Answer:
6,000 on the left side of Equipment account; $5,000 on the right side of Accounts payable account; $1,000 on the right side of the Cash account
Explanation:
When fixed assets are bought whether paid for or not, debit the asset account with the monetary value if the asset, and credit cash or bank if payment is made or credit account payable account where purchase is on credit.
In this case, the following entries should be done:
Debit Equipment Account $6,000
Credit Cash Account $1,000
Credit Account Payable $5,000
Answer:
$21,691.43
Explanation:
We are to determine the present value of 35,000
the formula for determining present value is :
PV = FV (1 + r)^-nm
FV = Future value
P = Present value
R = interest rate = 8%/ 12
N = number of years
m = number of compounding = 12
35,000( 1 + 0.00667)^-72 = $21,691.43
Answer:
The marketing method is called celebrity advertising/branding. It is used to further persuade customers to buy a specific product.
