Answer:
Dr. Cr.
Purchases / Inventory $11,000
Promissory Note Payable $11,000
Explanation:
Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.
In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.
This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.
Answer:
A. True
Explanation:
In order to be on student council, you must already know how to lead. Student council isn't you learn to lead. It's meant to show others how to lead.
Answer:
False
Explanation:
In the initial period, the prepaid expenses should be recorded in the assets hand side of the balance sheet under the current asset column
But when some adjustments are made regarding this in terms of gains or expenses incurred, the same should be presented on the income statement
Hence, the given statement is false as it is recorded in the assets only during the initial period
Answer:
Ks = 4%+6% = 10%
Explanation:
so we need to remember that tax rate doesn't affect Cost of equity
in this case the formula will be:
cost of equity is equal to=dividend yield+Growth rate or Ks = D1/P + g
Camp Company's expected dividend yield ( D1) is 4%
growth rate is 6%
SO we get Ks = 4%+6% = 10%
Answer:
b. performing an experiment in an economic system.
Explanation:
In contrast to scientific experimentation, whereby connections and differences can be measured between two or more variables. In economics, theory and observation are more difficult than in sciences such as physics due to the difficulty in performing an experiment in an economic system, as human beings' opinions change over time, due to dynamism in human society.
Hence, in this case, the correct answer is option
