Answer:
The correct entry is d. Notes Receivable, Dame Company6,000 Accounts Receivable, Dame Company6,000
Explanation:
Note receivable is a written promise to get a specific amount of money at a chosen future date. In other words, a Notes receivable is an asset of Paper Company because it holds a written promissory note from Dame Company. Since Paper Company is receiving cash, it an asset (Asset means the possessions of a company). The note receivable is due within a year, and then it is a current asset on the balance sheet
In this question, Paper Company will debit it note receivable and credit it account receivable (amount owed by Dame Company) as shown on the journal below
General Journal Debit Credit
Notes Receivable—Dame Company $6,000
Accounts Receivable—Dame Company $6,000
<span>Correlation doesn't prove causation. Debbie's observation doesn't prove a relationship between oil prices and who wins the world series and therefore should not be included in any recommendation given to the oil company.</span>
Answer:
The issue price of the bonds is $ 473,171 .
Explanation:
The value of bond or issue price can be calculated by discounting all future cash flow using effective rate of retun. Detail calculations are given below.
Future Value = Redemption present value (RPV) + Present value of interest (PVI)
RPV = 500,000 (1+10%)^-10 = $ 192,772 -A
PVI = 22,500 * Annuity factor =$280,400-B
Future Value = A + B = $ 473,171
Annuity factor = (1- (1+i%)^-n)/i% = (1- (1+10%/2)^-20)/(10%/2) = 12.4622
Answer: b.$5,146.00
Explanation:
Social security tax rate is 6.20%, you would multiply $83,000 by 0.062 to get a total of $5,146