Answer:
Cobras Incorporated
Trial Balance as at March 31.
Debit Credit
Supplies $1,100
Buildings $41,000
Cash $2,100
Accounts Receivable $2,800
Prepaid Insurance $1,100
Salaries Payable $300
Accounts Payable $1,500
Common Stock $21,000
Retained Earnings $14,500
Service Revenue $18,100
Utilities Expense $2,300
Salaries Expense $5,000
Totals $55,000 $55,000
Explanation:
A Trial Balance is used to check mathematical accuracy in ledger Accounts. It represents a list of Balances : Debit and Credit extracted from the Ledger Accounts.
B. False. More real-world, relevant and important ideas to keep in mind when shopping for shoes and clothes are the associated quality of the manufacturer, which could be a brand name. Also, of utmost importance is the overall quality of the product with relation to its cost. The size of the item is also important. Do not buy an overpriced item, that does not fit properly and is made of cheap materials that quickly break.
OPTIONS:
A. Resources B. reserves. C. overheads. D. variable costs.
Answer:
A. Resources
Explanation:
Resources are factors that aid the production process of any business, which includes land, labor, capital, and management. All are combined together to make production successful. The organization’s processes, the employees and its equipment can be regarded as the company’s resources which are put together in the production of greeting cards for customers use.
Answer:
a. Income Tax Expense (Dr.) $298,000
Deferred Tax (Dr.) $30,000
Income Tax Payable (Cr.) $328,000
Explanation:
b. Income Tax expense (Dr.) $30,000
Allowance to reduce deferred tax value to NRV (Cr.) $30,000
Income tax payable is calculated based on tax rate of 40%.
$820,000 * 40% = $382,000
Variable interest rate mortgage loans have an interest rate that varies depending on the level of current interest rates.
An interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that is interest rates subject to Variable interest rate regular changes is known as a variable interest rate (also known as an "adjustable" or "floating" rate).
A variable interest rate has the obvious advantage that if the underlying rate or index decreases, so do the borrower's interest payments. On the interest rates other hand, if the underlying index increases, interest payments rise. Fixed interest rates are stable, as opposed to variable interest rates.
Variable interest rate mortgage loans have an interest rate that varies depending on the level of current interest rates.
Learn more about Variable interest rate here
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