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Vikentia [17]
2 years ago
6

Which of these statements is most accurate regarding mortgage payments through the life of your loan?

Business
1 answer:
OverLord2011 [107]2 years ago
3 0
The correct answer is A.
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A price maker is
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D. a firm that has some control over the price of the product it sells
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Which of the following users of accounting information are interested in the quality of a company assets?
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Answer:

D

Explanation:

Well public is all about quality

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Costs and benefits that should be ignored when making decisions are called ______ costs and benefits.
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The first step in making a choice is to define the issue at hand. When making judgments, related costs and benefits should be evaluated. When making judgments, extraneous costs and advantages should be overlooked.

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The Jamesway Corporation had the following situations on December 2021.On December 10, 2021, Jamesway received a $4,000 payment
hjlf

Answer:

Date    Particulars                                       Debit            Credit

           Deferred Service Revenue A/c     $4,000

                     To Revenue A/c                                           $4,000

            (Being Revenue recognized)

          Advertisement Expense  A/c           $2,600

                  To Prepaid Advertisement A/c                      $2, 600

          (Being expense recognized)

           Employees Salaries A/c                  $16,000

                  To Outstanding Employees Salaries A/c      $16,000

           (Being expense & liability recorded)

           

             Interest expense A/c                      $1,600

                           To Interest Liability A/c                            $1,600

             (Being Interest expense & Liability for the

               month September to December recorded)

Assumptions & Working notes:-

i) Since service is performed in the same financial year revenue is transferred from deferred revenue account to revenue account.

ii) Since 20 advertisements shown in the month of December only so expense related to those 20 is recognized in the month of December and remaining in the month of January.

$5,200/40*20 = $2,600

iii) Since salaries are paid in month of January but this is the expense for the month of December we recorded above entry.

iv) Interest Expense for months September to December is recorded and corresponding liability is created.

($60,000 * 8%) / 12 * 4 = $ 1,600

6 0
3 years ago
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