Answer:
The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.
Explanation:
The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.
In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.
Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.
Therefore, we have:
The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.
Answer:
d. INTC: 2.36 TXN: 3.43
Explanation:
The property , plant equipment turnover is the ratio of sales divided by the amount of PPE as shown below:
PPE turnover=sales/(beginning PPE+ending PPE)/2
Intel Corporation (INTC):
PPE turnover=$38,826/($15,768+$17,111)/2
PPE turnover=$38,826/$16,439.50
PPE turnover=2.36 times
Texas Instruments (TXN):
PPE turnover=$13,392/( $3,918+$3,899)/2
PPE turnover=$13,392/$3,908.50
PPE turnover=3.43 times
The correct option is D
Answer:
equipment 3,700
Explanation:
First we calcualte the values of the machine given up:
<u>traded-out assets</u>
purchased 23000
depreciation <u>20,000 </u>
book value 3,000
fair value 5,000
gain on disposal 2,000
This gain would be recognzie if there was commercial substance. In this case we don't have commercial substance. So it is deffered.
Value given up forthe new equipment:
cash 700
traded-out <u>5,000 </u>
total value 5,700
We subtract the deffered gain on disposal to get the accounting value for the new equipment:
deferred gain (2,000)
accounting value 3,700
The machine will enter the accounting with 3,700
journal entry
equipment 3,700
acc del 20,000
equipment 23,000
cash 700
Answer:
employer payroll taxes:
- FICA taxes (social security and medicare) = $39,325 ⇒ employer's FICA taxes are identical to the withheld FICA taxes from employees
- unemployment taxes = $3,825
- total = $39,325 + $3,825 = $43,150
1) total labor cost = total wages + total employer payroll taxes = $550,000 + $43,150 = $593,150
2)
March 31, wages and salaries
Dr Wage expense 550,000
Cr Cash 459,800
Cr Federal income tax withholding payable 50,875
Cr FICA taxes withholding payable (employees) 39,325
3)
March 31, employer payroll taxes
Dr FICA taxes expense 39,325
Dr Unemployment tax expense 3,825
Cr FICA taxes payable 39,325
Cr Unemployment taxes payable 3,825
To receive a loan from the imf, a country must agree to make economic reforms and conditions related to that loans.
<h3>What are the condition to receive a loan from IMF?</h3>
- To receive a loan from the IMF, a country must agree to make economic reforms.
- It has to follow the conditions associated with loans, debt relief and financial aid.
So we can conclude that To receive a loan from the IMF, a country must agree to make economic reforms and conditions related to that loans. #SPJ4
Learn more about IMF here: brainly.com/question/10346932#
