Answer:
Dr. Depreciation Expense Account $8,200
Cr. Accumulated Depreciation $8,200
Explanation:
Depreciation is the expense that is charged from the fixed assets to the revenue. All the depreciation of the fixed asset are accumulated in a account of accumulated depreciation, which is contra asset account. the assets are reported on the balance sheet net of accumulated depreciation.
Answer: See explanation
Explanation:
The general journal entries necessary to adjust the interest accounts at December 31 will be:
1. December 31:
Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102
Credit: Interest payable = $102
(To accrue interest expenses for the note issued on November 10).
2. December 31:
Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120
Credit: Interest payable = $120
(To accrue interest expenses for the note issued on December 1)
3. December 31:
Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67
Credit: Interest payable = $36.67
(To accrue interest expenses for the note issued on December 20).
When a nation's currency appreciates that means there is an increase in the exchange rate. It would result to cheaper imports and lower inflation rates which would be advantageous to those countries who are importing goods. While a weak currency would be better for an economy that's exporting goods to other countries.
Answer:
The statement is: True.
Explanation:
Private goods are those that individuals own and are destined to use for their use only. The owners have all rights on their properties up to the limits the local government imposes. Public services are those given to all individuals freely and can be used simultaneously or once at the time.
<em>The increase of private goods usually tends to demand for more public services societies must be intake care of.</em>
Prime rate is (a) the best interest rate that banks offer their most creditworthy customers.
A prime rate is decided by the bank to lend money to its customers where the credit giving is decided on the basis of the credit history and points on the customers formally known as the credit rate of investment.
It totally depends upon the allowance of credit by financial institutions and then the payment made by the loan taking customers within a stipulated time frame.
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