Some checking accounts require a minimum amount of money in the account or they charge point monthly fees?

On December 31, Leann Corp. paid $5,120 on an installment note that requires annual payments. The outstanding loan balance on Ja

OleMash [197]

Answer:

Dr Interest expense $4,000

Dr Notes payable $1,120

Explanation:

The $5,120 repaid comprised of both interest and principal repayments,hence there is need for the amount to be split into the two appropriate accounts.

The interest payable on the loan on yearly basis ,based on the outstanding loan balance of $50,000 is $4,000(8%*$50,000),hence the balance of $1,120($5,120-$4,000) represents the actual repayment of principal,as a result the notes payable account should be debited with $1,120.

3 0

4 years ago

aRhonda owns an office building that has an adjusted basis of $45,000. The building is subject to a mortgage of $20,000. She tra

Scorpion4ik [409]

LaRhonda realized and recognized gain or loss are: $45,000; $35,000.

a. LaRhonda realized gain:

Using this formula

Realized gain = (Cash + Fair market value of building + Mortgage) - Adjusted basis

Let plug in the formula

Realized gain = ($15,000 + $50,000 + $20,000) - $45,000

Realized gain = $85,000-$45,000

Realized gain = $40,000

b. LaRhonda recognized gain or loss

Using this formula

Recognized gain = Cash + Mortgage

Let plug in the formula

Recognized gain =$15,000 +$20,000

Recognized gain= $35,000

Inconclusion LaRhonda realized and recognized gain or loss are: $45,000; $35,000.

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brainly.com/question/15176463

4 0

2 years ago

Suppose that consumers purchase fish and computer chips. In 2010, one pound of fish costs $1, a computer chip costs $1, and the

tangare [24]

Answer:

42.5%

Explanation:

The computation of the inflation rate between 2012 and 2011 is shown below:

But before that we need to do the following calculations

Cost of basket for the year 2011 is

= 5 × 2 + 20 × 0.5

= 10 + 10

= 20

And the base year price index i.e. CPI is 100

Now

Cost of same basket in year 2012 is

= 5 × 2.10 + 20 × 0.90

= 10.5 + 18

= 28.5

Now

CPI in 2012 is

= ($28.5 ÷ $20) × 100

= 142.5

So,

Inflation rate is

= (142.5 ÷ 100) - 1

= 1.425 - 1

= 0.425

= 42.5%

5 0

3 years ago

22. Communication that takes place between a manager and employees of other workgroups is called ………… communication.

garri49 [273]

Answer:

xffggyyhh bbhhhhhhhhhgfddf

3 0

4 years ago

A high-end clothing manufacturer has a policy to inspect each article of clothing before it is shipped to customers. Recently, t

Dima020 [189]

Answer:

Examine the reliability of the process.

Explanation:

As a high end clothing company, it is a very good initiative and welcoming to have clothes that possibly posses global version and global value so it is good for such routine checks to be done. This could be tedious and cost the company more than usual.

In this case where there are a reasonable amount of such clothes failing these routine checks, it is not too good for the company as more re-evaluations are to be done in order to cub the rate at which this is in the last six months. This process of examining the reliability process is the company's best bet to tackle the issue they have at hand.

8 0

3 years ago