As a handy tip, we were told that in order to convert the lease factor of a certain amount or transaction to interest rate, we just have to multiply the value by 2, 400.
interest rate = (0.00065)(2400) = 1.56%
Thus, the answer for this item is 1.56%.
Answer:
A debit to Bonds Payable for $132,000
Explanation:
This is because The face value or face amount of a bond payable is the amount printed on the bond. We always record Bond Payable as the amount we have to pay back which is the face value or principal amount of the bond.
<span>Kate could not attend the last shareholders' meeting and thus she granted the authority to vote on her behalf to the managers of the firm. The term that applies to this granting of authority is <u>proxy.
</u><u />Proxy refers to the voting mechanism where a person who is not able to attend the voting grants her or his permission to the members of the decision-making process to make that decision in her stead. The other forms still include that person voting on his or her own, and not someone else instead of them.<u>
</u></span>
Answer:
Deferrals / Prepaid
Supplies Expense
Date Debit Credit Date
31-Dec $4,940
Balance $4,940
Office Supplies
Date Debit Credit Date
31-Dec $9,200 $4,940 31-Dec
Balance $4,260
