Answer:
The Journal entry are as follows:
(i) On May 31,
Miscellaneous Expense A/c Dr. $50
To cash A/c $50
(To record bank service charges)
(ii) On May 31,
Supplies A/c Dr. $18
To cash A/c $18
(To record difference in recording)
Workings:
Supplies = $97 - $79
= $18
It would be D
because it depends on how much the bidder values the item.
Answer: 73days
Explanation:
$1,307 interest on $45,000 at 4.0%
Time used in paying back the loan is calculated thus:
Principal is $45,000
Interest is 4.0%
Tenor is x
Using the Simple Interest formula
I= P x T x R/100
1,307 = 45,000 x T x 0.04/100
1,307= 1,800T/100
1,800T = 1,307 x 100
1,800T = 130,700
T = 130,700/1,800
= 72.6
= 73days
Answer:
TIE = 150,000 / 5,000 = 30
Explanation:
Times Interest Earned (TIE) = Earnings Before Interest and Tax (EBIT) / Interest Expense
TIE ratio shows the ability of a company to meet its interest payments on its debt (solvency), expressed in times.
In this case 3.33% of the operating profits goes towards servicing the debt or the operating income are 30 times the annual interest expense.
Answer:
the money owed then is 39000