Answer:The average daily balance is a common accounting method that calculates interest charges by considering the balance invested or owed at the end of each day of the billing period, rather than the balance invested or owed at the end of the week, month or year.
Evidence is usually more persuasive for balance sheet accounts when it is obtained as close to the balance sheet date as possible.
<h3>
What is a balance sheet?</h3>
An organization's assets, liabilities, and shareholder equity are displayed on a balance sheet, which is a financial statement. Balance sheets serve as the basis for determining investor return rates and evaluating a company's financial structure.
The balance sheet is a financial statement that provides a brief summary of a company's assets, liabilities, and shareholder investment. Balance sheets can be used in conjunction with other important financial data when doing basic analysis or generating financial ratios.
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. The assets on the balance sheet are equal to the total of the liabilities plus the shareholders' equity. Financial ratios are computed using balance sheets by fundamental analysts.
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Answer: True
Explanation: A resident alien normally shares similar rules for filing revenue, property and gift tax recoveries and payment of calculated tax whether the person is in the United States or abroad. The resident alien can make use of similar forms and mailing particulars of where he or she lives as the citizens of the United States and also be able to claim similar deductions permitted to citizens of the United States for the whole tax year. However, special regulations apply to the taxation of foreign individuals studying in a university and specialists in a particular branch of study.
The borrower pays the proper amount due to the seller Cash 3270
<h3>Briefing:-</h3>
1. Interest income of $3000 X (0.18) = 540
2. $540 over six or twelve months equals 270.
3. Journal Entry 3,000 Notes Receivable Interest Revenue 270 Cash 3270
<h3>Interest income is it income?</h3>
Interest income is the profit made from lending money to other organizations. The phrase is typically used in the income statement of the company to describe the interest received on cash held in savings accounts, certificates of deposits, or other investments.
<h3>What do journal entries entail?</h3>
A firm keeps a journal, which is a succinct record of all transactions; journal entries describe how transactions influence accounts and balances.
The information in journal entries serves as the foundation for all financial reporting, and there are several versions to suit different corporate requirements.
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Answer:
Consider the following explanation
Explanation:
Please note that if cash requirements are combined, mean requirement of combined entity can be simply summed up, but same is not true for standard deviation as it is not additive.
So first we need to calculate the variance by taking square of SD, then we sum it for all the location to get variance of combined entity and then we take square root again to get the SD of combined entity.
Keep in mind that we can take a simple summation of variance due to the fact that requirement in different locations are independent of each other and their correlation coefficient is = 0.
Solution is given through following image sheet -
