It would be salary because its the same pay rate no matter if you work extra hrs or not
Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.
<h3>What is financial statement?</h3>
Financial statement help to summarize the financial position of a business and it as well help to show the day to day transaction of a company or day to day activities of a business at a particular period of time.
Financial statement of a company can be prepared more that once in a year and financial statement may tend to have fiscal year end that is other than last month of the year which is 31st December.
Therefore Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.
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The complete question is:
Financial statements ______. (Select all that apply.)
a. must have a calendar year end of December 31
b. may be prepared more than once a year
c. may have a fiscal year end other than December 31
d. are prepared just once a year
Answer:
$27,692.31
Explanation:
Principle amount = $2.34 million = $2,340,000
Time, n = 6 years = 72 months
Rate of interest = 5.33%
Monthly rate of interest, r = 5.33% ÷ 12 = 0.44% = 0.0044
Compounded monthly
FV of Annuity = ( Monthly deposits ) × { [ ( 1 + r )ⁿ - 1 ] ÷ r }
or
$ 2,340,000 = ( Monthly deposits ) × { [ ( 1 + 0.0044 )⁷² - 1 ] ÷ 0.0044 }
or
$2,340,000 = ( Monthly deposits ) × { [ 1.3718 - 1 ] ÷ 0.0044 }
or
$2,340,000 = ( Monthly deposits ) × [ 0.3718 ÷ 0.0044 ]
or
$2,340,000 = ( Monthly deposits ) × 84.5
or
Monthly deposits = $27,692.31
Answer:
C. DEBIT TO SALES RETURNS
D. CREDIT TO ACCOUNTS RECEIVABLE
Explanation:
The journal entry to record the May 15 transaction is shown below:
Sales return and allowance A/c Dr $40,000
To Accounts receivable $40,000
(Being sales return is recorded)
For recording the given transaction we debited the sales return and credited the account receivable. Both are recorded for $40,000
Answer:
The highest net loss of $1,562.50 (i.e. – $1,562.50)
Explanation:
This can be calculated using the following equation:
Highest net profit possible = British pounds put option price per unit × Units of the pound option
= $0.05 x 31,250
Highest net profit possible = $1,562.50
However, based on the information provided in the question, the option will not be exercised and this will result into the highest net loss of $1,562.50 (i.e. – $1,562.50).
