Assume that Eve’s Fantastic Tutoring paid a part-time tutor $60 for her three-hour service that she provided today. This transaction would: decrease assets and increase liabilities. increase assets and increase liabilities. decrease assets and increase expense. increase liabilities and increase expense.
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Assume that Eve’s Fantastic Tutoring paid a part-time tutor $60 for her three-hour service that she provided today. This transaction would:
-
decrease assets and increase liabilities.
-
increase assets and increase liabilities.
-
decrease assets and increase expense.
-
increase liabilities and increase expense.
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- Give typing answer with explanation and conclusionSuppose a man took out a 30-year loan with an annual rate of 6% to put an addition on his house. His banker encouraged him to put other expenses into the loan if he wished, so he increased the loan in order to purchase furniture, a new car, and a computer. Suppose the computer cost $1,200. Assume that the loan is an add on loan to calculate parts a. and b. a. What was the amount of interest that he paid on the computer part of his loan? b. What was the total cost of his computer? a. The total interest is $ (Simplify your answer.) (CCS)Suppose a man took out a 30-year loan with an annual rate of 7% to put an addition on his house. His banker encouraged him to put other expenses into the loan if he wished, so he increased the loan in order to purchase furniture, a new car, and a computer. Suppose the computer cost $1,500. Assume that the loan is an add on loan to calculate parts a. and b. a. What was the amount of interest that he paid on the computer part of his loan? b. What was the total cost of his computer? a. The total interest is $ (Simplify your answer.)