Answer: He could borrow from one of the following options:
(a) $18,605
(b) $11,428
(d) $20,000
Explanation:
If Owen borrows $18,605
Bank interest rate = 7.1% of $18,605
=7.1/100 ×$18,605
=$1, 320.955
Owen's debt at his bank=
$18,605+$1,320.9555 =
$19,925.955
When Owen receives the trust fund of $25,000, he can pay his debt and still has $5,074.045 with him.
If Owen borrows $11,428
Bank interest rate = 7.1% × $11,428
=$811. 388
Owen's debt at his bank=
$811.388+$11,428 =
$12,239.388
When Owen receives the trust fund of $25,000, he can pay his debt and still has $12,760.612 left with him.
If Owen borrows $20,000
Bank interest rate =7.1% of $20,000
=7.1/100 ×$20,000
=$1, 420
Owen's debt at his bank=
$20,000 + $1,420 = $21,420
When Owen receives the trust fund of $25,000, he can pay his debt at his bank and still has $3,580 left with him.
Answer:
False
Explanation:
False because the income, expenses accounts are closed to profit and loss account or income summary.
they are closed by transferring the credit balances in revenue a/c and debit balnace in expenses a/c to clearing account income summary.
The assets and liabilities , common stock, equity account are not closed.
One good way is to do an online survey so you get the results intantly. the downside of online is that not every one knows that there is a survey. Hard copy surveys are also good, but the tend to get lost and cluttered. oh yeah, the more people take the survey, the more accurate it should be
Linux is a open source operating system where as windows and os x are not .
