Adjusting entry on December 31 with a debit to Interest receivable and credit to Interest Revenue for the interest generated in December.
<h3>
What is an Adjusting entry?</h3>
- Adjusting entries and journal entries used in accounting and accounting to assign income and expenditure to the period in which they actually occurred.
- They are often made at the end of an accounting period. Under accrual-basis accounting, the revenue recognition principle serves as the foundation for adjusting entries related to unearned and accrued revenues.
- Because they are done on balance day, they are occasionally referred to as balance day adjustments.
- Revenues and related costs are recorded in the same accounting period according to the matching concept of accrual accounting.
- The actual money, however, can be received or paid at a separate period.
<h3>What is Interest receivable?</h3>
- The amount of interest that has been earned but has not yet been paid out in cash is known as interest receivable.
- Many organizations won't record this number because they believe it to be irrelevant.
Therefore, it will record an Adjusting entry on December 31 with a debit to Interest receivable and credit to Interest Revenue for the interest generated in December.
Know more about Interest receivables here:
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In order to find the average, divide the total cost which is $135,000 by the number of fans 9,000.. your answer would be $15.00 per person.
Answer: 25,200 pounds
Explanation:
Your question is incomplete as it lacked the first part. I attached a completion that I found.
The company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs.
This means that in August, the Opening inventory will be 30% of what was is needed in August and the Closing Inventory will be 30% of what is needed in September.
Remember that each cushion requires 2 pounds of foam as stuffing.
Pounds required in August
= 12,000 cushions * 2
= 24,000 pounds
Opening Stock
= 30% * (12,000 * 2)
= 7,200 pounds
Closing stock
= 30% * ( 14,000 * 2)
= 8,400 pounds.
Foam needed to be purchased in August = Pounds required tonbe produced + Closing Stock - Opening Stock
= 24,000 + 8,400 - 7,200
= 25,200
25,200 pounds of foam are what The Porch Cushion Company needs to purchase in August.
Answer:
Longard Corp.
The money that Longard Corp. receives is:
= $75 million.
Explanation:
a) Data and Calculations:
Number of shares issued = 5 million
Investment bank underwriter pays per share to Longard Corp = $15
Stock price to the public = $20 per share
Total amount received from the underwriter = $75 million ($15 * 5 million)
b) The calculations show that the investment bank will eventually receive $100 million ($20 * 5 million) from the public offer. It then charges $5 per share (representing a total underwriting fee of $25 million). This is why it remits only $75 million to Longard Corp.
The scope of practice regulations for <u>Nurse Practitioners (NP)</u> should be reconsidered.
Across the states, there is substantial variation in the
scope of practice permitted to NP’s. Some states allow NP’s to provide care
independently without the need for physician collaboration or supervision, while
other states do not allow NP’s to do so. Thus there is a great need to align
the regulations set for NP’s.
