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
Akimi4 [234]
3 years ago
13

On June 1, Crane Company Ltd. borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. The note matures on December 1. Cor

rect answer. Your answer is correct. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 enter an account title for the entry on June 1Entry field with correct answer Cash enter a debit amountEntry field with correct answer 99000 enter a credit amountEntry field with correct answer enter an account title for the entry on June 1Entry field with correct answer Notes Payable enter a debit amountEntry field with correct answer enter a credit amountEntry field with correct answer 99000
Business
1 answer:
azamat3 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

On June 1

Cash A/c Dr $99,000

    To Notes payable A/c  $99,000

(Being the amount borrowed is recorded)

For recording this transaction, we debited the cash account and credited the notes payable account so that the correct posting can be done

All other information which is given is not relevant. Hence, ignored it

You might be interested in
What does the investment component of GDP measure? a. spending on domestically produced goods by foreign buyers b. spending by h
viktelen [127]

Answer:

1) The correct answer is letter "C": spending on goods to be used in future production.

2) The correct answer is letter "B": is considered unsold inventory and counted as a part of investment in current GDP.

Explanation:

1) The Gross Domestic Product (GDP) considers four (4) components: <em>Consumption, Investment, Government, </em>and <em>Net Exports</em> (exports-imports). Investments refer to all goods that are purchased to produce other goods in the future. Final goods to be used or to replace others do not fall into this category.

2) The output of a company is computed within the GDP. Even if the output is not sold after production but it is recorded as part of an organization's inventory, it will be considered in the calculation of the GDP of the year when the production of the good took place.

6 0
3 years ago
According to the Techstar’s video describing entrepreneurial journeys, and their efforts to support entrepreneurship, what is th
chubhunter [2.5K]

Answer:

Champion

Explanation:

According to Techstars, the final stage of an entrepreneur's journey is champion. This represents start-ups that have a chieved great success like Google, and they are championing the enterpreneur's journey by working with enterpreneurs at earlier stages.

The initial stages of enterpreneur's journey is: inspire, discovery, founder, startup, scale, and finally champion.

5 0
3 years ago
Compare and contrast the risks and goals of entrepreneurs and inventors.
suter [353]

The difference between an inventor and an entrepreneur is that, an inventor develops new services and goods but he does not have them to the market. An entrepreneur risks resources may it be human, capital or natural in order to bring to the market improved and new products.

The risk which is incurred between entrepreneur and inventor is that, entrepreneur undergoes huge financial risks because a lot of money is being invested while inventor has low financial risk since there is no big investment which is being required.


4 0
3 years ago
Read 2 more answers
An example of form utility is when a customer gives cash in exchange for a pair of
Mandarinka [93]
The answer to your question is true
6 0
3 years ago
Shady Lane's income tax payable account decreased from $14 million to $12 million during 2016. If its income tax expense was $80
maria [59]

Answer:

A cash outflow of $82 million.

Explanation:

Because during the year Shady had taxes expenses for $80 million but then Shady cancelled $2 million of the Income Tax Payable account, which decreased from $14 million to $12 million.  

3 0
4 years ago
Other questions:
  • A sweater is on sale for 40% off the original price of $68. the sales tax rate is 7%. what is the tax on the sale price?
    10·1 answer
  • Vital Industries manufactured​ 2,400 units of its product Huge in the month of April. It incurred a total cost of​ $132,000 duri
    10·2 answers
  • Like a good economist, you calculated the opportunity cost of getting your college degree. suppose that at your university, you
    8·2 answers
  • Matthew's Fish Fry has a monthly target operating income of $7,200. Variable expenses are 60% of sales and monthly fixed expense
    12·1 answer
  • Ornaments, Inc., is an all-equity firm with a total market value of $531,000 and 19,600 shares of stock outstanding. Management
    11·1 answer
  • Pat Smith is personnel director for a large bank. Her major goal is to find a person who can adapt his or her leadership to diff
    14·1 answer
  • An accurate description of privatization is that Multiple Choice it started in China in the early 1980s. it involves replacing a
    13·1 answer
  • Discuss whether a television manufacturer should adopt a capital intensive production process?
    7·1 answer
  • A predetermined manufacturing overhead rate is calculated in the same manner as an actual manufacturing overhead rate except tha
    5·1 answer
  • According to the Sports Business Journal, Levy Restaurants is the leading purveyor of premium food at major sports venues. It ha
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!