Answer and Explanation:
The computation of the net income or loss for the year is shown below:
As we know that
Ending retained earnings balance = beginning retained earning balance + net income or net loss - dividend paid
$35,000 = $30,000 + net income or net loss - $13,000
$35,000 = $17,000 + net income or net loss
So, the net income or net loss is $18,000
This is an answer but the same is not provided in the given options
The answer is
"Individual".<span>
<span>Each of these mentioned factors with few variations will
influence the business buying decision process. One or more changes in these
might lead to a different result. These factors can also operate in different
ways varying from person to another person.</span></span>
Answer and Explanation:
The computation is shown below:
Interest payable:
= Borrowed amount × rate of interest × given months ÷ total months
= $80,000 × 7% × 5 ÷ 12
= $2,333.33
And,
Interest expense:
= Borrowed amount × rate of interest × given months ÷ total months
= $80,000 × 7% × 3 ÷ 12
= $1,400
So here for recording the payment of interest the interest payable is debited for $2,333.33
The same is to be considered
D) Checkabe Deposits are assets for the bank
The third party plan that covers prescriptions for those eligible for medicare is usually an insurance plan that has extended health so that after paying a small deductible like $25 then the medicine costs will be reimbursed at the rate of say 80% of their costs.
