Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $2,480
To Interest receivable $60
To Interest revenue $20
To Note receivable $2,400
(Being the collection of funds is recorded)
The computation of interest receivable is shown below:
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $2,400 × 10% × (3 months ÷ 12 months)
= $60
And for interest revenue would be
= Principal × rate of interest × number of months ÷ (total number of months in a year)
= $2,400 × 10% × (1 months ÷ 12 months)
= $20
Answer:
$90
Explanation:
Option B is wrong because $1,035 is the dividend received from the company by Elizabeth.
Option C is wrong because $270 is the current market price of each share.
Option D is incorrect because $10,350 is the common stock value of 115 shares.
Option A is correct because $90 is Elizabeth's per-share basis in the company for which she received a dividend. Share's price increased to $270 after success.
Lena makes $45 profit.
Extra information:
The amount of profit Lena makes is 3/4th of the profit Joe makes, seeing as when Joe makes $4 profit, Lena makes $3 and $3 is 3/4th of $4. Therefore, when Joe makes a profit of $60, Lena makes a profit of (60 x 3/4) $45.
Answer:
Explanation:
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