Answer:
The required adjusting entry at the end of the accounting period is : A) Interest expense 4,000 Interest payable 4,000
Explanation:
Interest is Accrued from September 1 ,2004 to December 31, 2014 in the 2014 accounting period. Thus we a period of over 4 months out of the 12 months in a year.
Considering the Matching or Accrual Principle Interest will only be considered for these 4 months only (Revenues and Expenses must be recorded in the period in which they Accrue or Incur)
Calculation of the Interest expense and the Interest Payable is :
=$100,000 × 12% × 4/12
=$ 4,000
In accounting, the inventory is always done annually so inventory must always be accounted for at the year end. In order to address issues such as customer theft or spoilage, you have to minus (it's market value) from the beginning inventory.
I believe the answer is C because the company shares ( divides) the stock .
Answer:Deductibles. Non Deductibles.
Property tax 4500 Repairs 1200
Mortgage Int 8000. Utilities 2700
Explanation:Deductibles are statutory bills and must at all cost be paid while Non Deductibles are self servicing bills and are not compulsory bills.You can choose not to repair your gadget's or automobile but you cannot ignore forfeit paying your taxes and government bills.
