amount of an original one-time deposit to make into an account

Q: Simple interest applies when interest is earned _____________. a. on interest b. in a serious of…

A: Interest is the value provided or paid for the sum borrowed. If the company has made certain…

Q: Identify which one of the following is a document issued by an individual to his or her bank,…

A: Instrument issued by the pay for operating the payment and receiving settlement. There are many…

Q: Rent paid in advance will be deducted from:

A: Solution: Rent paid in advance is prepaid rent  for which expense will be recognized in future when…

Q: How to prepare the journal entry for the reclassification of long-term notes payable to current…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Discuss the conversion from cash to accrual basis of an increase in accounts or notes receivable

A: In cash basis accounting the transactions are recorded when the cash related to them is issued or…

Q: How will the lender of the promissory note record the note on its books? as an expense as revenue…

A: Revenue: This is the income of a firm during an accounting period. The income is recognized as and…

Q: A cash paid for a borrowing made earlier affects which of the following accounts? a. Cash and Notes…

A: Solution- Once you pay the full amount due, your account is paid in full. You have effectively…

Q: What is a key difference between a short-term note payable and a current portion of a noncurrent…

A: Short term note payable is a debt which is required to be paid within a period of less than one…

Q: Multiple Choice Questions Which of the following items decreases the balance in the accounts…

A: Accounts receivable: It can be defined as an asset on the company’s balance sheet that reflects the…

Q: What items are listed on a loan document

A: There are various kinds of loans that an individual can take from a bank or a financial institution.…

Q: Reconciling Items per Bank - Outstanding Cheques For a bank reconciliation, how would one account…

A: Bank reconciliation is a statement prepared to reconcile the differences in balance in cash account…

Q: How did you calculate the note payable long term for xi

A: Notes Payable are defined as the long-term liabilities that represent the amount to be paid by the…

Q: Discount on note receivable is: Group of answer choices the amount of total interest earned as of…

A: Discounting on bills receivable or note receivable means pledging to pay before the maturity date.…

Q: Which of the following reports tracks past-due bills and bills that are due shortly? Profit & Loss…

A: A crucial accounting document known as accounts payable aging report compiles a summary of the bills…

Q: In writing off accounts receivable being worthless under the allowance method the entry

A: Write-off refers to deduction of a certain amount from accounts receivable, when it becomes…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: Which is the correct action to reconcile the bank statement for a Bank service charge? OA) Add to…

A: Explanation of each item are provided as below : A. Added to Book Balance :  In Bank reconciliation,…

Q: The journal entry to record accrued interest on a short-term note payable includes a debit to: A.…

A: Accrued interest is the interest that is accrued over the period.

Q: For what items may a lender require escrow accounts from a borrower?

A: Escrow account is the third party account in which securities or assets are kept until the…

Q: how to calculate the year-end adjustment for Allowance for Uncollectible Accounts with a debit…

A: Uncollectible amounts from client accounts are referred to as bad debts. Accounts receivable suffers…

Q: Funds in a ____ must remain on deposit for a stated time period in order to avoid an interest…

A: Deposit is a fixed amount of money invested in a bank or in some financial institutions in which…

Q: Which of the following is an example of a deferral? O Interest earned on a bank account O A…

A: The deferred revenue and expenditures are the amount of revenue and expenses that would be recorded…

Q: Which account in the bank helps the customers to deposit and withdraw when they need it? a. Savings…

A: Introduction: Banks: Banks accepts deposits from customers and gives loans to who are needed. It…

Q: 1.Recording the borrowing of money for which a note is signed involves. Pass the journal entry?

A: Any transaction, whether it occurs offline or online, must be completely and accurately documented…

Q: Bramble Corp. provides at no extra charge a two-year warranty with one of its products, which was…

A: Some of the company selling product also offers a warranty with it. The warranty expenses refers to…

Q: ccrued interest recomputed periodically individual who does not record interest transactions?

A: Interest expense : associate degree disbursal is that the value incurred by Associate in Nursing…

Q: Amount of money borrowed or invested on the origin date.

A: Initial Investment - Owner of the organization either borrowed money or invested their own fund to…

Q: How did you calculate the deposits and checks outstanding

A: The deposit which are deposited by  company on last date of month may not be reflected the in bank…

Q: When transferring money from the regular checking account to a special purpose payroll account which…

A: A checking account, also known as a transactional or demand account, is a type of bank account that…

Q: Is the following statement true or false? The deposits or payments are made at the end of the period…

A: Annuity is the fixed amount of investment, payment or deposit which is made at regular intervals.…

Q: To get net purchase the Freight -in deduct from the purchase in the income statement O True O False

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: funds in a must remain on deposit for a stated time period in order to avoid an interest penalty

A: The question is based on the concept of Financial analysis

Q: To record interest earned but not yet received, payee must accrued interest Debit Interest…

A: As per the accrual method of accounting, the income that is earned but not received till the end of…

Q: Identify whether the account is an ASSET, LIABILITY, EQUITY, REVENUE or EXPENSE. 1. Unremitted sales…

A: Asset: An asset is a resource with economic value that an individual or company controls with the…

Q: What is the impact of writing off a $500 account under the allowance method on Net Realizable Value?

A: Solution: Under the allowance method of uncollectible accounts, bad debts expense are recognized…