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2 years ago

First Rentals purchased office supplies on credit. The general journal entry made by First Rentals will include a:

1 answer:

5 0

The general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.

<h3>How are office supplies on credit recorded?</h3>

Office supplies on credit means office supplies bought on credit by the firm.

In conclusion, the general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.

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The current highest interest rate on a savings account is 1.85%. the current rate of inflation is 1.9%. what is the real dollar

adoni [48]

Answer: 0.51

Explanation:

Nominal rate = 1.85%

Inflation rate = 1.90%

Real rate of return = (1 + nominal rate / 1 +inflation rate) - 1

Real rate of return = ((1 + 0.0185) / (1 + 0.019)) - 1

= (1.0185 / 1.019) - 1

= 0.9995 - 1 = - 0.0005

Therefore, the real dollar return I. $1,020 equals

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$Economic profit = Revenue - Explicit cost - Implicit Cost$

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While, implicit cost include the 7% interest foregone on the $5000 savings and the salary foregone ($40,000) by choosing to startup a business than take up the job.

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natali 33 [55]

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Answer:

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3 years ago