Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 01, 2024

On 2 June 2019, Alice invested $25,000 into a 60-day term deposit with Bank at an interest rate of 2.50% per annum. Interest totalling $102.74

On 2 June 2019, Alice invested $25,000 into a 60-day term deposit with Bank at an interest rate of 2.50% per annum.

Interest totalling $102.74 will be paid by the bank on maturity 60 days later (ie. 31 July 2019).

What is the adjusting journal entry as at 30 June 2019?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Michael Parkin

6th Edition

0321112075, 9780321112071

More Books

Students also viewed these Accounting questions

Question

★★★★★

The 2007 financial statements for The Walt Disney Company can be found on the Internet. Locate those financial statements and consider the following questions. 1. What inventory valuation method does...

Answered: 1 week ago

Question

★★★★★

What is meant by a support level for a stock or a market average? When might a support level exist?

Answered: 1 week ago

Question

★★★★★

A military aircraft that carries n bombs shoots against a target until the target is destroyed or the aircraft runs out of bombs. The probability a bomb finds the target is p1, while the probability...

Answered: 1 week ago

Question

★★★★★

Record the transactions in E6A in the general journal. In E6A a. Collin Ferdinand opened Ferdinand Repair Service, Inc., by investing $8,600 in cash and $3,200 in repair equipment in return for...

Answered: 1 week ago

Question

★★★★★

for experiment : calibration of air flow rate (1) In this experiment, it is assumed that the vertical height difference is ignored for Venturi and orifice plate, but the actual flowmeter device is...

Answered: 1 week ago

Question

★★★★★

Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the...

Answered: 1 week ago

Question

★★★★★

New Bedford Company manufactures laptop computers. They are considering buying the hard drives for the laptops rather than manufacturing them. The costs to manufacture the hard drives for each laptop...

Answered: 1 week ago

Question

★★★★★

After invoicing a regular customer, PaintPros realizes that it billed the customer for prep work that was supposed to be free per the estimate. How should a credit memo be created for this customer?...

Answered: 1 week ago

Question

★★★★★

The 9-percent-coupon-rate bonds of the Melbourne Mining Company have exactly15 years remaining to maturity. The current market value of one of these $1,000-parvaluebonds is $700. Interest is paid...

Answered: 1 week ago

Question

★★★★★

23. Question 23 Adventure Works recently launched a new product, and the sales data is pouring in. You decide to visualize this data using scatter plots to understand the purchase patterns across...

Answered: 1 week ago

Question

★★★★★

Why is it crucial to adhere to the six-step financial planning process for comprehensive financial management? Question 24 options: Because everyone else does For clarity of your services and...

Answered: 1 week ago

Question

★★★★★

=+2. What do they like better about its competition?

Answered: 1 week ago

Question

★★★★★

=+1. What do they like about your product (the one you're advertising)?

Answered: 1 week ago

Question

★★★★★

=+a. What kind of personality does the brand have?

Answered: 1 week ago

Previous Question Next Question