Answer:
The Adjustment Entry for accrual of Interest Expense will be as follows:
Dr. Cr.
Interest Expense $840
Interest accrued Payable $840
Explanation:
Interest per day = $28
Interest expense for the Month = $28 x 30 = $840
$840 of Interest expense will be accrued at the end of the month and it should be adjusted accordingly.
Answer:
Mixed economy.
Explanation:
In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are privately owned. Mashwen is a <u>Mixed</u> economy.
Mixed economy: It is a shared economy system, which has equal role of private enterprises and public enterprises. In the current global market, most of the economy are mixed economy. It allow private enterprises with equal opportunity to participate in the market, it create healthy competition among different player and buyer can have variety of product at low price.
Answer:
Sherman Antitrust Act of 1890
Explanation:
Based on the information provided within the question it can be said that this communication is violating the Sherman Antitrust Act of 1890. This Act was passed prohibiting any contract, trust, or conspiracy in restraint of interstate or foreign trade in order to prevent oppressive business practices and monopolies. This is what the two companies are doing by agreeing to jointly raise the price they are able to control the entire markets price thus creating a monopoly in the automotive industry, which forces consumers to pay a lot more than what the vehicles are actually worth.
Answer:
The correct answer is the second option: unit of account.
Explanation:
To begin with, the particular concept of money, in the economics field, has a lot of application that can vary depending on wheter the use that person is going to give it to it. In the cases where the money is use in the accounts of the companies to keep the books in actual values of the day then the money has the function of acting as a unit of account in order to know how much is the amount that it has to be registered in the books and therefore that the banker is using the money as a unit of account for the bank.