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vaieri [72.5K]
3 years ago
10

Discount Mart borrows $400,000 on July 1 with a short-term loan that has an annual interest rate of 6% payable on the first day

of each subsequent quarter. What will Discount Mart need to accrue on September 30, assuming that no accrual had been made since the last interest payment? Select one: A. $6,000; Decrease liabilities, decrease cash B. $4,000; Increase liabilities, increase expenses C. $6,000; Increase expenses, increase liabilities D. $4,000; Increase expenses, decrease cash
Business
1 answer:
adelina 88 [10]3 years ago
8 0

Answer:

C. $6,000; Increase expenses, increase liabilities

Explanation:

The computation is shown below:

= Borrowed amount × rate of interest × given months ÷ Total months

= $400,000 × 6% × 3 months ÷ 12 months

= $6,000

So this $6,000 represent an increase in liabilities and increase in expenses

hence, the correct option is c.

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In two or more complete sentences, compare and contrast making a purchase with a debit card versus making a purchase with a cred
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Answer:

When you pay with a credit card you use the bank's money that you have to pay back but with a debit card, you are using money straight out of your account. In the end, you are basically using your money just not in the form of paper.

Explanation:

When you pay with a credit card you use the bank's money that you have to pay back but with a debit card, you are using money straight out of your account. In the end, you are basically using your money just not in the form of paper.

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2 years ago
Both the employee and the employer contribute to the F.I.C.A. fund and to the Medicare program. True or False
denpristay [2]
True, the employer and employee will have to contribute to F.I.C.A and the Medicare program. 
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3 years ago
How would you convince someone to buy a HoverBoard that actually hovers, If you were the person who made the product? (The produ
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Get them maybe a discount or lower the price

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3 years ago
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By tying a manager's compensation to the performance of the firm relative to that of its competitors, corporate stockholders and
tensa zangetsu [6.8K]

Answer:

The correct answer is letter "A": principal-agent problem.

Explanation:

The principal-agent problem arises when a principal employs an agent to perform duties that conflict with the agent's best interests. The problem typically occurs when the principal provides the agent with incentives that act in the principal's interest but is for the agent a conflictive agenda. In the managerial world, the principal-agent problem usually occurs between stockholders and the CEO (Chief Executive Officer).

4 0
3 years ago
Marco Nelson opened a frame shop and completed these transactions: Marco started the shop by investing $41,900 cash and equipmen
ruslelena [56]

Answer:

The balance of the cash account after these transactions were posted is $45,200

Explanation:

cash balance after these transaction = Cash Investing in Shop - Paid cash for receptionist salary + Receive cash from sale of frame

                                                              = $41,900 - $3,100 + $6,400

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