Answer:
D. Debit Accounts Receivable $7,344; credit Interest Revenue $144; credit Notes Receivable $7,200.
Explanation:
Interest: $7,200 × .06 × 120/360 = $144
The entry that Majesty should record on the maturity date for this dishonored note is :
Debit Accounts Receivable $7,344
Credit Interest Revenue $144
Credit Notes Receivable $7,200.
I cant help you, i dont know what the statements are.
Answer: D
Explanation:
Not necessarily. As long as the company follows GAAP (IFRS or ASPE), the format and information should be the same. This is because the accounting standards requires firm to report financial information in a specific way.
Answer: Puresource Pharma would have to reduce it's cost
Explanation:
Horizontal integration could be defined as the merge between two or more companies that carry out similar functions or market in production.
Puresource Pharma would have to reduce it's cost of product and either sell below or same cost as their acquired company's product. This would help promote her market and would give a monopoly for them for the market for both of them.
