Answer:
Year 1 = $387
Year 2 = $516
Explanation:
Loan has been granted on 1 April in Year 1 i.e. for a period from 1 April to 31 December = 9 months.
Interest for year 1 @6% = $8,600 X 
= $387
Interest for year 2 will be from 1 January to 31 December =
$8,600 X 
= $516
Therefore interest revenue to be reported by Rosewood Company will be as follows
Year 1 = $387
Year 2 = $516
Answer: See explanation
Explanation:
The journal entry to correct the errors is given below:
a. Dr Cash $8400
Cr Account receivable $8400
b. Dr Supplies $2500
Cr Office equipment $2500
Dr Supplies $2500
Cr Account Payable $2500
Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.
Answer:
D) The normal balance of an expense account is a credit.
Explanation:
We know that
The debit sections report assets and expenses side while sales, stockholder equity, and the liability side are reported in the credit section.
So as per the given options, the incorrect answer is D as expense account has a debit balance but the question it is given that the expense account has a credit balance that is totally wrong.
Answer:
The correct answer is B
Explanation:
Export is the term which is defined as the goods and the services which are produced in one country and the residents of the other country purchased or bought it.
In short, it means that produced domestically, and then sold it to the foreign country.
Under this situation, the world price of the steel is $1,000. And the Russia started to export the steel so, it will lead to exporting the steel and the price would be $1,0000.
