Answer:
Interest amount = $67.5
Explanation:
Use the below formula to find the interest amount:
Interest amount = The value of note x Interest rate x (90 / 360)
Given value of note = $2700
Interest rate = 10%
Time = 90/360
Now plug the value in the above formula and solve for the interest due:
Interest amount = The value of note x Interest rate x (90 / 360)
Interest amount = 2700 x 10% x (90 / 360)
Interest amount = $67.5
Answer:
True
Explanation:
The absorption basis of income, profits are always high when the production is greater than income because more fixed costs will have been deferred in closing inventory.
So, managers will focus more on increasing production which create huge balances of closing stocks and consequently results in large profits.
Answer and Explanation:
The adjusting entry made on Tuesday is as follows
Salaries expense Dr $120 ($300 × 2 days ÷ 5 days)
To Salaries payable $120
(Being the salaries expense is recorded)
here the salaries expense is debited as it increased the expenses and salaries payable is credited as it also increased the liabilities.
Answer:
An advisory board
Explanation:
An advisory board is an entity which provides non-binding strategic advice to a company, organization, or foundation management. The informal existence of an advisory board allows the board of directors greater flexibility in structure and management compared to that.
