Answer:
$177,114.99
Explanation:
The ending balance of the loan at the end of the 30th month after the monthly payment is the beginning balance at the beginning of the month plus the interest for the month minus the monthly payment.
Note that the interest expense for the month increases the loan balance while the monthly payment reduces the balance.
interest expense for 30th month=beginning balance*fixed interest rate/2
interest expense for 30th month=$177,391.93*4.375%/12
interest expense for 30th month=$646.74
monthly payment =$923.68
The ending balance of the loan=$177,391.93+$646.74-$923.68
The ending balance of the loan=$177,114.99
Answer:
A significant difference between a trial and an administrative hearing is thtat a hearsay con be introduced as evidence, in an administrative hearing.
Answer:c. Debit Interest Receivable, $4,000; credit Interest Revenue, $4,000.
Explanation:
The interest payable = Principal x Rate x Time (period)
= $100,000 x 12% x 4/12 ( September to December)
$100,000 x 0.12 x 1/3
$100,000 x 0.04
=$4000
Journal entry to record accrued interest at Year end for loan issued on sept 1st.
Date Account titles Debit Credit
Dec 31st Interest Receivable $4000
Interest Revenue $4000
Answer:
B
Explanation:
I think you've already figured this out for yourself, but I thought I'd answer anyway and maybe clarify some things.
Supply is the total amount of a <u>good or service</u> that is available to consumers.
- Think about it: goods are physical things bought and sold, like apples. Services are actions done for another person, like taxi driving or renting a used car.
- None of the other answers make sense: a "device" is not a strictly defined term in economics; an "industry" can't be available to consumers, and a "warranty" isn't applicable.
Answer:
Flexible budget and master budget are very different.
Explanation:
The "master budget" is the sum of all the budgets that are prepared by a company's various departments. They include financial statements that are budgeted, a financing plan and a cash forecast. They are based on one specific level of production.
A "flexible budget" is a budget that changes or adjusts when the level of activity changes. They are dynamic in nature and can be operated on many levels of output. It is realistic and not based on assumption.
