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4vir4ik [10]
3 years ago
6

On April 1, 2021, the Electronic Superstore borrows $23 million of which $7 million is due in 2022. Show how the company would r

eport the $23 million debt on its December 31, 2021 balance sheet. (Enter your answers in dollars not in millions. For example, $7,000,000 rather than $7 million.)
Business
1 answer:
Serggg [28]3 years ago
4 0

Answer:

Long term liabilities is $23,000,000

Explanation:

                 Electronic Superstore

        Balance Sheet (Not Full) at December 31, 2021

Details                                                Amount ($)

Current liabilities                                     NA

Long-term liabilities                         <u>  23,000,000 </u>    

Total liabilities                                   <u> 23,000,000 </u>                  

Note that the $7 million will due in 2022  not in 2021. Therefore, this does not effect on the 2021 balance sheet entries.      

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The balance in the office supplies account on January 1 was $7,362, the supplies purchased during January were $3,421, and the s
Zigmanuir [339]

Answer:

d.$8,327

Explanation:

The computation of the amount used in the adjusting entry is shown below:

= Beginning balance of office supplies + supplies purchased - ending balance of office supplies

= $7,362 + $3,421 - $2,456

= $8,327

The adjusting entry is

Supplies expense $8,327

        To Supplies A/c $8,327

(Being the supplies expense is recorded)

For recording this transaction we debited the supplies expense as it increased the expense account and credited the supplies account as it reduced the asset account

7 0
4 years ago
Other factors that should be considered before the final decision is made​ are: ​(Choose all that​ apply.) A. What will be the e
Mars2501 [29]

Answer:

  • A. What will be the energy consumption of the new robotics.
  • C. Whether even better robotics may be available in a short while.
  • D. Whether there will be additional training necessary with the new robotics.

Explanation:

Factors that should be considered before a decision is made on purchasing or investing should include anticipated costs or the chance of the product being made obsolete such that new products may need to be bought.

The energy cost of the new robotics should therefore be considered along with the chance that there may be better robots in the future such that there may be a need to replace the robotics to be acquired.

Training cost should also be considered as this is very integral to using the robotics effectively.

Sunk costs should not be considered as they have already be expended and no decision will reverse them.

4 0
3 years ago
Explain how a factory assembly line is an example of specialization?
s344n2d4d5 [400]

Answer:It is

Explanation: because the line is divided in different sector. Each sector has specific operations, using specific tools and specific process. Each operation or group of operations must be done by employees or workers. Those worker also required specialized training.

3 0
3 years ago
Suppose that Cheryl's only assets are an automobile worth $10,000 and a checking account with a $5,000 balance. Her only liabili
melamori03 [73]

Answer:

Cheryl's net worth is;

c). $5,000

Explanation:

The net worth is the value of an individual taking into account all the individual's assets and liabilities. It is a holistic view on the value of an individual. It is also used to estimate the value of a company, corporation and even countries. It is one of the standard measures used to gauge an entity's wealth. The net worth can be calculated by taking the difference between assets and liabilities. An asset is anything of economic value that is owned by an entity while a liability is anything of economic value that is owed.

The following formula can be used to estimate Cheryl's net worth;

N=A-L

where;

N=net worth

A=assets

L=liabilities

In our case;

N=unknown to be determine

A=Automobile+checking account

Automobile=$10,000 and checking account=$5,000

A=10,000+5,000=$15,000

L=student loan+car loan

student loan=$2,000

car loan=$8,000

L=2,000+8,000=$10,000

replacing;

N=15,000-10,000=$5,000

Cheryl's net worth=$5,000

4 0
3 years ago
Which is acceptable when using powered tools?
melisa1 [442]

Answer:Option C

Explanation:

4 0
3 years ago
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