Answer:
cannot pay or charge interest
Explanation:
Islamic banks do not charge interest. The banks are based on Sharia law. Islamic banks make a profit through equity participation.
I hope my answer helps you
Answer:
See below
Explanation:
The cash balance as at the end of December 31 2020 is the net cash provided by operating activities, less net cash used by investing activities plus net cash provided by financing activities plus the beginning cash balance as at January 1, 2020
Net cash provided by operating activities = $569,000
Net cash used by investing activities = $988,000
Net cash provided by financing activities = $595,000
Beginning cash balance = $331,000
Closing cash balance = $569,000 - $988,000 + $595,000 + $331,000
Closing cash balance = $507,000
The following are the adjusting entries:
- Wages Expense 8000
Wages Payable 8000
- Depreciation Expense – Equipment 18000
Accumulated Depreciation – Equipment 18000
- Office Supplies Expense 5000
Office Supplies 5000
- Insurance Expense 2800
Prepaid Insurance 2800
- Interest Receivable 1050
Interest Revenue 1050
- Interest Expense 2500
Interest Payable 2500
Answer: Market the product in it's name.
Explanation:
A franchise is an arrangement to run a business under an existing business name to leverage on the name success for a high performance in return for a fee payable to the existing business name used for ones operations.