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Tutor profile: Beau F.

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Beau F.
Pursuing Dream to Become a College Professor
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Questions

Subject: Finance

TutorMe
Question:

You look at your credit card statement and it says "Interest is charged monthly at 1.25% of the unpaid balance." What is the EAR?

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Beau F.
Answer:

EAR=(1+i/n)^n -1 i=stated interest rate (.0125) and n=# of periods (12) EAR=(1+(.0125/12))^12 -1 EAR=.012572 EAR=1.2572%

Subject: Algebra

TutorMe
Question:

Solve the equation: 2(3x-2)-3(x-3)= -3(-2x-2)-5x+3

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Beau F.
Answer:

Step 1: Multiply the Factors: 6x-4-3x+9 = 6x+6-5x+3 Step 2: Group the Terms: 3x+5 = x+9 Step 3: Simplify 3x+5 = x+9 -x -x 2x+5=9 -5=-5 2x=4 x=2

Subject: Business

TutorMe
Question:

Accounting: ABC Company makes a prepayment of $1,800 in January 2017 for a 12 month lease. Prepare the journal entry to account for the Prepaid Rent in January, then prepare the adjusting journal entry to account for the month of February

Inactive
Beau F.
Answer:

January 2017 Dr: Prepaid Rent (Asset Increasing) 1,800 Cr: Cash (Asset Decreasing) 1,800 February 2017 Dr: Rent Expense (Equity Decreasing) 150 Cr: Prepaid Rent (Asset Decreasing) 150

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