In recording business transactions, evidence that an accounting transaction has taken place is obtained from source documents. A source document is the first and origional way that transactions are entered for an accounting system. Everything in the source documents then gets transferred into a companies accounting system and stored for later use. The first and original documents are the source documents because they are the source of where the first transactions were recorded.
Answer and Explanation:
The computation of the effective annual rate in each of the following cases are
1.
Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1
= (1 +0 .09 ÷ 4)^4 - 1
= 9.31%
2.
Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1
= (1 + 0.16 ÷ 12)^12-1
= 17.23%
3.
Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1
= (1 + 0.12 ÷ 365)^365-1
= 12.75%
4 .
Effective annual rate = [(e)^Annual percentage rate]-1
e=2.71828
So,
=[(2.71828)^0.11]-1
= 11.63%
Answer: excused by Delta's failure to pay.
Explanation:
Delta Construction Corporation hires Eagle Electrical Company, as a subcontractor, to wire its new office building. After the completion of the work, Eagles is owed more than $50000.
Eagle's suspension of work is most likely due to the excuse by Delta's failure to pay. Delta has a right to pay up the money owed to Eagle. Lack of payment can lead to court cases.
