Answer:
From all indications,it is very clear that the question requires a journal entry to record the unpaid interest.
Dr Interest expense $1125
Cr Interest payable $1125
Explanation:
This is a typical case of an omitted entry in the books of accounts,specifically it relates year-end close accounting adjustments.
Under the accrual basis, which is prevalent in the private sector,expenses are to recorded when incurred not when they are settled in cash,as result it is imperative that the above transaction needs be adjusted by debiting interest expense account and crediting same amount to interest payable account to affirm that the company has an obligation to $1125 to mortgage providers.
I think the answer would be data mining. It is the use of a variety of statistical analysis tools in marketing research to uncover previously unknown patterns in data or relationships among variables. It is a process of making patterns from a large data by use of different methods. Hope this helps.
Answer:
The economy of the Gilded Age was characterized by:
(i) economic growth and high unemployment among unskilled workers.
(ii) a deep recession in which high unemployment fueled massive and rebellious social change.
(iii) slow economic growth and high unemployment among the middle class.
(iv) rapid economic growth and social change.
Economy:
Economy simply indicates an arrangement in which the people are indulged in consumption, and other economic activities. No arrangement can ever be said as an economy without the prevalence of economic activities.
Answer and Explanation: 1
The correct answer is (iii) slow economic growth and high unemployment among the middle class
In the US, glided age resembles the scenario prevailing in the last phase of 19th century. The primary feature of this age is the slower pace of economic growth. This indicates when the economy is least indulged in industries. Also, several people stay unemployed despite lying within middle-income classes. This is because if the people lying in the middle class are unemployed, then it could be understood that poverty would be extreme in an economy.
Answer:
Sold at Premium (C)
Explanation:
Here, the proceeds from the bond issue ($760,000) is higher than the par value of the bond ( $750,000 ) , meaning that it has been issued at premium.
The excess of cash received over the par value of the bond should be credited to premium on Bond payable Account .
Then, the excess of effective interest charged over interest paid will be used to write-off the premium on bond payable for the period of the bond.
