Answer:
Debit interest receivable $1,500
Credit interest revenue $1,500
Explanation:
Adjust entries are used in accounting to record accrued revenue or expense at the end of an accounting period.
On March 1, 2021, Bearcat lends an employee $20,000. The employee signs a note requiring principal and interest at 9% to be paid on February 28, 2022.
We are to calculate the adjustment at December 31, 2021.
We need to calculate interest accrued at year end. The loan would have stayed for 10 months.
Interest= principal* rate* time
Interest= 20,000* 0.09* (10/12)
Interest = $1,500
So we will debit interest receivable for $1,500 and credit interest revenue.
Answer:
b. E-mail facilitates collaboration between people in remote locations; however, when collaboration requires the exchange of large data files, it is often easier to use web-based collaboration software.
d. E-mail can be an efficient way to communicate, and it makes communicating across time zones much easier.
Explanation
Sentence B is correct because it employs the use of a semicolon to separate two independent clauses. The use of the conjunction, <em>however</em>, helps to separate two sentences that have opposite connotations.
Sentence D is correct because the conjunction, and, was used appropriately to add a second thought to the sentence. The comma was also used correctly as it spliced the sentence and was immediately followed by the conjunction, <em>and</em>.
Answer:
d. soft rationing
Explanation:
Soft rationing -
It is the process in which the company itselves takes the decision to limit the amount of capital , which is used for the investment for a given period of time , is known as soft rationing .
It is referred to as soft , as the decision is taken by the firm itself , where the changes and alteration all are done by the firm only according to the future goals and practices .
hence , from the question , the situation given , depicts - soft rationing .
Answer:
b. $31,000
Explanation:
The computation of the depreciation expense using the straight-line method for the second year is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($127,000- $3,000) ÷ (4 years)
= ($124,000) ÷ (4 years)
= $31,000
Hence, the correct option is b. $31,000
The units are to be ignored as the method i.e used is straight line so the same is to be considered
