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sashaice [31]
3 years ago
10

The journal entry to record the purchase of equipment for a $220 cash down payment and a balance of $640 due in 30 days would in

clude Multiple Choice a debit to Equipment for $220 and a credit to Cash for $220. a debit to Equipment for $860, a credit to Cash for $220, and a credit to Accounts Payable for $640. debit to Equipment for $860 and a credit to Cash for $860. a debit to Equipment for $220 and a credit to Accounts Payable for $640.
Business
1 answer:
IrinaK [193]3 years ago
6 0

Answer:

a debit to Equipment for $860, a credit to Cash for $220, and a credit to Accounts Payable for $640.

Explanation:

The complete journal entry to record the purchase of the equipment would be:

Dr Equipment 840

    Cr Cash 200

    Cr Accounts payable 640

Since the balance is due in 30 days, it will be recorded as accounts payable.

The cost of the equipment = $200 cash down payment + $640 debt = $840

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Many employees get a reality shock on their first day at work because ____.
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C. newcomers test how well their preemployment expectations fit reality and many companies fail this test.

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The reason why many employees are shocked by reality on the first day of work is that pre-employment expectations are adjusted to reality and often the job does not meet the expectations that have been created.

To reduce this phenomenon, it is ideal that new employees have realistic expectations about the company and the function they will perform, taking their doubts through research and interviewing the recruiter, having a more realistic view of what they can find at work and managing your expectations.

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Jerome Corporation's bonds have 15 years to maturity, an 8.75% coupon paid semiannually, and a $1,000 par value. The bond has a
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An increase in government spending raises income: a. and the interest rate in the short run, but leaves both unchanged in the lo
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An increase in government spending raises income (B) in the short run, but leaves it unchanged in the long run, while lowering investment.

<h3>What is government spending?</h3>
  • All government purchases, investments, and transfer payments are included in what is known as government spending or expenditure.
  • Government final consumption spending is defined in national income accounting as the purchase by governments of goods and services for immediate consumption, to primarily meet the individual or collective needs of the community.
  • Government investment is defined as the purchase of goods and services by the government with the intention of generating future benefits, such as infrastructure investment or research spending (government gross capital formation).
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Therefore, an increase in government spending raises income (B) in the short run, but leaves it unchanged in the long run, while lowering investment.

Know more about investments here:

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