Answer:
$0
Explanation:
Data provided in the question
Borrowed amount from the bank = $90,000
Annual interest rate = 8%
Maturity date = March 31, 2019
Since it is mentioned in the question that, the interest and the principal were paid in cash on the maturity date so for the amount of cash that Abardeen had to pay for 2018 interest would be zero as the principal and the interest is paid for 2018
Answer:
D) Establish the mission, vision, and values statements
Explanation:
A mission statement is a short written description of what is the purpose of your company, or why does it exist. The mission statement usually includes the company's capabilities, what unsatisfied needs will the company satisfy, and activities will be carried out to satisfy their customers' needs.
The mission statement is the cause (before) and the vision statement is the effect (after). The vision statement should describe the long term goals that your company should accomplish. It serves as a guide to where you want to be in the future.
The value statements should describe how Jordan values his own business (including employees), his customers (including the community) and his suppliers. The values statements serve as a guide on how Jordan and his employees should behave within the business.
Answer:
Utility expense Dr. $200
Accounts payable Cr. $200
(To record the entry for electric expense)
Explanation:
Given the amount of the invoice = $200
The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.
Thus, below is the entry as on 30th November.
Utility expense Dr. $200
Accounts payable Cr. $200
(To record the entry for electric expense)
Answer: Continuous innovation
Explanation: Continuous innovation as the name suggest, means the ongoing process of innovation on a particular product or industry with slight changes in each and every stage.
The minor innovations in the latest technology overtime is called continuous innovation. Automobile and mobile phones sector are industries depicting continuous innovation.
Answer:
Date General Ledger Debit Credit
May 24 Accounts Receivable-Old Town Café $18,450
Sales $18,450
Cost of goods sold $11,000
Inventory $11,000
Sept. 30 Cash $6,000
Allowance for Doubtful Accounts $12,450
Accounts Receivable-Old Town Cafe $18,450
Dec. 7 Accounts Receivable-Old Town Cafe $12,450
Allowance for Doubtful Accounts $12,450
Cash $12,450
Accounts Receivable-Old Town Cafe $12,450
