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Gnom [1K]
3 years ago
14

On december 1, watson enterprises signed a $24,000, 60-day, 4% note payable as replacement of an account payable with erikson co

mpany. what is the journal entry that should be recorded upon signing the note?
Business
1 answer:
avanturin [10]3 years ago
4 0
<span>The given data shows that Watson Enterprises signed a $24,000, 60-day, 4% note payable as replacement of an account payable with Erikson Company. Below are the journal entries that should be recorded upon signing the note: 1.Debit Accounts Payable $24,000 2.credit Notes Payable $24,000.</span>
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If the prepaid rent account before adjustment at the end of the month has a debit balance of $2,800, representing a payment made
vampirchik [111]

Answer:

$2,100

Explanation:

Data provided in the question

Prepaid rent account before adjustment at the end of the month = $2,800

And, the monthly rent is $700

So, the amount of prepaid rent after adjustment is

= Prepaid rent account before adjustment at the end of the month - the monthly rent

= $2,800 - $700

= $2,100

Basically we deduct the monthly rent from the prepaid rent balance before adjustment

7 0
3 years ago
The _______ has developed privacy principles for its members to impose constraints upon themselves in order to not infringe on t
Neporo4naja [7]

The answer is organization.

<h3>What is the organization?</h3>
  • An organization is a group of people who cooperate, such as a firm, neighborhood association, charity, or union. The term "organization" can describe a person, a group, a company, or the process of creating or developing anything.
  • For instance, a corporation, a club, a charity, or a political party. According to an International Labour Organization report, the majority of these specialist schools are offered by nonprofit groups. Synonyms: group, company, party, body Additional words for the organization
  • The organization includes task alignment with respect to the company's ultimate aim and the division of labor among personnel. It can also be referred to as the second-most significant managerial activity, coordinating employee efforts, acquiring resources, and fusing the two in support of organizational objectives.
  • The four primary types of business entities are the LLC, the corporation, the partnership, and the sole proprietorship. Each of them is described in more detail below, along with how it relates to company law.

The organization has developed privacy principles for its members to impose constraints upon themselves in order to not infringe on the rights of the consumers.

To learn more about organization, refer to:

brainly.com/question/19334871

#SPJ4

3 0
2 years ago
Which is an example of a document that needs to be saved for financial planning?
sesenic [268]
The right answer for the question that is being asked and shown above is that: "d. Grocery store receipt." an example of a document that needs to be saved for financial planning is that of a Grocery store receipt.<span>
</span>
4 0
3 years ago
A long-term partnership correlates with health and happiness throughout adulthood and late adulthood. For most people, then, ___
Aloiza [94]

Answer:

Commitment

Explanation:

It can be defined as an agreement to do something in the future. It is a relationship among two or more people which is based on a mutual and agreed commitment to one another and includes trust, honesty, love. The different forms of committed relationships are close friendship, marriage, and civil unions.

5 0
3 years ago
A machine would cost $100,000, and would generate revenues of $21,000 per year. However, O&amp;M costs would be $7,000 per year.
fgiga [73]

Answer:

(a) What is the net present value of this potential investment?

Net present value of Investment is $(3,903)

(b) Should you invest in this machine?

We should not invest in this investment because Net present value of this investment is negative by discounting Minimum acceptable rate of return.

Explanation:

Present Values:

Revenue                    $144,146

O&M Cost                  ($48,049)

Initial Investment      <u>$(100,000)</u>

Net Present value     $(3,903)

Working :

Present Value Calculation = P x ( (1- ( 1 + r )^-10) / r

Revenue = $21,000 x ( (1- ( 1 + 0.075 )^-10) / 0.075 = 144,146

O&M Costs = $7,000 x ( (1- ( 1 + 0.075 )^-10) / 0.075 = 48,049

8 0
3 years ago
Read 2 more answers
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