Answer:
The interest is $189.78
Explanation:
The computation of the interest on January 20 is shown below:
= Principal × interest rate × number of days ÷ total number of days in a year
= $7,000 × 8% × 122 days ÷ 360 days
= $7,000 × 8% × 0.338
= $189.78
The 122 days are calculated below:
September - 10 days
October - 31 days
November - 30 days
December - 31 days
January - 20 days
Total - 122 days
And we assume the 360 days in a year
Answer:
The Answer is False.
<u>The Ware house manager who is placing an order for maintenance supplies for delivery vehicles would be making a non-Programmed decision</u>
Explanation:
<u>non-programmed decisions are the decision are basically concerned with the maintenance supplies for raw materials.</u>
<u></u>
<u>The Programmed decisions are made in response to situations that are unique,unpredictable and that are largely unstructured.</u>
Answer:
Petty cash refers to a certain amount, which is kept by the company to spend it on small items related to the business.
Explanation:
The Journal entry is given below:
Expenses decreases retained earnings; therefore, to increase any expense, one would debit the expense account
What does retained earnings mean?
Retained earnings are profits retained in the business for reinvestment and for expansion purposes, in essence, expenses would reduce the retained earnings, the higher the expenses, the lesser the retained earnings become.
From a double entry point of view, an increase in expenses would be debited to expense account and a decrease is credited instead.
Find out more retained earnings on:brainly.com/question/15175380
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