Answer:
Accounting or accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.
Explanation:
When a company rely on more debt, the value of the company will fell down at the perception of potential investors.
To determine the risk of investments, investors often compared the ratio between total assets and total debts (assets to debt ratio). Companies with low assets to debt ratio is regarded as a risky investment because it indicates that the company still has not enough capability to generate enough profit to buy its own assets
In a purchases journal, the total of the <u>Office Supplies DR</u> column is not posted to the general ledger.
Office supplies cost is the amount of administrative materials charged to price in a reporting time period. Those items are charged to expense while used; or, if the value of supplies is immaterial, it's far charged to expense whilst the cost is initially incurred.
Office expenses, like workplace elements, are usually recorded as a fee in preference to an asset. Office prices are often intangible and consist of things including janitorial offerings, software subscriptions, office renovation, or even website maintenance.
A journal entry is an act of retaining or making facts of any transactions both financial or non-economic. Transactions are indexed in an accounting journal that indicates a corporation's debit and credit score balances. The journal entry can include numerous recordings, each of that's either a debit or a credit.
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Answer:
Debit : Interest charge $26,000
Credit : Note Payable $26,000
Explanation:
The interest charge for the 6 months expired on the note is the adjustment required.
Interest charge = $650000 x 6% x 6/9 = $26,000
therefore,
the adjusting entry required if Wildhorse Co. prepares financial statements on June 30 is :
Debit : Interest charge $26,000
Credit : Note Payable $26,000
