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Nastasia [14]
3 years ago
6

A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adj

usting entry for this company by completing the following sentence. The required adjusting entry would be to debit the Interest __________________ account and ___________________ the Interest ___________________ account.
Business
1 answer:
baherus [9]3 years ago
6 0

Answer:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

Explanation:

The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.

In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.

Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.

Therefore, we have:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

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Ben bought a desk for $249.99. the sales tax rate was 6.25%. how much did ben pay for the desk? round your answer to the nearest
Lemur [1.5K]
Ben paid the value of the item + sales tax 
Sales tax = 6.25% of worth of item.  
Sales tax = (6.25/100) * 249.99 = $15.62. 
Hence Ben paid $249.99 + $15.62 = $265.61 
To the nearest cent he paid $265.60
3 0
4 years ago
Market researchers often report discretionary income. Discretionary income is your disposable income minus your fixed expenses.
SOVA2 [1]

The percentage of the disposable income that is discretionary is equal to 30.82% if the amount left after fixed expenses is $900.

As the amount left after payment of the fixed expenses is $900, this is said to be the discretionary income because discretionary income is equal to the disposable income minus fixed expenses.

Now we can calculate the percentage of disposable income that is discretionary as follows;

percentage of disposable income that is discretionary = (discretionary income ÷ disposable income) × 100

% discretionary income = (900 ÷ 2,920) × 100

% discretionary income = 90,000 ÷ 2,920

% discretionary income = 30.82%

Hence, 30.82% of the disposable income is calculated to be discretionary if the disposable income is $2,920 and the amount left after payment of fixed expenses is $900.

To learn more about discretionary income, click here:

brainly.com/question/15814704

#SPJ4

3 0
1 year ago
You have three separate accounts with your bank that you can manipulate with online banking. Account "A" is a checking account w
miss Akunina [59]

Answer:

A) $10,195

Explanation:

This can be calculated as follows:

Amount in Account "B" = $12,850.25

Remaining balance after moving $2,500 from Account "B" to account "A" = Amount in Account "B" - $2,500 = $12,850.25 - $2,500 = $10,350.25

Amount moved from account "B" to account "C" = Remaining balance after moving $2,500 from Account "B" to account "A" * 1.5% = $10,350.25 * 1.5% = $155.25

Balance after moving 1.5% of the remaining balance in account "B" to account "C" = Remaining balance after moving $2,500 from Account "B" to account "A" - Amount moved from account "B" to account "C" = $10,350.25 - $155.25 = $10,195

Therefore, the correct option is A) $10,195.

6 0
3 years ago
A company pays its employees $2,900 each Friday, which amounts to $580 per day for the five-day workweek that begins on Monday.
Readme [11.4K]

Answer:

$2,320

Explanation:

Calculation to determine what amount of salaries earned but unpaid at the end of the accounting period is:

Ending salaries earned but unpaid=$2,900-$580

Ending salaries earned but unpaid=$2,320

($2,900-580)

Therefore the amount of salaries earned but unpaid at the end of the accounting period is: $2,320

5 0
3 years ago
Leisure Inc. is a vacation planning company. It provides various holiday packages, such as camping outdoors, adventure sports, i
bekas [8.4K]

Answer:

The answer is: lifestyle segmentation

Explanation:

Lifestyle segmentation refers to the marketing practice of categorizing customers into small groups, and the more information available about the potential customers, then their are divided into smaller sub-groups. These sub-groups are formed using the customers' lifestyles as basis; what do these customers like to do, what they don't like to do, how they live, etc.

Leisure Inc. uses its customers' recreational preferences (part of their lifestyle) to create small sub-groups, e.g. those who like camping, adventure sports, trekking, etc.

4 0
3 years ago
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