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3 years ago

PLEASE HELP ASAP!!!! CORRECT ANSWERS ONLY PLEASE!!!!

Business

2 answers:

sweet-ann [11.9K]3 years ago

7 0

<span>Credit that is automatically renewed as debts are paid off.</span>

bixtya [17]3 years ago

4 0

Revolving credit is credit that is renewed as your debts pay off.
Credit cards are a good example of this.
Therefore, the answer should be the last choice: Credit that lets the borrower choose how much credit to use, and when to pay it.

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When recording depreciation, which of the following statements is true?

professor190 [17]

Answer:

D. None of the above are true.

Explanation:

As while recording depreciation, the total assets is decreased and the stockholder equity is also decreased as depreciation is a contra asset account

In the side of stockholder equity, the net income, the retained earning and the stockholder equity is decreased

whereas, the total asset is decreased as the amount of asset is reduced by deducting the accumulated depreciation amount

The journal entry is shown below for better understanding

Depreciation Expense A/c XXXXX

To Accumulated Depreciation XXXXX

(Being depreciation expense is recorded)

5 0

3 years ago

A firm producing good y recently increased monthly production from 1,500 units to 2,000 units. this had no impact on the marke

solmaris [256]

The following that most strongly implied by this information is that at the current level of production, the firm is making a profit of $3000. Jake and Mathew will most likely agree on The firm should increase production from the current level. Mathew is assuming that no new firms enter the market in the short run.

6 0

3 years ago

An underpriced stock provides an expected return that is __________ the required return based on the capital asset pricing model

8_murik_8 [283]

An underpriced stock provides an expected return that is less than the required return based on the capital asset pricing model (CAPM).

<h3>What is capital asset pricing model?</h3>

The capital asset pricing model (CAPM) is a tool that helps to show how financial markets price securities is moving and help to determine expected returns on capital investments.

In this case, An underpriced stock provides an expected return that is less than the required return based on the capital asset pricing model (CAPM).

Learn more about capital asset pricing model at:

brainly.com/question/17219340

#SPJ1

3 0

2 years ago

Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's again

Neko [114]

Answer:

a) increased nominal GDP by $20,000, but left real GDP unchanged.

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Nominal GDP is GDP calculated using current year prices.

Real GDP is GDP calculated using base year prices.

Nominal GDP = 1000 × $12 = $12,000

Nominal GDP increased by $12,000 but real GDP remained unchanged because the same amount of pizzas was produced both years.

I hope my answer helps you

4 0

3 years ago

The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year:

drek231 [11]

Answer:

1. The journal entry records are the following:

1-jul year 1 Debit Credit

Cash $63,532,267

discount on bonds payable $10,467,733

bonds payable $74,000,000

31-dec year 1 Debit Credit

Interest expense $4,331,693

discount on bonds payable $261,693

Cash $4,070,000

31-dec year 1 Debit Credit

Income Summary $4,331,693

Interest expense $4,331,693

30-jun year 2 Debit Credit

Interest expense $4,331,693

discount on bonds payable $261,693

Cash $4,070,000

31-dec year 2 Debit Credit

Interest expense $4,331,693

discount on bonds payable $261,693

Cash $4,070,000

Income Summary $8,663,386

Interest expense $8,663,386

30-jun year 3 Debit Credit

Bond payable $74,000,000

Loss on redemption $7,940,961

Cash $9,420,961

discount on bonds payable $72,520,000

2. a. The amount of the interest expense in Year 1 is $4,331,693

b. The amount of the interest expense in Year 2 is $8,663,386

3. The carrying amount of the bonds as of December 31, Year 2 is $64,317,346.

Explanation:

First, to journalize the entry record for 1-jul of year 1 we have to calculate the discount on bonds payable as follows:

discount on bonds payable=$74,000,000-$63,532,267=$10,467,733

1. Therefore, journal for entry record for 1-jul of year 1 is:

1-jul year 1 Debit Credit

Cash $63,532,267

discount on bonds payable $10,467,733

bonds payable $74,000,000

To journalize the entry record for 31 decl of year 1 we have to calculate the cash as follows:

Cash=$74,000,000×11%×1/2

Cash=$4,070,000

Therefore, journal for entry record for 31-dec of year 1 is:

31-dec year 1 Debit Credit

Interest expense $4,331,693

discount on bonds payable $261,693

Cash $4,070,000

31-dec year 1 Debit Credit

Income Summary $4,331,693

Interest expense $4,331,693

To journalize the entry record for 30 jun of year 2 we have to calculate the cash as follows:

Cash=$74,000,000×11%×1/2

Cash=$4,070,000

Therefore, journal for entry record for 30-jun of year 2 is:

30-jun year 2 Debit Credit

Interest expense $4,331,693

discount on bonds payable $261,693

Cash $4,070,000

journal for entry record for 31-dec of year 2 is:

31-dec year 2 Debit Credit

Interest expense $4,331,693

discount on bonds payable $261,693

Cash $4,070,000

31-dec year 2 Debit Credit

Income Summary $8,663,386

Interest expense $8,663,386

Journal for entry record for 30-jun of year 3 is:

30-jun year 3 Debit Credit

Bond payable $74,000,000

Loss on redemption $7,940,961

Cash $9,420,961

discount on bonds payable $72,520,000

a. The amount of the interest expense in Year 1 is $4,331,693

b. The amount of the interest expense in Year 2= interest expense on bonds payable June 30+interest expense on bonds payable Dec 31=$4,331,693+$4,331,693=$8,663,386

3. The carrying amount of the bonds as of December 31, Year 2=Issue price of bonds-discount amortized

Discount amortized=$9,420,961- $261,693=$9,682,654

The carrying amount of the bonds as of December 31, Year 2=$74,000,000-$9,682,654=$64,317,346

7 0

3 years ago