Answer: $500
Explanation:
Interest for the period = Amount borrowed * Interest rate * 120/360 days
= 15,000 * 10% * 120/360
= $500
Answer:
Interest Receivable 6,490 debit
Interest Revenue 6,490 credit
(To record interest revenue from Stellar Enterprises loan)
Explanation:
The banks accounting will reflect the accrued interest as well. From their perpective, the interest are revenue as they are the lender of the loan.
It will recognize the interest revenue from the accounting period
and will declare the interest receivable for the same amount.
<u>From this we can deduct:</u>
the payable from one entity is a receivable for another entry.
the interest expense from one firm will be interest revenue for another.
Answer:
a.reduced MI and increases M2
Explanation:
Hope that help you!!
Answer: $12
Explanation:
The reasonable production cost for a backpack in this segment will be calculated as 50% multiplied by the average retail price which will be:
= 50% × $24
= 50/100 × $24
= 0.5 × $24
= $12
Usually they start out small as family-owned restaurants and gradually increase until chains are created