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
Y_Kistochka [10]
3 years ago
10

On January 1, 2019, Brooks, Inc., borrows $90,000 from a bank to purchase machinery. Brooks signs a 5 percent installment note r

equiring four annual payments of principal plus interest.
Required:
Complete the necessary journal entry
Business
1 answer:
klasskru [66]3 years ago
7 0

Answer:

A Journal entry for Brooks Incorporation on January 1, 2019 which is shown below

Explanation:

Solution

Given that:

           JOURNAL ENTRY FOR BROOKS INCORPORATION

Date               General Journal Debit Credit

Jan 01 2019                Cash        90000

                               Notes Payable          90000

Thus

A Journal entry was recorded for Brooks Incorporation.

Here, the cash of $90,000 was recorded at the debit side of the Journal.

While the notes payable of $90,000 was also recorded on the credit side

You might be interested in
_____ would be most likely to help you develop a 4 plan.
11111nata11111 [884]
THE SMALL BUSINESS ADMINISTRATION would be most likely to help you develop a business plan.

Every businesses start small. When it comes to starting and running a small business, available sources include small business administration, industry associations, blogs, and websites.  
8 0
3 years ago
The three important elements of a​ firm's business model are its target​ market, its basis for​ differentiation, and its​ ______
wlad13 [49]

Answer:

SEGMENTATION

Explanation:

The important elements involved of a firms business model are its TARGET market basis for differentiation and it segmentation these three elements involved results into important elements of a business model.

6 0
3 years ago
Cost of direct materials used in production for a manufacturing company
Taya2010 [7]

Answer:

hush puppies and u a who dis yah

7 0
3 years ago
Dawn Swift discovered that 20 years​ ago, the average tuition for one year at an Ivy League school was​ $15,000. Today, the aver
KATRIN_1 [288]

Answer:

C. 7.18%

Explanation:

Formula for calculating growth rate

= (Current amount/initial amount) ^ 1/n - 1

Given that

Initial amount = 15000

Current amount = 60000

n = 20

Therefore,

Growth rate = (60000/15000)^1/20 - 1

= (4)^1/20 - 1

= 1.07177 - 1

= 0.07177

To percentage we multiply by 100

So,

= 0.07177 × 100

= 7.177%

Approximately

= 7.18%

7 0
3 years ago
The long-run industry supply curve is the graphic representation of the quantity of output that the industry is prepared to a. s
Arisa [49]

Answer: d. supply at different prices after the entry and exit of firms is completed.

Explanation:

The industry supply curve simply shows the relationship that exist between the price at which a good is sold and the industry's total output.

The long-run industry supply curve simply refers to the graphic representation of the quantity of output that the industry is prepared to supply at different prices after the entry and exit of firms has been completed.

At the long-run industry supply curve, it depicts the locus of price and the output produced in that industry as each firm aims to maximize profit.

6 0
2 years ago
Other questions:
  • Veltri Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.77 direct labor
    9·1 answer
  • I want to know what is the correct thing to invest into
    12·1 answer
  • Match the scenarios with the economic concepts they illustrate.
    9·2 answers
  • Asset management ratios Asset management ratios are used to measure how effectively a firm manages its assets, by relating the a
    8·1 answer
  • Acme Enterprises just bought a new manufacturing machine. Which of these costs should be capitalized? (Check all that apply.)
    15·1 answer
  • Antitrust laws are designed to create _____ competition in the marketplace.
    9·2 answers
  • a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective int
    14·1 answer
  • Your company has an opportunity to invest in a project that is expected to result in after-tax cash flows of $7,000 the first ye
    7·1 answer
  • Many___expectations of good customer service are the same, but we must still treat each customer as an individual.
    7·1 answer
  • Leadership as a behavior is different from viewing leadership as traits, abilities, and skills because behaviors can be ______.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!