Answer:
Interest receivable $600
Explanation:
The interest is just for 9 months and the cash for the interest has not been received yet, so debit Interest Receivable.
Interest is calculated using the formula:
interest=Principal x rate x time
$16,000 x 5% x 9/12 = $600
Interest Revenue would be credited for $600, but that is reported on the Income Statement, not the Balance Sheet.
Answer:
Unearned Revenue $500
To Service Revenue $500
(Being the revenue earned is recorded)
Explanation:
The journal entry to record the revenue earned is shown below:
Unearned Revenue $500
To Service Revenue $500
(Being the revenue earned is recorded)
For recording this given transaction, we debited the unearned revenue and credited the service revenue so that the correct posting could be done
Plus, we ignored the advance received amount as it is not relevant
Actually I got mixed up, the answer i meant to write was B.
Answer:
Contributions to Roth IRAs aren't tax deductible, but withdrawals made at retirement aren't taxed.
Explanation:
Roth IRA refers to an individual retirement account that allows a tax-free growth and tax-free withdrawals in retirement. Roth IRAs are best when one's taxes would be higher at the point of retirement than present day.
The contributions made to the Roth account are are often made with after-tax money, which cannot be deduct; for this reason, the contribution grows and these contributions aren't taxed.
It is also to be note that, earnings in a Roth account can be tax-free rather than tax-deferred
Answer:
The correct answer is letter "B": personality.
Explanation:
Personality refers to all those behaviors, cognitions, and emotions individuals have and are the result of biological factors and the interaction of people with society. In such a case, it is said that personality factors are inherent and acquired. People's personalities are different and each one of them has unique features that make it impossible for two individuals to be the same.
