Explanation:
The whole principal plus any debt shall be paid by a single payment lender on the same day the lender expires. Instead of multiple instalments, individual interest loans concurrently calculate the full rate.
When should a single payment loan be considered?
If your loan amount of money is high, if you choose a single payment, you will pay a lower interest.
You might, for example, save $12,000 and try to spend $10,000 on shopping like a holiday or a bell. You don't want to deplete your savings because you have a single credit for payment. This can save more money in the future you will pay $10,000 for the loan without dropping the bank account.
Answer:
c. A debit to Salaries Payable and a credit to Cash.
Explanation:
As on December 31, entry to record the expense of Salaries which is accrued and not paid is
Salary A/c Dr.
To Salaries Payable
Now on the closing date, of previous year there is a liability outstanding of Salary Payable.
In the next year on 5th January the salary outstanding in opening balance sheet is paid.
For this, the payment will be made and accordingly, cash will be reduced.
Accordingly liability will be reduced for this, liability will be debited.
Therefore, correct option is
c. A debit to Salaries Payable and a credit to Cash.
Answer:
Percentage change in price = -5.33 * 0.00005
Explanation:
Percentage change in price = - modified duration * (Change in yield in BP/100)
Percentage change in price = -5.33 * ((0.01/2)/100)
Percentage change in price = -5.33 * (0.005/100)
Percentage change in price = -5.33 * 0.00005
Explanation:
The Journal entry is shown below:-
a. Salary Expense Dr, $2,550
To salaries payable $2,550
(Being accrual of salary is recorded)
b. Income summary Dr, $324,750
To Salary expense $324,750
($322,200 + $2,550)
(Being closing of salary expense is recorded)
Answer:
Explanation:
The detailed steps and calculation is as shown in the attached files.
