Answer and Explanation:
The journal entries are shown below;
a. Interest receivable Dr ($12,000 × 7% × 30 days ÷ 360 days) $70
To Interest revenue $70
(Being the interest revenue is recorded)
For recording this we debited the interest receivable as it increased the asset and credited the interest revenue as it also increased the revenue
b. Cash Dr $12,105
To interest receivable $70
To interest revenue ($12,000 × 7% × 15 days ÷ 360 days) $35
To Note receivable $12,000
(being cash received is recorded)
For recording this we debited the cash as it increased the assets and credited the interest receivable, interest revenue and note receivable as it decreased the asset and increased the revenue
Answer: B. Opening balance for an inventory item was entered during the setup process.
D. Opening balances were included when importing customers using the Import data tool.
E. The client forced a bank reconciliation when the difference was not zero.
Explanation:
The reasons that can be attributed to the large amount in the Opening Balance Equity account will be:
• Opening balance for an inventory item was entered during the setup process.
• Opening balances were included when importing customers using the Import data tool.
• The client forced a bank reconciliation when the difference was not zero.
Answer:
Since 1980s, the proportion of the income of the top 5% of the richest Americans has risen and the proportion of income of the lowest fifth or the poorest Americans has fallen.
Explanation:
According to the source, the U.S. Census Bureau, the Aggregate Income received by each fifth and top 5% of households was tabulated and it was found that the proportion of the income of the top 5% of the richest Americans has risen, whereas the proportion of income of the lowest fifth or the poorest Americans has fallen, since the 1980s.
Answer:
House, bonds, savings account, cash
Explanation:
Liquidity of financial assets refers to how easy it is to exchange the assets for goods and services.
Cash is the most easy to exchange for goods and services.
Savings account has to first be withdrawn and changed to cash before it can be used as a medium of exchange.
Bonds are more difficult to use as a medium of exchange. It's more difficult to convert to currency.
A house is the least liquid because the period taken to sell a house and exchange it for money is usually long.
I hope my answer helps you
the answer is B.
Why
When you are taking from someone else's words you need to put the sentence/paragraph in (parenthesis). Or it will be considered plagiarism, and also cite your work that you have in the parentheses.