Answer and Explanation:
The journal entries are shown below:
On Jan 1
Cash $340,000
Bonds payable $340,00
(Being the bond payable is issued for cash)
For recording this we debited the cash as it increased the assets and credited the bond payable as it also increased the liabilities
On Dec 31
Interest expense ($340,000 × 8%) $27,200
To Cash $27,200
(Being the interest expense for year 1 is recorded)
For recording this we debited the interest expense as it increased the expenses and credited the cash as it decreased the assets
On Dec 31
Interest expense ($340,000 × 8%) $27,200
To Cash $27,200
(Being the interest expense for year 1 is recorded)
For recording this we debited the interest expense as it increased the expenses and credited the cash as it decreased the assets
Answer: The entrepreneur assumes the risk of the business
Explanation:
An entreprenuer is a person that's bears the risk and controls the other resources such as the land , labour and the capital.
Also, we should note that the entrepreneur either makes a profit or loss. The difference between the small business owner and the entrepreneur is that the entrepreneur assumes the risk of the business
<span>"We are committed to improving the lives of our customers by providing quality services, products and solutions that earn their trust and build lifetime relationships."</span>
Answer:
I wouldnt
Explanation:
i like my home, i wouldnt want to trade it
Answer:
A. Cash = 21% increase, A/R = 22% increase, Inventory = 17% decrease.
Explanation:
A base year can be described as a year that is used as a reference year for comparison with other years.
To calculate the percentage increase/decrease of each current asset amount of Homework American Corporation, the following formula is used suing Year 1 as the base year.
Percentage increase/decrease = [(Year 2 amount - Year 1 Amount) / Year 1 Amount] * 100 .............................. (1)
Using equation (1), we have:
Percentage increase/decrease in Cash = [($245.90 - $202.95) / $202.95] * 100 = [$42.95 / $202.95] * 100 = 0.21 * 100 = 21% increase
Percentage increase/decrease in Accounts Receivable (A/R) = [($485.34 - $398.02) / $398.02] * 100 = [$87.32 / $398.02] * 100 = 0.22 * 100 = 22% increase
Percentage increase/decrease in Inventory (A/R) = [($648.54 - $785.12) / $785.12] * 100 = [-$136.58 / $785.12] * 100 = -0.17 * 100 = 17%
Based on the calculations above, the correct option is e. A. Cash = 21% increase, A/R = 22% increase, Inventory = 17% decrease.