Maturity Value = Principal x ( 1 + Rate x Time )
Here is:
Principal = $90,000
Rate = 6% = .06
Time = 120 / 360
Maturity value = $90,000 x ( 1 + .06 x 120/360 ) =
= $90,000 x ( 1 + .02 ) =
= $90,000 x 1.02 = $91,800
Answer: c. $91,800
Post a picture or something because that doesn’t make any sense
Answer:
See the journal entry below
Explanation:
Retained earnings A/c Dr $500,000
Dividends payable A/c Cr $500,000
Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.
NB.
Amount = Share × Price per share
Given that;
Share = 100,000
Price per share = $5
Amount
= 100,000 × $5
= $500,000
Answer:
A. Restrict access
C. Establish responsibility
D. Document procedures
B. Independently verify
Explanation:
A. Restrict access, as the password is set to address the cash register, that is a security is being provided, and this is because, there is a restricted access, for the safety purpose.
C. Establish responsibility - As the treasurer is held liable of making and receiving any checks, and that he is the person who shall monitor such things, related to transactions in checks.
D. Document procedures - since a list is prepared for the checks received in mail, it is mere preparation of records and documentation of what checks are received and what not.
B. Independently verify - Bank Reconciliation Statement is prepared to verify the transactions and match the balance in books with that of the bank pass book.
