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liberstina [14]
3 years ago
12

West County Bank agrees to lend Drake Builders Company $400,000 on January 1. Drake Builders Company signs a $400,000, 6%, 6-mon

th note. The entry made by Drake Builders Company on January 1 to record the proceeds and issuance of the note is
a. Interest Expense... 6,000 Cash ,000 Notes Payable ,000
b. Cash ,000 Notes Payable ,000
c. Cash ,000 Interest Expense... 12,000 Notes Payable ,000
d. Cash ,000 Interest Expense... 12,000 Notes Payable ,000
Business
1 answer:
viva [34]3 years ago
6 0

Answer:

The answer is b.Cash ,000 Notes Payable ,000

Explanation:

The exact entry Drake Builders Company has to record in its accounting book for the proceeds received from the issuance of the note is:

1st January

Dr Cash                         400,000

Cr Note Payable          400,000

As at the time the note is issued, no interest expenses has been incurred, all the answer with Interest expenses can be eliminated.

In fact, interest expenses is only incurred and accrued during the lifetime of the note, based on the number of days the note is hold; that is, from the day the fund is lend out to Drake Builders Company; not on the day of issuance.

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Answer: A. Debit card

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4 0
3 years ago
A unit volume objectives for pricing should be used judiciously because higher volume goals can sometimes result in Blank______.
marissa [1.9K]

A unit volume objective for pricing should be used judiciously because higher volume goals can sometimes result in higher pricing. This is further explained below.

<h3>What is the pricing?</h3>

Generally, set the price for the goods or services to be exchanged.

In conclusion, When setting prices, a unit volume aim should be utilized with caution since volume objectives that are more ambitious may often lead to higher prices.

Read more about pricing

brainly.com/question/19091385

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8 0
2 years ago
The determination of the productivity of the inputs utilised in the manufacturing process is a critical component of management
Klio2033 [76]

The significance of Total product, Average product, and Marginal product is that they show how effective, and efficient a manufacturing process is.

<h3>How do these metrics show productivity?</h3>

Taking the labor component in production as an example, one can see the impact of these metrics.

The total product will show just how much goods and services in total that the given amount of labor was able to produce. This gives management an idea of the effectiveness of the labor in producing goods and services.

The average product then shows how efficient labor is because it gives an idea of the products produced per labor.

Marginal product is very important as well because it helps management to know when to stop hiring labor. This point will be the production level that sees the marginal product being less than the cost of hiring additional labor.

These three metrics are therefore important to management because they help to determine effectiveness, efficiency, and cost of production.

Find out more on marginal product at brainly.com/question/24698689.

7 0
2 years ago
ou believe that you can earn 2% more on your portfolio if you engage in full-time stock research. However, the additional tradin
oksian1 [2.3K]

Answer:

C. $12,000

Explanation:

additional earnigns for active management:

800,000 x 0.02% = 16,000

<em><u>expected  </u></em>active management cost:

800,000 x 0.5% = 4,000

net gain: 12,000

At most, we can spend 12,000 dollars.

Up to this point, the expense are cover by the additional return. bove this threshold the fund will incur in losses from the active management

8 0
3 years ago
Abby Mia wants to know how much must be deposited in her local bank today so that she will receive yearly payments of $18,000 fo
saveliy_v [14]

Answer:

$164,313.82

Explanation:

In this question we have to apply the present value formula i.e to be shown in the attachment

Provided that,  

Future value = $0

Rate of interest = 9%

NPER = 20 years

PMT = $18,000

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after applying the above formula the present value is $164,313.82

8 0
3 years ago
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