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Tutor profile: Scott B.

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Scott B.
Accounting Graduate From Top Three Accounting School
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Questions

Subject: Microsoft Excel

TutorMe
Question:

What formula would you use to extract information from a vertical data set?

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Scott B.
Answer:

VLookup

Subject: Finance

TutorMe
Question:

If you were to invest $5,000 today in a security that has 3% annual interest with interest paid yearly how much would you have in five years?

Inactive
Scott B.
Answer:

$5,796.37 PV of investment: $5,000 I/YR: 3% N: 5 years FV: (this is what we solved for)

Subject: Accounting

TutorMe
Question:

What is the proper journal entry to record $50 cash paid for loan interest expense?

Inactive
Scott B.
Answer:

The proper entry for cash paid on loan interest expense would be: debit to Interest expense for $50 and credit to cash for $50. DR: Interest Expense $50 CR: Cash. $50

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