Answer:
The Journal entry is as follows:
On December 31, 2021
Interest Receivable A/c Dr. $147
To Interest revenue A/c $147
(To record the interest receivable)
Working notes:
Interest Receivable:
= Amount received × Annual rate of interest × Time period
= $3,600 × (14% ÷ 12) × 3.5
= $3,600 × 0.01167 × 3.5
= $147
Answer:
a. True
Explanation:
Since small business has lesser processes and paper work as compare to the larger organizations where formal procedures are in placed
Answer:
a. $34,900
Explanation:
The computation of the cost of direct material used is shown below:
= Opening balance of raw material + purchased materials - ending balance of raw material
= $10,300 + $34,400 - $9,800
= $34,900
Hence, the correct option is a.
The Graeter's proprietors utilized the four elements of generation to fabricate the business after some time. The four components are arrive, work, capital, and business enterprise. The land is utilized on the grounds that they based the underlying start-up of the organization through their own particular home. They didn't utilize any cash attempting to set up their business.
Answer:
C
Explanation:
The consumers associated the saying with the Doritos brand.
