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Oliga [24]
3 years ago
12

Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1st. Givens Brick Company signs a $600,000, 8%, 9-mon

th note. What entry should be made by Givens Brick Company on January 1st to record the proceeds and issuance of the note?
Business
1 answer:
NeTakaya3 years ago
7 0

Answer:

The journal entry for the issuance and the proceeds of the note is shown below:

Explanation:

Cash A/c.........................Dr   $600,000

    Notes Payable A/c......Cr  $600,000

The givens company received a amount of $600,000 from the bank, so cash is increasing and increase in cash is debited. Therefore, the cash account is debited. Whereas, the cash against a note payable, which increases the liability and any increase in liability is credited. Therefore, notes payable is credited.

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Suppose there are two individuals, Casey and Rick, who live in a very simplified world where only two goods are produced and con
Maksim231197 [3]

Answer:

Casey's opportunity cost of producing 1 kg of potatoes is 5 kg of steak.

Casey's opportunity cost of producing 1 kg of steak is 0.2 kg of potatoes.

Rick's opportunity cost of producing 1 kg of potatoes is 3 kg of steak.

Rick's opportunity cost of producing 1 kg of steak is 0.33 kg of potatoes.

Casey should produce steak while Rick should produce potatoes, since Rick has a comparative advantage in producing potatoes (lower opportunity cost) and Casey has a comparative advantage in producing steak.

As long as the price of steak per kilogram of potatoes is less than 5 kg of steak and more than 3 kg of steak, then both would win. In order for both of them to win is a similarly proportional way, the exchange price should be 4 kg of steak per kg of potatoes.

4 0
3 years ago
Demand for individual products can be driven by product life cycles. <br> a. True <br> b. False
Ray Of Light [21]
True djtvfegjuthbggh
8 0
3 years ago
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses i
o-na [289]

Answer:

From the attached excel file, we havee:

Revenue and spending income from operations variance = $4,566 Favorable

Activity income from operations variance = -$5,860 Unfavorable

Explanation:

Note: See part a of the attached excel file for the flexible budget performance report that shows both revenue and spending variances and activity variances for September.

Also Note: See parts b and c of the attached excel file for the calculations of revenue and spending variances and activity variances respectively for September.

Download xlsx
8 0
2 years ago
1. led a tax rebellion Columbus 2. commander in chief in Revolution Andrew Jackson 3. financial plan established United States e
gogolik [260]

Answer:

The correct answer are:

1. Daniel Shays; 2. George Washington; 3. Alexander Hamilton; 4. Thomas Jefferson; 5. Columbus; 6. Francis Scott Key; 7. Andrew Jackson; 8. Lewis and Clark.

Explanation:

The American Revolution shook the entire world. The thirteen British colonies that would become the United States of America, fought and won the battle against the most powerful imperial power on the planet. In the years that followed the American victory over the British, the hopes of the masses were betrayed. Consequently, there were many popular movements and uprisings. But none had such a great impact on the psychology of the ruling class and the future structure of the US government as the Shays Rebellion of 1786-87, which some have called "The Final Battle of the American Revolution."

Considered the "Father of the Fatherland," George Washington was a celebrated general, farmer, entrepreneur and the first president of the United States.

Alexander Hamilton was an American politician. He was a young lawyer from New York when the War of Independence broke out in the thirteen British colonies of North America (1775-83). In 1777 he became secretary of George Washington, commander in chief of the insurgent army.

8 0
3 years ago
What is the appropriate accounting treatment for the value assigned to in-process research and development acquired in a busines
Vera_Pavlovna [14]

Answer:

Capitalize as an asset.

Explanation:

6 0
3 years ago
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