Give the journal entries. Paid insurance premium, 3,000. The business borrowed money from a bank worth 500,000.
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Give the
Paid insurance premium, 3,000.
The business borrowed money from a bank worth 500,000.
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- Outstanding checks of $12,000. Bank service charge of $15. Deposit in transit of $2,300. Interest earned of $5. How would I complete the journal entries for the four activities aboveA bank deposit of $4,000 was made one year ago in one of the local banks which gives a monthly interest. The account accumulates now to $4,392.60. What was the interest given?7. On April 1, Michael Reeves deposited a refund check for $240.85 in a savings account at Northern Savings and Loan Association. At the end of December the interest was computed at an annual rate of 6,%. How much simple interest did Michael's money earn? On April 1 you opened a savings account at Main Street Savings Bank with a Simple interest did your money earn? what waS VOur ew balange?
- A local branch of Gamestop, Inc., deposited $12,500 in a savings account on July 3 and then deposited an additional $3450 in the account on August 5. Find the balance on October 1 assuming an interest rate of 3.5% compounded daily.* $16,977.25 $10,677.25 $16,077.25 Other:2. On April 1 Kendrick opened a savings account at a bank that paid 3.55 $1,000. On April 20 he withdrew $500. On April 30 the bank calculated the daily percent interest. His initial deposit was $3,200. On April 9 he deposited another interest. a) How much simple interest did his money earn? b) How much was in the account after the bank calculated the daily interest on April 30?Customer check for 45,000 sent to the bank was recorded by the company as 54,000 .a Add in the books $9,000 .b Add in the bank $9,000 .C Deduct from the bank $9,000 .d Deduct from the book $9,000
- 6. Jasper Brown deposited $743.20 in a savings account at the Suburban Trust Com- pany on May 1. At the end of July his interest was computed at an annual rate of 7%. How much simple interest did Jasper's money earn? 7 On April 1 Michael Reeves deposited a refund check for $240.85 in a savings Ccount mbenthe smple interest did Michael Sount at Main Street Savings Bank with a waran ann ual rate of 69% and addedoteA Company borrowed money from a local bank. The note the company signed requires five annual installment payments. of $16, 500 beginning immediately. The interest rate on the note is 7%. What amount did the company borrow? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)Continue using the journal and journalize the following transaction: Mar. 31. Received bank statement showing March bank service charge, $30.00. M45.
- Below you will see SOME (not all!) of UPS' transactions in their most recent fiscal year. Provide the journal entry or entries (accounts and amounts) needed to record each transaction. a) Borrowed $5,205 million cash from a bank by signing a note payable. Account Title Debit CreditCustomer check for 45,000 sent to the bank was recorded by the company as 54,000 .a Add in the books $9,000 .b Add in the bank $9,000 .c Deduct from the bank $9,000 .d Deduct from the book $9,000 أخل اختياريA bank has deposits of $400. It holds reserves of $50. It has purchased government bonds worth $70. It has made loans of $500. Set up a T-account balance sheet for the bank, with assets and liabilities, and calculate the banks net worth.