Answer:
$ 4242.76
Explanation:
Annual payment = rP / (1 - ( 1 + r)^-n)
r = rate = 9.5%
P = the amount borrowed = $ 21000
n = number of years
Annual payment = 0.095 ($ 21 000) / ( 1 - (1 + 0.095)⁻⁷ ) = $ 4242.76
Answer:
The correct answer is letter "A": True.
Explanation:
A fee interest timeshare or a simple fee represents the highest possible ownership interest someone can hold in real estate. It implies the property in reference is deeded so it is provided officially the owners to the document holder. Thus, that individual could use the property at will.
<u>Solution and Explanation:</u>
The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing
Date Accounts Titles and Explanation Post Ref Debit Credit
1 Nov-21 Notes receivable $ 72,000
Accounts receivable-McKenna Outer Wear Co. $ 72,000
2 Dec-31 Interest receivable 
$720
Interest revenue $ 320
3 Jan-20 Cash $ 73080
Interest revenue 
$360
Interest receivable $720
Notes receivable $72,000
Note: the figures have been calculated and rounded off in the nearest dollar amount.
Answer:
c) classified balance sheet.
Explanation:
A classified balance sheet can be described as a balance sheet in which the information about assets, liabilities, and shareholders' equity of a company is presented by aggregating or classifying it into subcategories of accounts.
The advantage of a classified balance sheet is that it easier to read and it makes it easier for readers to obtain required information than when the information is just presented in a large number of line items.
The classifications mostly used within a classified balance sheet include Intangible assets, fixed assets (or Property, Plant, and Equipment), current assets, current liabilities, long-term liabilities, and shareholders' equity.
In accounting, the addition of these classifications is required to match the accounting equation stated as follows:
Total assets = Total liabilities + Shareholders' Equity
