Answer:
Interest= 25%
Explanation:
Giving the following information:
Friendly’s Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when you get your paycheck in one week (or else).
Interest for the operation:
Interest= 10/8*100= 25%
The answer is d) purchasing reduced fat lattes during the week
Explanation:
The Journal entry is given below :-
Bonds payable $2,000,000
To common stock $1,000,000
To Discount on common stock $30,000
To Paid in capital $970,000
The calculation of bonds payable, common stock is below:-
For bonds payable
= 2,000 × $1,000
= $2,000,000
For common stock
= 2,000 × 50 × $10
= $1,000,000
For paid in capital
= $2,000,000 - ($1,000,000 - $30,000)
= $970,000
Answer:
maximum amount in dollar is payable = $344000
so correct option is a. $344,000
Explanation:
solution
we find here premium that is paid here
premium paid = 200000 pounds × $0.04
premium paid = 8000
and
amount payable in Dollar for 200000 pounds is
amount payable in Dollar = 200000 × $1.68
amount payable in Dollar = $336000
so whatever is happen in market
maximum amount in dollar is payable is
maximum amount in dollar is payable = $336000 + $8000
maximum amount in dollar is payable = $344000
so correct option is a. $344,000
Answer:
The accrual principle
The main purpose of adjusting entries is to update the accounts to conform with the accrual concept. At the end of the accounting period, some income and expenses may have not been recorded, taken up or updated; hence, there is a need to update the accounts.
