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oksano4ka [1.4K]
3 years ago
13

On September 1, 2017, Banner Co. borrowed $70,000 from the City Bank for five months at 9%. Interest was properly accrued on Dec

ember 31, 2017. What entry is needed to record the payment of the note and accrued interest on the due date?
Business
1 answer:
trasher [3.6K]3 years ago
7 0

Answer:

Explanation: Journal Entry

Loan Borrowed is $70,000

Interest rate is 9%

Interest accrued = 70,000 * 9% = 6,300

1. Cr: Bank                                 $76,300                    

   Dr: Short Term Loan            $70,000

    Dr: Accrued Int on loan      $6,300

Being loan repayment with accrued interest on loan for 5 months.

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irinina [24]

Answer:

Economical, technological, and ecological.

Explanation:

PESTEL factors that are most salient for the electric vehicle segment of the car industry are economical, technological, and ecological. Electric cars would be economic as compared to gas and other forms of energy used to run a car or any other vehicle.

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3 years ago
Which organization or agency assists the fire department by alerting the public of traffic incidents or evacuations?
MariettaO [177]

Media is the organization or entity that would help the fire department with incident scene security, crowd control, and explosives disposal.

Law enforcement is the organization or entity that would support the fire department with incident scene security, crowd control, and explosives disposal. Law enforcement forces respond to emergencies around the clock and operate under a paramilitary command structure. In most traffic situations, officers act alone and are taught to make unilateral command judgments. Fire and rescue services respond to emergencies around the clock and follow a well-defined command structure on the scene. The core constituency of traffic incident management consists of eight key disciplines: law enforcement, fire and rescue, emergency medical, transportation, towing and recovery, hazardous materials cleanup, public safety communications and dispatch, and traffic reporting.

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3 0
1 year ago
7. Which of the following characteristics should exist to
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I think the answer is C but i could be wrong
4 0
3 years ago
Practice Makes Perfect Inc. was started on July 1 of the current year. Practice Makes Perfect provides piano lessons for student
Natalka [10]

Answer:

I used an excel spreadsheet to record this transactions on an accounting equation.  

Practice Makes Perfect, Inc.

Income Statement

For the month ended July 31, 202x

Revenues                                               $2,000

Expenses:

  • Advertising expense $500
  • Rent expense $1,000
  • Wages expense $1,000
  • Supplies expense $300
  • Depreciation expense $750
  • Interest expense $417                 <u> ($3,967)</u>

Net income                                             ($1,967)

Practice Makes Perfect, Inc.

Balance Sheet

For the month ended July 31, 202x

Assets:

  • Cash $99,783
  • Accounts receivables $1,800
  • Supplies $1,700
  • Pianos $47,250

Total assets                                         $150,533

Liabilities:

  • Accounts payable $2,500
  • Notes payable $50,000

Total liabilities                                      $52,500

Stockholders' equity

  • Common stock $100,000
  • Retained earnings ($1,967)

Total stockholders' equity                  $98,033

Total liabilities + equity                      $150,533        

Download pdf
6 0
3 years ago
The geometric average return answers the question What was your return in an average year over a particular period?
Andreyy89

Answer: A. What was your average compounded return per year over a particular period?

Explanation:

Geometric return is calculated by the formula;

= [(1 + r1) * (1 + r2) * (1 + r3) *.... (1 + rn)] ^1/n

This allows for one to calculate the compounding effect over a period of time by showing the compounded annual growth rate which means that it tells what the average compounded return was per year in a particular period.

6 0
3 years ago
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