Answer:
Explanation:
The journal entry is shown below:
Interest expense A/c Dr $3,000
To Interest payable A/c $3,000
(Being interest is recorded)
The computation of the interest expense is shown below:
= Principal × rate of interest × number of months ÷ total number of months in a year
= $125,000 × 6% × (4 months ÷ 12 months)
= $2,500
The four-month is calculated from the September 1 to December 31
Answer:
D) a decrease in both the aged cheddar cheese and bread markets.
Explanation:
A 10% income tax increase will shift the aggregate demand curve to the left, reducing total demand. This should affect both necessities and luxury goods.
In this case, the demand curve for both aged cheddar cheese and bread will shift to the left, reducing the total quantity demanded at every price level. This will result in a lower equilibrium price for both goods.
Answer:
An investment with more liquidity would be ideal for someone who knows they will nee cash in the near future.
Explanation:
More liquid assets are those that can be turn into cash more quickly than those that less liquid assets.
If one is thinking about investing in a liquid asset, surely is because it will need the cash in the short run. On the contrary, we could invest in other financial instruments less liquid (typically those who offer higher yields and have longer terms), because we are not going to need the money for the moment, and we want to take advantage of that to get a higher yields.
Answer:
Dr supplies expense $4,100
Cr supplies $4,100
Explanation:
Supplies used in the year needs to be ascertained before any adjusting entry can be posted.
Supplies used=beginning supplies+purchases-ending supplies
beginning supplies is $3,690
purchases of supplies was $1,700
ending balance of supplies was $1,290
supplies used=$3,690+$1,700-$1,290=$ 4,100.00
The used portion of supplies would be debited to supplies expense while supplies inventory is credited with the same amount.
Transfer cash from savings to checking because monthly expenses should always be made with cash.
The most critical principle for using credit cards is to continually pay your invoice on time and complete it.
Following this easy rule assist you to keep away from interest charges, past due prices, and bad credit score scores.
By means of paying your invoice completely, you will avoid interest and construct towards an excessive credit score score.
In step with our recent survey, 3 out of four consumers within the usa choose credit cards based totally on the attraction of interest fees, non-public records and fraud safety and rewards offers.
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