Answer:
inventory 50,000 debit
accounts payable 50,000 credit
--to record purchase of goods--
accounts payable 50,000 debit
notes payables 50,000 credit
--to record teh issued promissory note to setle the account--
cash 50,000 debit
discount on note payable 4,000 debit
notes payable 54,000 credit
--to record the discounted note--
Explanation:
a) we record the purchase as always.
b) we are trading a liability for another. We do not receive for the note.
c) we discount on the note and we are goind to declare the interest expense at maturity or year-end against this discount.
Answer: 1. The only effect advertising will have on primary demand is to slow the rate of decline.
Explanation: Declining markets are those that have gone from maturity - where sales stay flat or may even climb occasionally - to multiple periods where there are decreasing sales. This drop in sales is the first and most obvious sign of a declining market and lower sales quickly lead to other attributes.
Common characteristics of the decline stage include a decrease in sales, an increasing difficulty to make a profit, and a decrease in advertising.
Answer:
Explanation:
When preparing tax returns, a company uses different rules from those used to prepare financial statements.
Answer: C and D
Explanation:
Depository institutions are financial organization in the US that is legally authorized to confirm money deposit from customers.
77% of the questions are answered right.