Coco Riley had a checkbook balance of $2,100.45 . Her bank statement showed an ATM withdrawal of $120.00 that she had not recorded and a $22.00 service fee. What should be the balance in her checkbook?
a. $1,958.45
b. $2,078.45
c. $2,198.45
d. $1,980.45
a
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The exempt or nonexempt status of employees is determined by
A. the National Labor Relations Board. B. the Secretary of Labor. C. the Office of Programs and Budgets. D. the U.S. Department of Labor.
A disruptive technology produces an improved product customers are eager to buy, such as a faster car or larger hard drive.
Answer the following statement true (T) or false (F)
On July 1, Shady Creek Resort borrowed $430,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30 of $64,083. What is the journal entry to record the first annual payment?
A. Debit Interest Expense $34,400; debit Notes Payable $29,683; credit Cash $64,083. B. Debit Cash $430,000; debit Interest Expense $64,083; credit Notes Payable $494,083. C. Debit Interest Expense $34,400; debit Interest Payable $29,683; credit Cash $64,083. D. Debit Interest Expense $64,083; credit Cash $64,083. E. Debit Interest Expense $34,400; credit Cash $34,400.
Indicate whether each of the following statements is true or false.________ a) Loaning cash to another company is considered a financing activity on the statement of cash flows.________ b) The major difference between treating the extension of credit to a customer as accounts receivable and treating it as notes receivable is the existence of interest.________ c) In a promissory note, the payee issues the note to the maker.________ d) Interest rates are always stated on an annual basis, regardless of the length of the note.________ e) Accruing interest on a note receivable is considered an asset use transaction.
What will be an ideal response?