Answer:
Entry is given below
Explanation:
As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.
Entry DEBIT CREDIT
Notes payable $600,000
Interest $36,000(w)
Cash $636,000
Working
Interest = $600,000 x 8% x9/12
Interest = $36,000
Answer:
If Nathan's additional injuries were severe, then Sam is probably liable for negligence.
Explanation:
There is no law that forces someone to help another person in peril, you have the legal obligation to call for help (usually 911), but your obligation ends there. If you decide to help someone, then you are responsible for that person's well being and must exercise reasonable care. Even if you are not a properly trained rescuer, you have the obligation to not make the victim worse. If Nathan's health suffered due to Sm's negligence, then Sam is liable to him.
This is a reason why you have to think twice before assisting someone in peril since once you decide to be a rescuer, then you are liable for any bad consequences that may occur. For example, if you are trying to help someone out of a car after an accident, an that person's leg or arm is broken in the process, then you may be liable for it.
The Gross domestic product (GDP) is $9000
<u>Explanation:</u><u>
</u>
Consumption = Sean purchase of the laptop from the US company = 1500
Investment = 0
Government purchases = 0
Imports = Mushashi order = 50 into 30 = 1500
Exports = Textbook sales = 200 into 45 = 9000
Net Exports = Exports - Imports = 9000 - 1500 = 7500
The Gross domestic product (GDP) = C + I + G + NX = 1500 + 0 + 0 + 7500 = 9000
The estimated cost of ending inventory using the gross profit method is $30,600 based on the inventory data from the question above. First, you have to find the cost of good sold from by subtracting the net sales by the gross profit ($29,400=$49,000-40%*$49,000). Then you can use the cost of good sold formula to find the ending inventory's cost ($30,600=$18,000+$42,000-$29,400).
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