on august 1, a $31,200, 7%, 3-year installment note payable is issued by a company. the note requires equal payments of principal plus accrued interest of $11,888.81. the entry to record the first payment on july 31 would include:
Answers
Based on the information provided, the entry to record the first payment on July 31 would contain a $2,184.00 Debit to Interest Expense.
What is the journal entry?A journal entry is a well record of a financial transaction that is kept in the books of accounts of the company. Every transaction requires at least two journal entries in double-entry bookkeeping.
The appropriate journal entry to record the first payment on July 31 based on the information given is given in the image below.
Therefore, the journal entry is given in the image below.
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Related Questions
a monopoly is a market structure that is characterized by
Answers
Answer:
Definition: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. ... All these factors restrict the entry of other sellers in the market.
Explanation:
Hope it helps
Which are guidelines for using Themes?
Check all that apply.
A. Using different cell styles can help you differentiate different types of data.
B. Fonts should be easily readable and of appropriate size.
C. You cannot customize the default themes.
D. Be consistent with themes across worksheets and workbooks.
E. Applying a new theme will only change cells in a workbook that have no other formatting applied.
Answers
Answer:
I think it's D. or A. or B. but I mostly think it's D. Be consistent with themes across worksheets and workbooks
Statements that explains the guidelines when using a Theme are: A. Using different cell styles can help you differentiate different types of data.
B. Fonts should be easily readable and of appropriate size.
C. You cannot customize the default themes.
WordPress theme can be regarded as a group of files, these file can contains graphics, style sheets as well as code, which will give overall appearance of a blog or website.In using this, we can follow some guidelines such as; making use of more than a cell can help in differentiatiation of different types of data, default themes cannot be customized, and the selection of fonts should be made carefully.Therefore, option, ABC are correct.
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Q09: Business Processes include which of the following? Workflow Controls Timing, Time Fences All choices Data Objectives
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Business processes include workflow controls, timing, time fences, data objectives .Workflow Controls Timing, Time Fences All choices Data Objectives
Business processes refer to the systematic series of activities or steps that organizations undertake to achieve specific objectives. These processes encompass various elements, including workflow controls, which involve defining and managing the flow of tasks and information within the organization. Timing is crucial in business processes as it involves scheduling activities and ensuring they occur at the right time. Time fences are predetermined points in time that establish deadlines or limits for specific activities or decisions. Data objectives involve defining the desired outcomes and goals related to data management and utilization within the business processes.
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how much would you cost to have a good night
Answers
Answer:
as much as i need
Explanation:
What are the top three types of sole proprietorships and percentages?
Answers
Independent Contractor. ...
Franchise.
which of these transactions types increase how much you owe the credit card company
Answers
Answer:
hope it is helpful to you
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Frank is an employee of guitar makers, llc. guitar's employee manual states that workers, such as frank, will be dismissed only for good cause. with respect to the employment-at-will doctrine, this is
Answers
Answer: An exception based on contract theory.
Explanation:
Contract theory is an agreement reached by two parties over a set of deal to be entered, these negotiation met guides what the agreement is all about, violators of the agreement would attract extra bodies(Law makers) to come into their decision. At Ilc, if the guitar producers only release their workers based on good cause, it's seen as a contract theory, based on what both parties agreed.
Which multimedia and interactive elements do you think would best support your viewpoint on the topic you chose for your blog? Write two to four sentences explaining what multimedia and interactivity you will use and why.
Answers
Answer:
I will use images and details from credible websites, which will boost my own credibility and support my claim. I will also use charts and graphs from trusted web resources, such as government and university sites, to make my supporting evidence clear
Explanation:
I took the test
Brainiest???
The Use of videos, audios, and images in the blog will not only make it attractive but also make it credible.
Best Way to Write BlogTo write a credible and attractive blog we need to use multimedia such as videos, images, link of credible websites. We can also use other elements which can autocorrect grammer mistakes, can easily provide best charts and graphs.
The use of these elements can give a better outlook to our blog, and also create a sense of trust and credible information.
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duruskan en altay 2019: china in djibouti: global partner or neo-colonial master?
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China in Djibouti is seen as a global partner, but some view its influence as neo-colonialism . The country has invested heavily in infrastructure and its military presence in the country has sparked concerns about its intentions..
China's investment in Djibouti, a small African country located at the mouth of the Red Sea, has sparked a debate about the nature of its relationship with the country. On one hand, China has invested heavily in infrastructure projects, including ports, roads, and airports, which has helped to boost the country's economic growth. On the other hand, its military presence in the country has raised concerns about its intentions, leading some to view China as a neo-colonialism power. The country has been accused of exploiting resources and exerting undue influence over the country's political and economic systems, leading to concerns about its impact on national sovereignty. Critics argue that China's investments come at a cost to the country and its people, and that it is engaging in a form of neo-colonialism in which it seeks to control and exploit the resources of other countries for its own benefit.
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explain aims of accelerated growth initiative for South Africa
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If a firm borrows $1 using short-term liabilities and puts the money in cash, holding all other things equal,
the current ratio will increase
the current ratio will decrease
the current ratio will move closer to one
the current ratio will move away from one
it is not possible to know what will happen to the current ratio
Answers
If a firm borrows $1 using short-term liabilities and puts the money in cash, holding all other things equal, the current ratio will decrease.
The current ratio is calculated by dividing current assets by current liabilities. It measures a company's ability to pay off its short-term obligations. When the firm borrows $1 using short-term liabilities and holds the money in cash, the current liabilities increase by $1 due to the borrowed amount. However, the current assets remain the same since the borrowed money is simply held in cash. As a result, the current ratio decreases.
The current ratio is affected by the relationship between current assets and current liabilities. By increasing the current liabilities without a corresponding increase in current assets, the ratio is negatively impacted. In this case, since the borrowed money is not utilized for investments or generating additional current assets, the ratio moves away from one, indicating a reduced ability to cover short-term obligations. Therefore, when a firm borrows money using short-term liabilities and holds it in cash, the current ratio decreases.
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Accounts receivable arising from sales to customers amounted to $120,000 and $105,000 at the beginning and end of the year, respectively. Net income reported on the income statement for the year was $457,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
Answers
Answer:
Cash flow from operating activities $472,000
Explanation:
The computation of the cash flows from operating activities to be reported on the statement of cash flows is given below:
Beginning account receivable $120,000
Add: net income $457,000
less: ending account receivable -$105,000
Cash flow from operating activities $472,000
7. Which of the following statements relating to the cash basis of accounting is incorrect? Select one: a. The cost of goods and services consumed in the current period, but not paid for, are recognised as expenses in a later period when cash is paiD. b. It is used by small business entities and professionals who conduct most of their business activities in cash. c. It is considered to be a suitable method of accounting for governments. d. Income is recorded in the period in which the cash is receive D.
Answers
It is considered to be a suitable method of accounting for governments.
The correct option is c.
The cash basis of accounting is the accounting method in which transactions are only recorded when cash is received or paid out. The primary benefit of cash basis accounting is its simplicity. In terms of tax planning, it can be an excellent tool for small businesses, particularly sole proprietorships, to reduce tax liabilities because you only need to pay taxes on income when you have received it.
It is not necessary to pay taxes on money you have yet to receive, so in certain situations, you may be able to hold off billing customers or clients until after the end of the year to minimize your tax bill.The cost of goods and services consumed in the current period, but not paid for, are recognized as expenses in a later period when cash is paid, and income is recorded in the period in which the cash is received.
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Luis, a professional chef, has carefully developed a set of product attributes for his new line of seasoning mixes, such as the brand name, features/design, and quality level. Luis is developing the.
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For his new product of seasonings mixes, Luis, a trained chef, has meticulously designed a set of product characteristics, including the brand name, functionality, and quality rate. Luis is developing the actual product.
What is a product?An intangible marketing strategy that is employed to call for a business and its products or one of its many market segments can be described as a brand. It basically functions as a signal that the client can use to explain the goods.
As Luis has a whole plan which is justified and all the things are ready for it then he's starting a new product line that will help in developing the product, product characteristics, as well as the marketing strategy and brand name, which will be implemented. Thi8s is an actual product development.
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when a company borrows money from a bank and signs a formal written contract that specifies the amount borrowed, the date it must be repaid and the interest rate, the company will debit cash and credit
Answers
When a company borrows money from a bank and signs a formal written contract, the company will debit cash and credit a liability account.
When a company borrows money from a bank and enters into a formal written contract, it is essentially receiving funds that need to be recorded in its financial statements. The company will debit the cash account, which represents an increase in the company's cash balance as it receives the loan proceeds.
On the other side of the transaction, the company will credit a liability account. This liability account represents the company's obligation to repay the borrowed funds to the bank. The credit to the liability account reflects an increase in the company's debt or borrowings.
By debiting the cash account and crediting a liability account, the company properly records the borrowing transaction in its accounting records. This ensures that the increase in cash and the corresponding increase in liabilities are accurately reflected in the company's financial statements, providing a clear picture of its financial position and obligations to repay the loan.
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The securities and exchange commission is responsible for ______. multiple choice question. preparing a prospectus regulating various stock exchanges ensuring companies are tax compliant listing stock transactions on the nyse
Answers
Answer:
regulating various stock exchanges
Explanation:
Which of the following is not an example of a multichannel retailer?
A. Abercrombie & Fitch
B.McDonald's
C.Target
D.None of the above
Answers
Answer:
mcdonalds!!!!
Explanation:
!its right trust me those ppl who commented above are wrong, i put it in on od and it was right! on god bro.
Which of the following correctly describes an internal control component?(1) Control activities set the tone of the organization.(2) Information and communication systems have to do with management's analysis of risk.(3) Risk assessment relates to assessing the quality of the internal control structure over time.(4) Monitoring relates to ongoing assessment by management to determine whether controls are operating as intended.
Answers
Monitoring relates to ongoing assessment by management to determine whether controls are operating as intended. Among the options provided, option (4) correctly describes an internal control component.
Monitoring refers to the process of ongoing assessment conducted by management to ensure that the established controls within an organization are functioning as intended.
Internal control is a system implemented by an organization to safeguard its assets, ensure the accuracy and reliability of financial reporting, and promote compliance with laws and regulations. It consists of various components that work together to achieve these objectives.
Monitoring is a crucial component of internal control as it involves the regular review and evaluation of control activities. It allows management to assess whether the controls are operating effectively in mitigating risks and achieving the desired outcomes. This includes monitoring financial transactions, operational processes, and compliance with policies and procedures.
By conducting ongoing assessments, management can identify any deficiencies or weaknesses in the internal control system and take corrective actions promptly. This ensures that controls remain relevant and effective in addressing organizational risks.
Option (1) is incorrect as control activities refer to the policies and procedures implemented by management to mitigate risks and achieve objectives, rather than setting the tone of the organization.
Option (2) is also incorrect as information and communication systems pertain to the flow of information within an organization, including the gathering, processing, and dissemination of information, rather than management's analysis of risk.
Option (3) is incorrect as risk assessment involves identifying and evaluating risks to determine their potential impact on the achievement of organizational objectives, rather than assessing the quality of the internal control structure over time.
In summary, option (4) correctly describes an internal control component, with monitoring being the ongoing assessment by management to determine whether controls are operating as intended.
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What type of transactions should be recorded in the Payment, Fee, Withdrawal column
of your check register?
Answers
what group sold its time warner stock following the ice-t body count cd release? group of answer choices nea madonna philadelphia municipal pension fund now
Answers
Following the release of the ice-t body count CD, the Philadelphia Municipal Pension Fund Group sold its Time Warner stock.
General Information About Philadelphia Municipal Retirement System Description
Located in Philadelphia, Pennsylvania, the Philadelphia Municipal Retirement System is a public pension fund. Through the management of 18 distinct plans created from 1915 to the present, it provides benefits to police, fire, and civilian employees of the City of Philadelphia. The Board of Pensions and Retirement is responsible for administering it.
With the help of a cutting-edge and effective retirement system, the City of Philadelphia caters to this requirement of its employees. In addition to the Social Security and retirement systems that cover all officers and employees, this scheme gives you, the professional City employee, a monthly retirement income for life.
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Green Company incurred $5,000 of accrued expenses during Year 1, but paid the cash associated with the payables in Year 2. Based on this information alone, under accrual accounting, the company would report a net loss of ______.
Answers
Answer:
net loss of $5,000 and cash outflow from operations of zero in Year 1
Explanation:
The accrual basis refers to the recording of the transactions when it is provided not when the cash is received
Since the accrued expenses is incurred for $5,000 in the year 1 but the cash is paid in the year 2
Based on the accrual accounting, the company would report a net loss for $5,000 and there is an outflow of cash that arise from the operations for the year 1
Therefore the same is to be considered
what is revision?hey
Answers
Answer:
The action of revising
Explanation:
Acel Co. uses the allowance method to account for bad debts. In January, Acel determined that it could not collect $400 from CTR, Inc. and wrote the balance off. On October 21, Acel received a check for $400 from CTR. The entries to record the receipt of cash on October 21 would include a debit to:_____.
a. Accounts Receivable.
b. Accounts receivable is debited to reinstate"tbecac&unt.
c. Allowance for Doubtful Accounts.
d. Bad Debt Expense.
Answers
Based on the fact that CTR, Inc sent a check to Acel Co, there will be a debit to b. Accounts receivable is debited to reinstate the CTR account.
Which account will be debited?The Accounts Receivable account will be debited by the Allowance for Doubtful Accounts to bring back the written off debt.
The Account Receivable account will then be credited to cash to account for the cash being received.
In conclusion, option B is correct.
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Mary Delany, owner of Delany Salsas, is curious to know whether the new packaging for her line of salsas is being noticed by supermarket consumers. Accordingly, she ventures out to the local supermarket and passively watches the reactions of shoppers as they pass by one of the many Delany Salsas displays. Mary Delany is collecting ____ data through ____ methods.
Answers
Answer:
primary/observational
Explanation:
The primary data may be defined as the data or the information that is collected by the researcher or the experimenter directly from the subjects through any interviews or surveys. It is a first hand information or data collected directly from the source.
In the context, Mary Delany is collecting or gathering the data which is considered as a primary data through an observational methods. The data collected by Mary is primary because she collected the data first hand directly by visiting the local supermarkets from the customers.
And the method of gathering data is observational as she collected data by observing the people or the customers coming to the supermarkets and not by interviewing them.
So, the answer is primary/observational.
What is the main function of a business?
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Write the function of commercial bank in points.(don't copy)
Answers
Explanation:
Functions of Commercial Bank:
1=Acceptance of deposits from public.
*Demand deposits.
*Fixed deposits.
*Saving deposits.
2=Advancing of loans.
*Direct loans.
*Money at call.
*Overdraft.
*Discounting bills of exchange.
if you want to know more u can ask me.
_____ are stories about a person’s life written by that individual.
Directories
Biographies
Autobiographies
Encyclopedias
Answers
Biographies is a book written by the individual
Hope this helps *smiles*
Answer: Autobiography
Example: The person above has to be a troll fr
Note: Attempt any ONE question.
(1 x 20 = 20)
Q3. From the following particulars prepare a Treble Column Cash Book of Ahsan Trading Co.:
2013
May 01: Cash in hand Rs. 42,500 and at bank Rs. 50,000.
May 03: Purchased goods for cash Rs. 8,000.
May 06: Deposited into bank Rs. 6,500
May 07: Sold goods for cash Rs. 17,000 and amount is deposited into bank.
May 08: Sold goods to Farhan on credit Rs. 10,000.
May 10: Received from Farhan a cheque for Rs. 9,800 in full settlement of his account.
May 12: Paid Farhan's cheque into bank.
May 15: Paid salaries Rs. 5,000 by cheque.
May 18: Paid by cheque to Azhar Rs. 4,900 and discount received Rs. 100.
May 21: Withdrew cash Rs. 4,500 for personal use.
May 24: Goods sold to Kamran for cash Rs. 15,000.
May 26: Paid advertising expenses Rs. 900.
Answers
Answer:
WHats the question. Please let me know as soon as possible
Explanation:
how does product variety affect the level of inventory a retail store must carry? which one is false? question 2 options: higher variety means smaller quantity for each product product variety is not related to inventory costs product variety is inversely related to the physical inventory carried at the store for each individual product with higher product variety, there is significant risk of a) left-over inventory, which will lead to mark-downs, or b) lost sales
Answers
Product variety impacts the level of inventory required by a business. Offering a wider range of products can lead to increased inventory holding costs, higher risk of stockouts, longer lead times, and increased complexity of inventory management.
How does product variety affect the level of inventory?Product variety can have a significant impact on the level of inventory in a business. When a business offers a wider range of products, it typically requires a larger inventory to accommodate the different products and variations in product demand.
The following are some ways in which product variety can affect inventory:
Increased inventory holding costs: As the number of products offered by a business increases, the amount of inventory required to meet demand for each product also increases. This can result in higher inventory holding costs, as more warehouse space, labor, and other resources are needed to manage the increased inventory levels.Increased risk of stockouts: When a business offers a wider variety of products, it becomes more challenging to accurately forecast demand for each individual product. This can lead to stockouts of popular items, which can result in lost sales and dissatisfied customers.Increased lead times: When a business offers a wide variety of products, it may need to source materials and components from a larger number of suppliers. This can result in longer lead times for receiving inventory, which can increase the level of safety stock required to maintain adequate inventory levels.Read more about product variety
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when comparing two mutually exclusive projects of equal life, the capital budgeting evaluation technique that always identifies the best project is:
Answers
For initiatives that are mutually incompatible, the project with the greater IRR should be chosen.
What is a mutually exclusive Project?
It is argued that capital projects that compete with one another are mutually exclusive. If management must decide specifically between finishing either project X or Y, and not both of them at once, then the two projects are said to be mutually exclusive. The choice to export to another nation may be viewed as an autonomous endeavor.
This chance should be taken if it has a positive NPV. On the other side, initiatives that are mutually exclusive are not eligible for selection. In other words, the others are immediately dismissed if one is chosen. It is argued that capital projects that compete with one another are mutually exclusive. They are mutually exclusive when they cannot take place at the same time. mutually beneficial gatherings. When two events may take place at the same time, they are mutually inclusive.
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