Answer:
c. debit to Interest Expense of $1,000.
Explanation:
The adjusting entry is as follows:
Interest expense Dr ($50,000 × 6% × 4 months ÷ 12 months) $1,000
To Interest payable $1,000
(Being the interest expense is recorded)
Here interest expense is debited as it increased the expense and credited the interest payable as it also increased the liabilities
Therefore the correct option is c.
Answer:
What is a minimum balance?
D. The smallest amount of money you can keep in a bank account
Explanation:
For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest
Answer:
Because the United States interest moved up and Indian Rupees depends mostly on the capital from the United States of America.
Explanation:
So, about the Indian rupees there are things we must note; (1). The inflation on Indian Rupees is high, (2). The problem of deficit account by the Rupee.
The two problems mentioned above are the problems that made Indian Rupees to rest or relent mostly on the United States of America Fed's cash flow. So, when U.S. Fed announced that it would begin to wind down its economic stimulus program the value of Indian Rupees DECREASES.
Answer:
PV=454.54
Explanation:
This problem can be solved applying the concept of future value, the 500 represents money in the future an the 10% is how that money is valued over time
where FV is future value, PV is the present value, i is the periodic interest rate and n is the number of periods. So applying to this particular problem we have:
solving for PV we have:
PV=454.54
Answer:
December 31, 2015
DR Retained Earnings $40,000
CR Common Stock Dividend Distributable $40,000
<em>(To record declaration of stock dividend)</em>
Working
Common Stock Dividend Distributable
= No. of shares * Par value * % stock dividend
= 100,000 * 2 * 20%
= $40,000
