Current market conditions
Answer:
interest expense 3,000 debit
interest payable 3000 credit
Explanation:
We will recognize the accrued interest for the period Nov 1st to Dec 31th
principal x rate x time
120,000 x 11%/12 x 3 months = 3,000
We divide the rate by 12 as there is express as annual rate and we need to match with time, which is months.
The entry will recognize interest expense for 3,000
and interest payable for 3,000
The correct answer for the question that is being presented above is this one: "D. Most politicians do not care about helping the people become more prosperous."
Here are the following choices:
<span>A. Politicians will follow bad economic policies in order to attract votes.
B. Most politicians have a very poor understanding of the principles of economics.
C. Politicians do not care about what is good for their citizens.
D. Most politicians do not care about helping the people become more prosperous.</span>
Answer:
$42,000
Explanation:
Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.
Insurance expense of $210,000
Tax rate of 20%
( $210,000 × .20 )
=$42,000
Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000
