Answer: A - Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.
Explanation: Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed when any of the below stated transactions occur in an account.
1. If the daily aggregate cash transactions of an individual exceeds $10,000
2. if 2 different transactions within a 12 months period seems related and their aggregate exceeds $10,000 must be reported.
3. Any suspicious customers action that suggest that they are laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud, or mysterious disappearances should be reported
Answer:
Interest Payable - 2021 = $6653.33 rounded off to 6653
Explanation:
The accrual principle in accounting requires the revenue and expenses for a period to be matched and recorded in their corresponding or respective periods. Thus, even though the interest on note will be paid at maturity in 2022, the interest expense related to the month of November 2021 and December 2021 will be recorded in the current year at 31 December as interest payable.
Interest Payable - 2021 = 499000 * 8% * 2/12
Interest Payable - 2021 = $6653.33 rounded off to 6653
C
A low GDP for two or more consecutive quarters is usually followed by economic contraction.
Answer:
Explanation: Dr Cr
1)
Allowance for doubtful account
3%*3610000 108300
Bad debt expense 108300
2)Allowance for doubtful account
2%*(1285070+3610000) 146,852.10
Bad debt expense 146,852.10
3)Allowance for doubtful account
1093830*6% 65,629.80
Bad debt expense 65,629.80
Answer:
E. They are problems and resources that most people have experience with or can relate to.
Explanation:
- Such problems and resources are most commonly found in day to day lives. People can easily relate to them as they are simple and common in the workplace.
- They are associated with the resources of particular problems. This making them a subject of practice it becomes easy to use them for teaching and other purposes. Such as enlightenment and giving advice.
