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3 years ago

6

Sharon was debating whether she should open an account with a savings and loan association or with a credit union. She decided t

hat the savings and loan association was best for her. What could have been a reason that she opted for the savings and loan association?

1 answer:

Yakvenalex [24]3 years ago

8 0

The interest rate might have been higher.

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Example : Yazici Advertising purchased supplies costing 2,500 on October 5. An inventory count at the close of business on Octob

Over [174]

Question Completion:

Journalize the adjusting entries:

Answer:

Yazici Advertising

Adjusting Journal Entries:

Date Account Titles Debit Credit

October 31:

1. Supplies Expense $1,500

Supplies $1,500

To record the supplies expense for the year ended October 31.

2. Insurance Expense $50

Prepaid Insurance $50

To record the insurance expense for the month of October.

Explanation:

a) Data and Analysis:

October 31:

1. Supplies Expense $1,500 Supplies $1,500 ($2,500 - $1,000)

2. Insurance Expense $50 Prepaid Insurance $50 ($600 * 1/12)

3. From the scenario, the year-end is October 31.

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3 years ago

Harmon recently quit his job that he had worked at for the past 10 years in

Leviafan [203]

Answer:

d. Harmon only needs to show the bank his record of income from

his old job, not his new business.

5 0

3 years ago

Baillie Power leased high-tech electronic equipment from Courtney Leasing on January 1, 2021. Courtney purchased the equipment f

Sholpan [36]

Answer:

Beginning Installment Interest Ending

1 144,605.00 20,000 0 124,605

2 124,605.00 20,000 3,738.15 108,343

3 108,343.15 20,000 3,250.29 91,593

4 91,593.44 20,000 2,747.80 74,341

5 74,341.25 20,000 2,230.24 56,571

6 56,571.48 20,000 1,697.14 38,269

7 38,268.63 20,000 1,148.06 19,417

8 19,416.69 20,000 582.50 0

Journal entries:

Cash 20,000 debit

lease receivables 124,605 debit

Lease Equipment 144,605 credit

--Jan 1st

cash 20,000 debit

interest revenue 3,738.15 credit

--March 31st

cash 20,000 debit

interest revenue 3,250.29 credit

lease receivables 16749.71 credit

--June 30th

cash 20,000 debit

interest revenue 2,747.80 credit

lease receivables 17252.20 credit

--Sep 30th

cash 20,000 debit

interest revenue 2,230.24 credit

lease receivables 17,769.76 credit

--Dec 31st

Explanation:

<em><u>Present value of the lease payment:</u></em>

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 20,000

time 8 (eight quarters)

rate 0.03 (12% annual --> divided among four quarters = 3%)

$20000 \times \frac{1-(1+0.03)^{-8} }{0.03} = PV\\$

PV $144,605.6591

We build the table starting from the present value. Then, we subtract hte installment and in the second period we start doing interest calculations

(not in the firt one as it is being paid in the present thus, no interest accrued)

8 0

3 years ago

Which type of password would be considered secure? AYour social media handle and current age. BA line from your favorite song. C

Sholpan [36]

D, none of the above

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3 years ago

Read 2 more answers

How to do presentation

Tatiana [17]

Explanation:

You can go to Microsoft words or Power point..

These can help you type your presentation or if on phone you can go to normal Notes app or word app....

I hope this helps you

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3 years ago