span>Total = [(85% x 128 )+ (5.3% x 85% x 128) + 4.75]
</span>= 108.80 + 5.78 + 4.75
= <span>$119.32</span>
