Why would banks offer lower interest rates for loans?
2 answers:
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Answer:
Explanation:
The closing entries for the following accounts are shown below:
1. Service Revenue A/c Dr $44,000
To Income Summary $ 44,000
(Being revenue account closed)
2. Income Statement Dr $33,100
To Depreciation Expense of Equipment $3000
To Salaries Expense $22,000
To Insurance Expense $2,500
To Rent Expense $3,400
To Supplies Expense $2,200
(Being expenses accounts are closed)
3. Income summary A/c Dr $10900
To T. Cruz Capital A/c $10900
(Being the difference is credited to capital account)
4. T. Cruz, Capital A/c Dr $7,000
To T. Cruz, Withdrawals A/c $7,000
(Being withdrawal account is being closed)
The preparation of the trial balance is presented in the spreadsheet. Kindly find the attachment below:
Answer:
240 units
Explanation:
We can find Optimal order quantity easily by Optimal order quantity formula using the fixed order quantity formula
Formula:: Optimal order quantity =
Where
Co = Ordering cost per order
D = Annual demand
Ch = Holding cost per unit
Calculations
Lets put in the values
Optimal order quantity =
Optimal order quantity =
Optimal order quantity = 240 units
Note: There must have been a mistake in question options the answer is 240 and closest to 240 is option B