The journal entry of a building being purchased will be, a debit in the building account by $60,000; and the cash account and payables account will be credited by $20,000 and $40,000 respectively.
<h3>What is a Journal Entry?</h3>
A method of recording the monetary transactions of a business firm throughout a financial period, in such a way that effects of the same are reflected in the financial statements, is known as recording of journal entries.
Hence, the effect of the journal entry has been given above, and an image is also provided for better understanding of the concept for the readers.
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Answer:
The answer is c.direct labor cost and overhead costs.
Explanation:
Conversion costs include direct labor and overhead expenses incurred in the process of converting raw materials into finished products
Answer:
It will take 2.72 years and 32.64 months.
Explanation:
Future value is the sum of principal amount and compounded interest amount invested on a specific rate for a specific period of time.
Use following formula to calculate the time period.
FV = PV x ( 1+ r )^n
FV = Future value = $6,000
PV = Present Value = $4,000
r = rate of interest = 15% yearly = 15% / 12 = 1.25%
n = time period = ?
$6,000 = $4,000 x ( 1 + 1.25% )^n
$6,000 = $4,000 x ( 1.0125 )^n
$6,000 / $4,000 = ( 1.0125 )^n
1.5 = ( 1.0125 )^n
Log 1.5 = n log 1.0125
n = Log 1.5 / log 1.0125
n = 32.64 months
n = 2.72 years
Answer:
They last for a certain period of time
Explanation:
Typically Certificates of Deposit are offered if the set amount is deposited and kept through the stated amount of time. (The length of the CD can be anywhere from 18 months to 3 years [most popular]) When the money is removed short of the stated time period a penalty is taken from the value of the CD.
Answer:
D.
Explanation:
When distributing a third party research report to its clients, an investment adviser (IA) must disclose that there was a third party involved that prepared the report. This is because disclosing the reports origin is absolutely necessary and required by law when the person that prepared the report is anyone but the investment adviser. Mostly due to the fact that the clients place their trust in the investment adviser and are trusting him/her with their money.
