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4 years ago

Cory issued a note to his creditor in exchange for an account. Cory records the transaction by debiting

2 answers:

Taya2010 [7]4 years ago

3 0

The answer is D. a debit to accounts payable and a credit to notes payable. This is because Cory issued a note to his creditor as a promise that he will pay the creditor. With this, he will be gaining a Notes Payable, or a promissory note stating that he will pay, and will be losing an Accounts Payable. So according to the rules of accounting, if a liability is debited, then it will be lessened from the books of the business. If a liability is credited, however, then it will be added to the records of the business.

LiRa [457]4 years ago

3 0

The correct answer is letter C. Accounts Payable and Crediting Notes Payable.

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_____ allow you to save money by having others prepay for your expense.

Elodia [21]

Prepaid cards/gift cards allow you to save money by having others prepay for your expense. Gift cards and repaid cards serve the same purpose essentially. Both are prepaid and preloaded by someone else (or you) and given to you so that your expenses are covered. This helps people save money since they aren't using their own funds.

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3 years ago

How do firms in monopolistic competition compete? Firms in monopolistic competition compete in three areas, which are _______

Mamont248 [21]

Answer:

The correct answer is option A.

Explanation:

Monopolistic competition refers to the market structure where there is a large number of buyers and sellers in the market. These sellers sell heterogeneous or differentiated products in the market.

The firms are price makers and face a downward-sloping demand curve. There is a high degree of competition in the market due to product differentiation. That is why there is little difficulty in an entry into the market.

Because of product differentiation, the firms advertise their products in order to gain market share. So the existing firms in the market compete in quality, price, and marketing.

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3 years ago

RedEx Shipping determined the rate to apply overhead based on direct labor hours would be $5.40, and based on machine hours woul

Vlad [161]

Answer:

Manufacturing cost= $92.5

Explanation:

Giving the following information:

Predetermined overhead rate= $4.2 per machine hour

Job 664:

2.5 machine hours

$26.00 of direct materials

4 hours of direct labor for $14 per hour.

To allocate overhead, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 4.2*2.5= $10.5

Now, the manufacturing cost:

Manufacturing cost= 10.5 + 26 + 4*14

Manufacturing cost= $92.5

6 0

3 years ago

Tatsuo has just been awarded a four-year scholarship to attend the university of his choice. The scholarship will pay $9,000 eac

a_sh-v [17]

Answer:

Value of scholarship today = $30,484.90

Explanation:

The value of the Scholarship is the present value of the annual payment of $9,000 discounted as the annual interest rate of 7% per annum.

This can be computed using the formula below

Present Value = Annual cash flow × (1- (1+r)^(-n)/r)

n -number of years, r-interest rate

rate r- 7%, n=4, Annual cash flow = 9,000

Present Value = 9,000× (1-1.07^-4)/0.07

= 9,000× 3.3872

= $30,484.90

Value of scholarship today = $30,484.90

4 0

3 years ago

Anna loves adidas apparel for its style and comfort. she is in need of running pants and purchases a pair with the adidas logo.

dybincka [34]

This is a decision is a limited decision because it's something that's not routinely bought but also not extensive (as in very high priced that you would consult several people about). Anna might do a bit of research about the brands of running pants and realize Adidas is the brand for her.

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3 years ago