Answer:
The acquired cost of the equipment on July 1 is $85,132
Explanation:
The computation of the acquired cost is shown below:
= Cash + Net note payable amount
= $10,000 + $75,132
= $85,132
where,
Notes payable amount equals to
= Non-interest-bearing note payable - discounts on notes payable
= $100,000 - $24,868
= $75,132
For computing the accurate answer we have to deduct the discount from the note payable amount and then added to thee cash amount
Hewo, Your answer is <em>"Taxes paid to the government have no direct effect on the economy". </em>The First is incorrect because savings save money, and do not leak any income. Number 2 is incorrect because Companies and Businesses pay wage to employees, and not employees pay to the business. And Exports, earn money, because you sell and export a product. Hence the logical answer is #4.
Answer:
C. the Inventory account.
Explanation:
Under a perpetual inventory system, acquisition of merchandise for resale is debited to the Inventory account.
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