1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Over [174]
3 years ago
13

The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entr

y by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
Nookie1986 [14]3 years ago
5 0

Answer:

Dr Cash $150

Cr Interest Revenue $150

Explanation:

Based on the information given ifnThe bank statement included a CREDIT MEMORANDUM in the amount of $150 for interest which means that the journal entry will be :

Dr Cash $150

Cr Interest Revenue $150

You might be interested in
What it means to you to communicate as a professional in a business context​
Len [333]
Professional communication refers to the oral, written, visual, and digital forms of delivering information in the context of a workplace. Effective professional communication is critical in today's world. ... Effective communication ensures a smooth flow of ideas, facts, decisions, and advice.
8 0
3 years ago
Suppose that you just paid $76,000 for a security that will make its first payment to you in 7 years from today. It will continu
iogann1982 [59]

Answer:

$5,346.98

Explanation:

Initial cash flow = 76,000

Discount rate = 5%

Suppose the C.F. in the 7th year is x which will flow till perpetuity

Present value of annual cash flow till perpetuity = Annual cash flow / Discount rate

PV at the 7th year = x/0.05

Discount factor = (1 + r)^n

Discount rate = 5%

Years   D. factor   Cash flows

0                 0            76,000

1           0.952381            -

2          0.907029           -

3          0.863838           -

4          0.822702           -

5          0.783526           -

6          0.746215            -

7           0.710681          x/0.05

So, 76000 = 0.710681 *(x/0.05)

76000 / 0.710681  = x / 0.05

x = 76000 / 0.710681 * 0.05

x = 5346.98408990813

x = 5346.98

Hence, if the interest rate is 5%, $5346.98 will be received annually from the 7th year

7 0
3 years ago
Describe an example of a problem that could be solved using the Coase theorem. Do this by defining a hypothetical situation wher
wariber [46]

Answer:

Explanation:

Theorem Utilization: Coase Theorem has been created to take care of the issue of market disappointment. Market disappointment exists where value component doesn't convey productive outcome.  

Example : For instance, dairy cattle of Rancher wandered into close to field. this is a sort of negative externalities. On the off chance that property right is given to rancher, at that point he can sue Rancher for making harm crop. Yet, there is no privilege to rancher, it suggests that privilege has been given to farmer. Presently here rancher will attempt to repay Rancher to lessen the size of his cows group.  

Three necessary conditions:

  1. The rights of property should be well defined.
  2. The rights of property should be transferable.
  3. The cost of transaction must be sufficiently small.

It doesn't make a difference whom property right is given, there will be effective results. Coase hypothesis bombs where haggling cost rises or free rider issues are seen.

3 0
3 years ago
Desired consumption is Cd = 100 + 0.8Y - 500r - 0.5G, and desired investment is Id = 100 - 500r. Real money demand is Md/P = Y -
allochka39001 [22]

Answer:

Under a) r=0.1;Id=50;Cd=750;P=7 b) P only changes and is now 9.33

Explanation:

a)  In a closed economy national savings are equal to investments or:

S d = I d = Y - Cd - G

Id = Y - 100 - 0.8*Y + 500*r - 0.5*G

100 - 500*r = 0.2*Y -100 + 500*r -0.5*G

200 - 1000*r = 0.2*1000 - 0.5*200=100

-1000*r=-100

r= 0.1

i = 0.15

Id = 100 -50 =50

Cd= 100 + 800 - 50 - 100=750

P = Md/Y-2000 i

P= 2100/1000 -300=7

b) If money supply increases to 2800, the price level would be:

P = 2800/Y - 2000*i = 2800/Y- 2000*(i-inflation)

However, since the variables determining real interest rate remained the same, r is also the same or 0.1 and i is 0.15. Consumption and investment remain the same, only price level changes or:

P=9.33  

4 0
3 years ago
Suppose the price of Twinkies is reduced from $1.45 to $1.25 and, as a result, the quantity of Twinkies demanded increases from
valentina_108 [34]

Answer:

d. .64.

Explanation:

Price elasticity of demand measure the responsiveness of demand against change in the price of given product. It measures the ratio of change in demand to change in price.

Change in demand = ( 2200 - 2000 ) / [ (2200+2000)/2 ] = 200 / 2100 = 0.0952

Change in price = ( 1.25 - 1.45 ) / [ (1.25+1.45)/2 ] = 0.2 / 1.35 = 0.148

Elasticity of Demand = Change in demand / change in price = 0.0952 / 0.148 = 0.643 = 0.64

6 0
3 years ago
Other questions:
  • Which demand did the aim members insist the fbi negotiator grant immediately?
    6·1 answer
  • Which philosopher was a proponent of the phrase "honesty is the best policy"?
    8·1 answer
  • Selected information from Arbon Corporation's accounting records and financial statements for 2021 is as follows ($ in millions)
    14·1 answer
  • When land is purchased to construct a new building, the cost of removing any structures on the land should be charged to the bui
    6·1 answer
  • What weakness is revealed by always being late to team practice
    8·2 answers
  • The blank view in a presentation program displays your slides in full screen mode
    11·2 answers
  • Accounting Fundamentals of Healthcare ManagementWorking capital techniques focus specifically on what aspects of an organization
    14·1 answer
  • which circumstance is most likely to cause a farmer to store soybeans for a future sale instead of selling them right after harv
    12·1 answer
  • Which of the following is not a factor in determining whether an agent is a servant or independent contractor? level of supervis
    5·1 answer
  • The First Bank of the United States had characteristics that differ from those of the modern central bank of the United States.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!