Answer:
Date Account Title Debit Credit
Dec 11, 2018 Interest receivable $20,600
Interest revenue $20,600
Explanation:
The interest receivable on December 31, 2018 would be based on the lease amount at the end of the year which will be the present value of the lease less the lease amount paid for the year:
Lease amount = 240,000 - 34,000
= $206,000
Interest receivable = 206,000 * 10%
= $20,600
Answer:
d. are fiat money and gold coins are commodity money.
Explanation:
Fiat money is by definition the money whose value is imposed by the state (not real commodity in itself, just paper with state imposing its value) and is the international reference for trading, like the US dollar (or maybe euro or yen). Commodity money are actual commodities used as money, like gold (could be also silver)
Answer:
10.38%
Explanation:
From the question above a bank offers to lend an amount of $10,000 for a period of 1 year
The bank expects an interest of $250 to be paid every 4 months
= $250×4
= $1,000
Total amount of interest= $1,000
The first step is to calculate the nominal interest
= (1000/10,000)×100
= 0.1×100
= 10%
Therefore, the effective annual rate on the loan can be calculated as follows
= (1+r/m)^m-1
r = 10% , m = 4
= [1+(10/100)/4]^-1
=[ (1+0.1/4)^4]-1
= (1+0.025^4)-1
= (1.025^4)-1
= 1.1038-1
= 0.1038×100
= 10.38%
Hence the effective annual rate in the loan is 10.38%
I would say it would deal with one's humanity to man to decide who to rescue with only three seats to fill in other words, the best choice would be to rescue the elderly and/or women with babies or small children, or the sick to help those most in need.
Answer:
Option B
Explanation:
A bank makes profit when it gets more returns on the loan given as compared to the interest given on the deposited money.
Hence, option B is correct. In case A and C liability is greater than asset and hence this situation does not signify a profitable situation.
Also, option D is just the opposite of option B (profitable situation).
