1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nikolay [14]
3 years ago
15

Deere company holds a​ $10,000 note receivable dated july​ 1, 2015, with​ 10% interest. what adjusting entry is needed on decemb

er​ 31, 2015?
a. no entry is needed.
b. debit interest receivable for​ $500 and credit interest revenue for​ $500
c. debit interest receivable for​ $1,000 and credit interest revenue for​ $1,000
d. debit interest receivable for​ $100 and credit interest revenue for​ $100
Business
1 answer:
Ket [755]3 years ago
7 0
<span>b. debit interest receivable for​ $500 and credit interest revenue for​ $500
</span>
You might be interested in
A company acquires a 25% investment in another corporation. The reporting of this investment depends primarily onThe percentage
balu736 [363]

Answer: The degree of influence that the investor has over the investee.

To report this investment within the company's financial statements, according to IFRS, they depend into two options:

  1. Stock control: An entity controls a business when it is exposed or has rights over earnings and has the ability to affect these results through its power in the business.
  2. Minority percentage: The acquirer recognizes in their books an uncontrolled participation and in this case, no decisive decisions can be made.

3 0
3 years ago
Drum buffers are:
maks197457 [2]

Answer: Extra safety that is applied to a project immediately before the use of the constrained resource.(D)

Explanation:

Drum buffer can be explained as period of time that is used to safeguard the drum resource from the problems that occur from the drum operation.

The aim of the drum buffer effect is to provide a recheck of the work in order not to deviate from the real aim of the project. The buffer makes up for the process variation, and makes the project stable as it gives extra safety which is applied mmediately before using constrained resource.

6 0
3 years ago
Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income
soldi70 [24.7K]

Answer:

B. Cost of goods sold will be too low by $5,000.

Explanation:

Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.

4 0
3 years ago
According to the video, which tasks do Urban and Regional Planners perform? Check all that apply.
Anit [1.1K]

Answer:

Wat

Explanation:

4 0
3 years ago
Read 2 more answers
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance acc
Darina [25.2K]

Answer:

Insurance $4,800 (debit)

prepaid insurance $4,800 (credit)

Explanation:

In order to find out adjusting entries. firstly, we need to calculate the difference between prepaid insurance account and Insurance account.

That could be done by subtracting $3,550 from $8,350.

Difference = 8350-3550= 4800

6 0
3 years ago
Other questions:
  • The ultimate source of an organization's culture is Group of answer choices A. Its top management Its environment B. The country
    10·1 answer
  • On December 31, Year 1, Jet Co. received two $10,000 notes receivable from customers in exchange for services rendered. On both
    11·1 answer
  • Preferred stockholders: A. have the right to receive dividends only if there are enough dividends to pay the common stockholders
    5·1 answer
  • The High Towers Center is a 300-room hotel that was built ten years ago for a total project cost of $24,000,000. The market valu
    10·1 answer
  • Cash $207,200 Salaries and wages expense (sales) $318,080 Inventory 599,200 Salaries and wages expense (office) 387,520 Sales re
    15·1 answer
  • The following information is available for Marin Inc. for three recent fiscal years. 2022 2021 2020 Inventory $565,000 $572,000
    11·1 answer
  • Last year, Alfred earned $5,000, Betty earned $50,000, and Charlie earned $500,000. If they all pay a 35% tax on all their incom
    10·1 answer
  • Differentiate between the planning, organizing, leading, and controlling functions of management. ​
    7·1 answer
  • 6. What are complements? evonomics
    10·1 answer
  • Stitch Fix is an online personal styling service that was founded in 2011. This company combines computer algorithms with human
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!