Answer:
The correct solution is "6.09%".
Explanation:
Given:
Nominal rate,
= 6%
or,
= 0.06
As we know,
⇒ ![EAR = [(1+\frac{APR}{m} )^m]-1](https://tex.z-dn.net/?f=EAR%20%3D%20%5B%281%2B%5Cfrac%7BAPR%7D%7Bm%7D%20%29%5Em%5D-1)
By substituting the values, we get
![=[(1+\frac{0.06}{2} )^2]-1](https://tex.z-dn.net/?f=%3D%5B%281%2B%5Cfrac%7B0.06%7D%7B2%7D%20%29%5E2%5D-1)
![=[(1+0.03 )^2]-1](https://tex.z-dn.net/?f=%3D%5B%281%2B0.03%20%29%5E2%5D-1)
(%)
Answer:
Explanation:
The adjusting entry is shown below:
Deferred Subscription Revenue A/c Dr $12,000
To Subscription revenue A/c $12,000
(Being the deferred subscription amount is adjusted)
The computation is shown below:
= Number of subscriptions sold × sale price each × (number of months ÷ total number of months in a year)
= 400 subscriptions × $90 × (4 months ÷ 12 months)
= $36,000 × (4 months ÷ 12 months)
= $12,000
The four months are reported from the September 1 to December 31
Answer:
the answer is D it is the right answer
The answer is $230,000. For a manufacturing firm, cost of goods available for sale is computed by adding the beginning finished goods inventory to $230,000
Answer:
January 1
Cash 614000 Dr
Notes Payable 614000 Cr
Explanation:
The Sheffield Brick Company has borrowed from the Admire county bank which means the note payable is a liability in the books of the Sheffield Brick company. As liability is increased or recorded, it is credited. The amount of liability is $614000 on the day of the issuance of note. Thus, Sheffield will credit Note payable by $614000.
The Sheffield company has received cash by signing note. As cash is an asset and it is increasing, the Sheffield company will debit cash by 614000 against the notes payable.
