Answer and Explanation:
The journal entries are shown below:
On Jan 1
Cash $340,000
Bonds payable $340,00
(Being the bond payable is issued for cash)
For recording this we debited the cash as it increased the assets and credited the bond payable as it also increased the liabilities
On Dec 31
Interest expense ($340,000 × 8%) $27,200
To Cash $27,200
(Being the interest expense for year 1 is recorded)
For recording this we debited the interest expense as it increased the expenses and credited the cash as it decreased the assets
On Dec 31
Interest expense ($340,000 × 8%) $27,200
To Cash $27,200
(Being the interest expense for year 1 is recorded)
For recording this we debited the interest expense as it increased the expenses and credited the cash as it decreased the assets
Answer:
$300,000
Explanation:
Calculation for How much in sales does Vaughn need to break even per year
Using this formula
Sales needed to break even=Fixed cost/(1-Unit selling price Variable costs)
Let plug in the formula
Sales needed to break even=$30,000 / (1 -.9)
Sales needed to break even=$30,000 / (0.1)
Sales needed to break even=$300,000
Therefore How much in sales does Vaughn need to break even per year will be $300,000
Answer:
Here is a sample of the most common marginalized groups:
GLBT.
Senior citizens.
Racial/Cultural minorities.
Military Combat Veterans.
Persons of below average intelligence.
Hearing, visually, and Physically Challenged Persons.
Persons with a serious and Persistent Mental Illness (SPMI)
Persons with Cognitive Impairments.
Answer:
The price level and GDP will fall.
Explanation:
A decline in money supply will increase the interest rate, as a result the investment will decline. This will cause production to decrease. An increase in tax will cause the cost of production to increase, reducing the supply. The taxes will decrease the disposable income, further reduing demand and cnsumption. A pessimistic expectation of business will also cause production to decline.
A rise in the value of dollars will make exports expensive, reducing exports. All of this will cause the GDP and price level to decline.
Answer:
The answer is: C) $14,000
Explanation:
ABC Tax Planning Services paid six months of rent in advance, from January to July. It spends $7,000 per month on rent, so the six months prepaid rent would be $42,000. On April 30, 2018, ABC had already rented the offices for 4 months, so it had only two months left in its Prepaid Rent account, equivalent to $14,000 (2 x $7,000).
