If it costs $5.10 to get $4.10 from Friendly's then the loanee would pay about 24% which is a pretty high interest rate and presumably the interest rate would decrease with a higher amount loaned as on a larger amount the actual amount of interest earned would still be significant with a lower interest rate.
Answer:
Rent expense (Dr,) $9,800
Prepaid Rent $9,800
Explanation:
The accrual concept of accounting requires us to record the expenses in a period in which they are incurred rather than when cash is paid. When the company paid advance rent of six months at the end of October, it will record a current asset (Unexpired resource) on the face of balance sheet. At the end each accounting period, it is required to expense out the resources (benefits) that are expired (utilized). This can be done through straight-line method. So, on December 31, 2019, the rent expense of two months that is of November and December should be charged to profit and loss statement in-order to record the expense of related period.
<u>Workings</u>
Rent expense per month = 29,400 / 6 = $4,900.
⇒ Rent expense of two months = 4,900 * 2 = $9,800.
This amount should be written off and the required adjusting entry is:
Rent expense (Dr,) $9,800
Prepaid Rent $9,800
Answer:
The answer is: E) devaluated; appreciated
Explanation:
A currency devaluation happens when a country´s currency is deliberately adjusted downward to make it lose value relative to another currency. If this downward adjustment happens in the foreign exchange market and is not deliberately done by a government, is called currency depreciation.
A currency revaluation happens when a government deliberately adjusts the value of its currency upwards to make it gain value relative to another currency. When this upward adjustment happens in a foreign exchange market and is not deliberately done by a government, is called currency appreciation.
Answer:
A. for government to provide the good and then pay for its production through taxation.
Explanation:
Free Riding is an economic problem implying usage of 'non excludable' good, by people not contributing to pay for it.
Example : Roads, Bridges etc.
One most suitable solution to free rider problem is : Providing it through government and treating all prospective beneficiaries as unified consumers set , dividing the entire total cost equally between all of them - through mechanism of taxation
Answer: 0.59 ± 0.081 = (0.671, 0.509)
Explanation:
The sample proportion, p = 118/200 = 0.59
The test statistic at 98% confidence interval is given by :
p + z*Sqrt(p(1-p)/n) ; p - z*Sqrt(p(1-p)/n)
z at 98% C.I. is 2.33
Therefore, 0.59 + 2.33 * sqrt(0.59*(1-0.59)/200) and 0.59 + 2.33 * sqrt(0.59*
(1-0.59)/200)
=0.59 + 0.081 and 0.59 - 0.081
=0.671, 0.509
