Answer:
January 1
Cash 614000 Dr
Notes Payable 614000 Cr
Explanation:
The Sheffield Brick Company has borrowed from the Admire county bank which means the note payable is a liability in the books of the Sheffield Brick company. As liability is increased or recorded, it is credited. The amount of liability is $614000 on the day of the issuance of note. Thus, Sheffield will credit Note payable by $614000.
The Sheffield company has received cash by signing note. As cash is an asset and it is increasing, the Sheffield company will debit cash by 614000 against the notes payable.
Answer:
$7500
Explanation:
An expense stop is a tool used by landlords to limit their operating costs and maintain predictable operating costs over the terms of the lease. Hence, even though the operating expense is $6.50, the landlord is only accountable for $6.
The operating costs annually would be: 1500 x 6 = 9000
(Even though the office space is vacant for one month of the year, maintenance costs will still be incurred throughout the year, whether leased or vacant)
Annual income :
1500 x 12 = $18000 (12 months)
It should be noted though that the office space is vacant for one month. Hence, landlord only receives 11 months worth of leased rent. Actual income : (18000/12) x 11 = $16500
Net operating income annually : Total income - Total expenses = $16500 - $9000 = $7500
Answer:
Dr. Cr.
Salaries Expense $8,000
Salaries payable $8,000
Explanation:
Four days of the week passed until December 31. So, the accrued expense will be as follow:
Payroll for 5 days = $10,000
Payroll for 1 days = $10,000 / 5 = $2,000
Payroll for 4 days = $2,000 x 4 = $8,000
Accrued Expense of $8,000 should be recorded and a liability will be made against this expense as payment has not been made.
Answer:
In plain terms, the consumer motivation is the set of cognitive factors driving a customer's determination to make a single sale. The payment is the ultimate product of a "Purchaser's Process" scheme, a three-stage mechanism consisting of:
1.Awareness.
2.Interest.
Determination
