Answer and Explanation:
The journal entries are shown below:
On Jan 1
Cash $400,000
To Bonds payable $400,000
(Being the bond is issued for cash)
For recording this we debited the cash as it increased the assets and at the same time it increased the liabilities so the bond payable is credited
On July 1
Interest expense $14,000
To Cash $14,000
(Being the payment of interest is recorded)
The computation is shown below:
= $400,000 × 7% × 6 months ÷ 12 months
= $14,000
For recording this we debited the expenses as it increased the expenses and at the same time it decreased the assets so the cash is credited
On Dec 31
Interest expense $14,000
To Interest payable $14,000
(Being the accrual of interest is recorded)
For recording this we debited the expenses as it increased the expenses and at the same time it increased the liabilities so the interest payable is credited
Answer:
$2,250,000
Explanation:
The computation of the estimated next year sales is shown below:
= Sales last year at full capacity + Sales last year at full capacity × next year percentage × capacity percentage
= $2,000,000 + $2,000,000 × 50% × 25%
= $2,000,000 + $250,000
= $2,250,000
We simply applied the above formula so the correct estimated sales for the next year could come
Answer:
Explanation: Journal Entries for the sale.
DR: Bank/Cash. $800,000
CR: Sales. $783,000
CR: Warranty on sales. $17,000
Being sales of 200 color printers at $4,000 per piece.
DR: warranty expense. $330
CR: Warrant on sales. $330
Being actual expense incurred on warranty for year 2020
Answer:
B. Search engine
Explanation:
Search engine is a program that internet users uses in getting information from the world wide web on what is been searched for. The search engine uses key words from the search to locate websites where information concerning the subject could be found. Common examples of search engines includes Yahoo, Google and bing. By inputting "ty cobb" on his computer and getting back over 30 websites containing information on ty Cobb, Robert must have used a search engine.
