Debit Income Summary and credit Dividends for $25,000.
Answer: Option 5.
<u>Explanation:</u>
The balancing account of the company or an organisation is where the entries of the company are made and recorded so that at then end of the year the financial position of the company becomes clear to the stake holders of the company.
It is a double entry book keeping record where single entry is made on two sides of the book, the debit side and the credit side. This makes the book in balance for every entry. Entry on the debit and the credit side is made with the same amount to maintain the balance.
Deposit (PV): $10,000
Years between the 18th month and the fifth year (n) = 3.5
(I)=7% yearly interest rate
Simple interest approach accumulated value equals P*(1+(i*n)).
=1000*(1+(7%*3.5))
=1245
Thus, the total value at the end of five years will be $1245.
Compound interest method accumulated value equals P*(1+i)n
=1000*(1+7%)^3.5
=1267.19
Therefore, the total value after five years will be $1267.19.
Learn more about simple interest here ;
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The answer is D. Operating, investing, and financing
Answer:
175$-348.80$
Explanation:
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