A company paid Jen Rogers, its sole stockholder, a total of $18,000 in dividends during the current year. The entry needed to close the dividends account is: Multiple Choice Debit Retained earnings and credit Dividends for $18,000. Debit Dividends and credit Retained earnings for $18,000. Debit Income Summary and credit Cash for $18,000. Debit Income Summary and credit Dividends for $18,000. Debit Dividends and credit Cash for $18,000

When selecting a savings account, you should look at the following factors except annual percentage yield (apy) fees minimum balance interest thresholds taxes paid on the interest variable interest rates

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

Which of the following would be an accurate statement about achieving a balanced budget