Answer:
cash 55,110,929 debit
note payable 55,110,929 credit
--to record singing of promissory note with discounted interest--
interest expense 1.583.741,77 debit
note payable 1.583.741,77 credit
--to record accrued interest on note payable --
Explanation:
the note plus interest will be for 60 millions.
So to calcualte the isuance ofthe note we must calculate the present value of a lump sum at 12% discount rate:
Maturity 60,000,000.00
time 0.75
rate 0.12
PV 55,110,929.18
then at December 31th we solve for the accrued interest:
Principal 55,110,929.18
time 0.25 (3 months over 12 month a year)
rate 0.12000
Amount 56,694,670.95
accrued interest: 56,694,670.95 - 55,110,929.18 = 1.583.741,77
This entry will inappropriately decrease Jackson’s revenues, thus making the firm’s net income too low on its income statement, ending retained earnings too low on its retained earnings statement, and both its assets and its stockholders’ equity too low on its balance sheet.
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I don't really understand the question.. Sorry if this doesn't help!
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To complete the measurement process, companies need to update balances of assets, liabilities, revenues and expenses for changes created by adjusting entries.
<h3 /><h3>What is adjusting entry?</h3>
An adjusting entry is the entry that is posted after the posting of all the journal entries for a period, all the transactions are posted and then at the end of the period the adjusting entry is recorded.
The adjusting entry balances and effects the balance of the assets, liabilities, revenue and expenditure at the end of the period.
Adjusting entry is also posted when the reversing effect of the journal entry is to be posted and this results in the change of the account balances of assets and liabilities of the company.
The balance sheet and income statement is prepared after the posting of journal and adjusting entries.
Learn more about adjusting entry at brainly.com/question/27274229
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Answer:
option B
Explanation:
Progressive muscle recovery (PMR) is a method of controlled breathing which has been used successfully to manage stress and fear, ease depression and alleviate the symptoms of some forms of severe pain. Progressive relaxing of a body is based on a simple process of clenching, or contracting, one muscles class at a time caused by a recovery period of stress release.
Throughout the 1930s, Edmund Jacobson defined the methodology of incremental muscle relaxation and is focused on his theory that psychological quietness is a necessary result of brain relaxation. Nearly everyone can know about gradual muscle relaxation which needs just 10 minute to 20 minutes of training per day.