The amount of the adjusting entry on December 31 is: $3400.
<h3>Amount of adjusting entry</h3>
Using this formula
Amount of adjusting entry=Prepaid rent/ Number of months
Let plug in the formula
Amount of adjusting entry=$10,200/3 months
Amount of adjusting entry=$3,400
Therefore the amount of the adjusting entry on December 31 is: $3400.
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Answer:
a) Total Interest Paid in 24 months is $1680
b) Total Cost of the car is $12180
c) Monthly Payment is $420
d) Annual Percentage Rate is 10.47%
Explanation:
(a) Loan Amount = $8400
Interest Rate = 10%
Monthly Interest = 8400 x (10%/12)
= $70
Total Interest Paid in 24 months = 24 x 70
= $1680
(b) Total Cost of the car = Loan Amount + Interest Paid + Down payment
= 8400 + 1680 + 2100
= $12180
(c) Monthly Principal Payment = 8400/24
= $350
Monthly Payment = Monthly Interest Payment + Monthly Principal Payment
= 70 + 35
= $420
(d) Annual Percentage Rate = (1+ 0.10/12)12 - 1
= 0.1047
= 10.47%
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The action that appeared to be the least helpful if you’ve been the victim of identity theft is <u>ordering your latest credit report</u>.
This implies the correct answer is D.
If you’ve been a victim of identity theft, then it is incumbent on you to report or contact one of the credit reporting companies and officially place a fraud alert on your credit report.
<h2>Further Explanation</h2>
Identity theft is when an individual deliberately steals your information and make use of such information without your consent or permission. Identity theft has become a big business for fraudsters in the United States.
In 2016, 15.4 million Americans were a victim of theft. Also one of the tops complains of consumers to the Federal trade commission is Identity theft.
Identity theft can happen to an anyone regardless of how careful you are. However, there are major steps you can take if you are a victim of identity theft.
Some of the ways you can assist to stop an identity thief to further commit fraud using your details include
- Contact the credit report company and place a fraud alert
- Place a security block on your credit report
- Contact the banks and companies where the fraud was committed.
- Contact the IRS in case of Tax-related ID theft
- Clean up all your account
- Report any case regarding identity theft to the Federal trade commission (FTC)
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KEYWORDS:
- victim
- identity theft
- fraud
- companies
- account
- irs
Answer:
Pro forma financial statements
Explanation:
The term pro forma financial statements refers to a type of financial statement which estimates future financial results. It doesn't follow the GAAP, instead it is designed to focus on specific figures about a company's expected earnings. Although pro forma financials are only expected financial statements, it is still illegal to mislead investors using them.
By preparing a pro forma financial statement, Tomas will be able to estimate if his new business will be profitable or not, approximately how much financing he will need and estimate the future cash flows of his project.