A. overdraft fees would likely be the highest. you could buy something for $5 and go negative and banks would charge you way more than $5
Answer:
31-Aug-22
Dr Bank Account 60
Cr Interest Received for the month of Aug22 60
31-Aug-22
Dr Sundry Creditors 360
Cr Bank Account 360
31-Aug-22
Dr Bank Charges Dr 105
Cr Bank Account Cr 105
Explanation:
Preparation of the adjusting entries to be made by Sage Hill Inc. at August 31
31-Aug-22
Dr Bank Account 60
Cr Interest Received for the month of Aug22 60
(To record Interest earned)
31-Aug-22
Dr Sundry Creditors 360
Cr Bank Account 360
($400-40)
(To correct error in recording check)
31-Aug-22
Dr Bank Charges Dr 105
Cr Bank Account Cr 105
($65+40)
(To record service charge and safety deposit box fee)
Answer:
Her rate of commission is 2 percent
Explanation:
Commission= $4800
Sale of property = $240,000
Rate of commission = (Commission/ Sale Of Property )* 100
Rate of commission= $ 4800/ $ 240,000 * 100
Rate of commission= 0.02 * 100
Rate of commission= 2%
The above solution can be checked by putting in the values of percent and commission
(Check)
2% of $ 240,000
= (2/100) * $ 240,000
= 2* $2400
= $ 4800
Thus 2 percent of $ 240,00 is equal to $ 4800
Answer:
Real GDP is inflation adjusted hence there will be no role of inflation. Real GDP per Capita = Real GDP/ Population
Real GDP in year 1 = Real GDP per capita * population
Real GDP in year 1 = $36,000 * 500 million
Real GDP in year 1 = $18 trillion
Growth rate of Real GDP = 7%
herefore Real GDP in year 2 = x - 18/18 = 7/100
Real GDP in year 2 => 100x - 1800 = 126
Real GDP in year 2 => 100x = 126 + 1800
Real GDP in year 2 => 100x = 1926
Real GDP in year 2 => x = 19.26 trillion
So, Real GDP per capita in year 2 = 19.26 trillion /500 million= 38,520
