Answer: Utilities Expense 540 Cash 540
Explanation:
Journal entry simply refers to the recording of transactions in a company's books. It should be noted that every transaction entered in the general ledger begins with a journal entry.
With regards to the question, the journal entry will be:
Debit Utilities expense $540
Credit Cash $540
Answer: 7.922%
Explanation:
Bank 1 lends at nominal rate of 8% and payments made is semiannually,
So,
Semiannual rate of bank 1 = 4%
Effective annual rate of Bank 1:
= 8.16%
If Bank 2 wants to maintain the same level of EAR at quarterly compounding:
Quarterly rate = 1.01980390271 - 1
= 1.980390%
Nominal annual rate for Bank 2 = Quarterly rate × 4
= 1.980390% × 4
= 7.9215% or 7.922%
Answer:
low-ball technique
Explanation:
Based on the scenario being described it seems that you have been a victim of the low-ball technique. This is a persuasion tactic in which an item is marked at a very tempting low price in order to get customers to commit to the purchase, but when they do commit the price is increased in one way or another. Which in this case was by requiring extra components to be able to use the camera.
Answer:
Land $80,900
Building $643,000
Explanation
Land
Demolition of old building $9,000
Sale of salvaged materials (1,100)
Legal fees (for title investigation of land) 3,000
Purchase price of land $70,000
Total $80,900
Building
Architect fees (for new building) 20,000
Building construction cost 600,000
Interest cost related to the construction 23,000
Total $643,000
