Answer:
No net affect: There is both an increase in Assets and a decrease in Assets
Explanation:
The journal entry is as follows
Inventory Dr $2,000
To Cash $2,000
(Being the inventory is purchased for cash is recorded)
This journal entry states that the inventory is purchased for cash. The inventory is purchased that increases the asset and on the other side the cash is paid for the purchase of increased which decrease the asset
So, there is no impact on the asset side or accounting equation
Given:
<span>MAY 8 - Crump company purchased $1,850 worth of inventory on account from Payne industries ; the terms were 3/15, n/eom.
MAY 9 - Crump also paid freight charges of $95
Payne granted crump a $150 purchase allowance
MAY 17 - Payment in full
Debit Credit
May 8.
Purchases 1,850
Accounts Payable 1,850
May 9
Freight-In 95
Cash 95
Accounts Payable 150
Purchase returns and allowance 150
May 17 - Payment goes beyond the discounting period. No discount is given.
Accounts Payable 1,700
Cash 1,700
(1,850 - 150 = 1,700)
</span><span>"3/15, n/eom" This means that Crump can avail 3% discount when it pays on the 15th of the month and n discount when it pays at the end of the month. </span>
Answer:
Explanation:
a. Dr Cash 5,376,150
Cr Premium on bonds payable 376,150
Cr Bonds payable 5,000,000
b. Dr Interest expense 322,569
Dr premium on bonds payable 2431
Cr Cash 325,000
c. Dr Interest expense 322,423
Dr Premium on bonds payable 2577
Cr Cash 325,000
d. Dr Interest expense 322,269
Dr premium on bonds payable 2731
Cr Cash 325,000
Answer:
The correct answer is letter "E": human relations skills.
Explanation:
Human relations skills are a set of abilities people show while interacting with others. Those skills include assertive communication, empathy, stress management, and conflict resolution. Most leaders are requested to have this profile of personality for effective and efficient managerial practices.
