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ANTONII [103]
3 years ago
11

Which journal entry below would be properly used to record an issuance of an installment note (borrowing money) from first bank

on january 1 of this year. the principal of the note is $50,000, interest rate is 7%, terms of the note 5 years, annual payment $12,195?
Business
1 answer:
Drupady [299]3 years ago
8 0
Principal of the note
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2 years ago
What is the name of the device that senses the current flowing, tripping the circuit, and cutting off
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3 years ago
Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would le
Rom4ik [11]

Answer:

Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement accounts

Explanation:

Productivity increases when human capital increases due to higher education and training, when physical capital increases due to higher investments or when new technological breakthroughs increase productivity.

By encouraging savings, investments will increase as well as physical capital which results in an increase in productivity.

4 0
3 years ago
sharp screen films, inc., is developing its annual financial statements at december 31, current year. the statements are complet
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Financial statements are written records that outline a company's operations as well as its financial success. Government organizations, accounting firms, and other entities frequently audit financial statements to assure their accuracy and for reasons related to taxes, financing, or investment. The balance sheet, income statement, cash flow statement, and statement of changes in equity are the four basic financial statements used by for-profit organizations. Nonprofit organizations employ a comparable but distinct set of financial statements.

                                                              SHARP SCREEN FILMS, INC.    

                                                                Statement of Cash Flows    

                                    For the Year Ended December 31, Current year

Cash flows from operating activities:          

Net income                                                                 46050      

Adjustments to reconcile net income to net cash provided by operating activities:          

Depreciation expense                                 13650        

Decrease in accounts receivable                  7200        

Increase in merchandise inventory         -4850        

Decrease in accounts payable               -10200        

Decrease in wages payable                            -400            5400      

                                                                                     51450      

Net cash provided by operating activities          

Cash flows from investing activities:          

Cash payments to purchase fixed assets -58950        

Net cash used in investing activities                              -58950      

Cash flows from financing activities:          

Cash payments on long-term note          -10900        

Cash payments for dividends                 -13950        

Cash receipts from issuing stock                  33400        

Net cash provided by financing activities                         8550      

Net increase in cash during the year                                 1050      

Cash balance, January 1, current year                                 63900      

Cash balance, December 31, 2015 current year                64950      

Financial information is used by analysts and investors to assess a company's performance and forecast the course of its stock price in the future. The company's annual report, which includes its financial statements, is among the most significant sources of trustworthy and audited financial data.

Investors, market analysts, and creditors analyze the financial statements to assess the strength of a company's finances and future profits potential. The statement of cash flows, income statement, and balance sheet are the three main financial statement reports.

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4 0
2 years ago
Cushman Company had $846,000 in sales, sales discounts of $12,690, sales returns and allowances of $19,035, cost of goods sold o
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Answer:

Explanation:

I'm pretty sure that gross profit is simply just sales-Cost of goods sold

846,000-401,850= 444,150

5 0
3 years ago
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