Answer:
March 1, purchased securities from Benton Corporation:
Dr Investment in securities 500,000
Cr Cash 500,000
May 1, sold half of securities plus accrued interest:
Dr Cash 248,550
Dr Loss on investment in securities 5,000
Dr Brokerage fees 200
Cr Investment in securities 250,000
Cr Interest revenue 3,750
Securities were sold at 98 or $250,000 x 98% = $245,000, which means that the company lost $5,000 with that investment.
Answer:Churning
Explanation: My teacher told us in class
The cost when someone borrows money from someone else is known as interest.
<h3>What is interest?</h3>
Interest rate is the cost of borrowing. It is the amount the borrower pays the lender for use of their funds. It is usually a function of the amount borrowed, length of the loan and the interest rate.
For example, if a person borrows $1000 for 1 year at an interest rate of 10, the interest that would be paid is: $1000 x 0.1 = $100.
To learn more about interest rate, please check: brainly.com/question/14935026
Answer: $1942.89
Explanation:
Since the car will cost $120,000 and it will be financed with a 84 month contract having a nominal rate of 9.20%, then the monthly payment will be:
= PMT(9.2%/12, 84, -120000)
This will be slotted into the Excel calculator and the answer gotten will be $1942.89
Therefore, the monthly payment will be $1942.89.
Answer:
Explanation:
DATE Account AccountsPayable OfficeSupplies OtherAccounts
Credited credit debit debit
Apr. 4 Officemate $620 $610 no entry
Apr. 9 Tek Village $2,460 $2,460
Apr. 16Officemate $170 $170 no entry
Apr. 19 Paper to Go $250 $250 no entry
Apr. 30 Total $3,500 $1050 $2,460
b. Total amount posted / credited to accounts payable= $( 620+2,460 + $170 + 250) = $3500
Total amount from and debited from Office supplies = $(610 + 170+ 250) = $1050
What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?
$ __170____ ie $ 610 + 170 - 610( because invoice on April 4th was paid on April 27th.
