1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DanielleElmas [232]
3 years ago
13

On January 1, Avers Co. borrowed $10,000 by extending their past-due account payable with a a 60-day, 8% interest-bearing note.

On March 1, the due date, Avers pays the amount due in full. This entry would be recorded by Avers with a debit to (Accounts Payable/Notes Payable/Cash)_____ in the amount of _______.
Business
1 answer:
babymother [125]3 years ago
4 0

Answer:

Notes payable; $10,000

Explanation:

Given that,

Borrowing amount = $10,000

Time period = 60 day

Interest rate = 8%

On the due date of the note, avers co. paid the amount.

Therefore, this entry would be recorded by Avers with a debit to Notes payable with an amount of $10,000.

Interest amount = $10,000 × (60 ÷ 360) × 0.08

                           = $10,000 × 0.17 × 0.08

                           = $136

(Note: Assuming 360 days in a year)

Therefore, the Journal entry is as follows:

Notes payable A/c     Dr. $10,000

Interest Expense A/c Dr. $136

To cash                                             $10,136

(To record Avers pays the amount due in full)

You might be interested in
A Coverdell Education Savings Account may be preferred to a Sec. 529 Education Savings Account under all of the following circum
Tpy6a [65]

Answer:

A)The student beneficiary will use the money to pay for high school expenses.

Explanation:

A Coverdell Education Savings Account can be used for elementary, secondary, or higher education expenses (college). The money can be used to pay for public, private, or religious schools. On the other hand, 529 plans can only be used to pay for higher education expenses (college).

The maximum contribution to a Coverdell Education Savings Account is $2,000 per year per child and the contribution is not tax deductible. But when the distributions are taken to pay for the child's qualified education expenses, then they are not taxed.

6 0
3 years ago
On December 31, 2021, Perry Corporation leased equipment to Admiral Company for a five-year period. The annual lease payment, ex
ivanzaharov [21]

Answer:

$20,000

Explanation:

Calculation to determine by what amount will Perry's earnings increase due to this lease

Using this formula

Selling price=Fair value-Cost

Let plug in the formula

Selling price=$125,000-$105,000

Selling price=$20,000

Therefore The amount that Perry's earnings will increase due to this lease is $20,000

3 0
3 years ago
Mifflin Co. reported the following for the current year.
katrin2010 [14]

Can an object accelerate if it's moving with constant speed? Yup! Many people find this counter-intuitive at first because they forget that changes in the direction of motion of an object—even if the object is maintaining a constant speed—still count as acceleration.Acceleration is a change in velocity, either in its magnitude—i.e., speed—or in its direction, or both. In uniform circular motion, the direction of the velocity changes constantly, so there is always an associated acceleration, even though the speed might be constant. You experience this acceleration yourself when you turn a corner in your car—if you hold the wheel steady during a turn and move at constant speed, you are in uniform circular motion. What you notice is a sideways acceleration because you and the car are changing direction. The sharper the curve and the greater your speed, the more noticeable this acceleration will become. In this section we'll examine the direction and magnitude of that acceleration.The figure below shows an object moving in a circular path at constant speed. The direction of the instantaneous velocity is shown at two points along the path. Acceleration is in the direction of the change in velocity, which points directly toward the center of rotation—the center of the circular path. This direction is shown with the vector diagram in the figure. We call the acceleration of an object moving in uniform circular motion—resulting from a net external force—the centripetal acceleration

6 0
3 years ago
Lean production uses a pull system. To enable this pull process to work smoothly, lean production demands what? check all that a
Digiron [165]

Lean production demands

- high levels of quality at each stage of the process

- strong vendor relations

- fairly predictable demand for the end product

Lean production is a manufacturing technique aimed usually at decreasing instances in the manufacturing gadget as well as response times from suppliers and to customers. it's miles intently associated with another concept referred to as simply-in-time production.

Lean production is a manufacturing method focused on removing waste, in which waste is described as something that does not upload value for the consumer. despite the fact that Lean's history is manufacturing, it's miles applicable to all sorts of employer and all an organization's techniques.

Lean manufacturing improves efficiency, reduces waste, and will increase productivity. The benefits, therefore, are manifold: increased product best: stepped forward efficiency frees up personnel and assets for innovation and quality control that would have previously been wasted.

Learn more about Lean production here : brainly.com/question/14298317

#SPJ4

5 0
1 year ago
Geena is the human resource manager for a machine job that produces custom parts. to make these products, production employees m
Firlakuza [10]
That statement is false.
Achievements tests are designed in order to measure the knowledge that a certain individual already possess.
If Geena want to measure how quickly that person could acquire new skills, she should administer aptitude tests instead.
8 0
3 years ago
Other questions:
  • Western Union is in the business of providing a medium for international money transfers. Through the services of Western Union,
    12·1 answer
  • All of the following are ways to calculate different versions of ROI​ except: A. Return on sales x investment turnover B. Income
    9·1 answer
  • _____ is a method for determining the estimated annual costs and benefits for a project.
    14·1 answer
  • Banks Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold was $27,600. If the invoice
    13·1 answer
  • The Hudson Corporation has 7,600 obsolete units of a product that are carried in inventory at a manufacturing cost of $152,000.
    15·1 answer
  • During the current year, Sedgewick Inc. had sales on account of $264,000, cash sales of $108,000, and collections on account of
    14·1 answer
  • The predetermined manufacturing overhead rate for 2020 was $4.00 per direct labor hour; employees were paid $5.00 per hour.
    15·1 answer
  • Live Trap Corporation received the data below for its rodent cage production unit. OUTPUT INPUT 49,200 cages Production time 630
    10·1 answer
  • In regression​ analysis, the coefficient of​ determination:
    15·1 answer
  • Which of the 4 P's focuses on communicating the value proposition?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!