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
OverLord2011 [107]
3 years ago
12

On April 12, Hong Company agrees to accept a 60-day, 10%, $5,900 note from Indigo Company to extend the due date on an overdue a

ccount. What is the journal entry needed to record the transaction by Indigo Company
Business
1 answer:
frutty [35]3 years ago
5 0

Answer and Explanation:

The Journal entry is here below:-

Accounts Payable Dr, $5,900

           To Notes payable $5900

(Being the note payable is recorded)

we are debited the accounts payable as it decreased the liabilities and we credited the notes payable as it increased the liabilities in order to do the correct journalizing and posting

You might be interested in
PLS HELP ASAP! GIVING BRAINLIEST!!<br><br> I need answers to 1 &amp; 2!!
Artyom0805 [142]

Answer:

1.  7.2

2. 9

Explanation:

take 72 and divide by number of years

72/x= ROI

7 0
3 years ago
Oriole Company bought equipment for $420000 on January 1, 2021. Oriole estimated the useful life to be 4 years with no salvage v
morpeh [17]

Answer:

$63,000

Explanation:

Straight line method charges a fixed amount of depreciation for the period the asset is used in the business.

Depreciation Expense = (Costs - Salvage Value) ÷ Estimated useful life

therefore,

2021

Depreciation Expense = $420000 ÷ 4 = $105,000

2022

One month has already expired, therefore the remaining useful life out of 6 years will be 5.

New Depreciable Amount = Cost - Accumulated depreciation to date

                                            = $420,000 - $105,000

                                            = $315,000

Depreciation expense = $315,000 ÷ 5 = $63,000

Conclusion :

the revised depreciation expense for 2022 is $63,000

6 0
3 years ago
Explain how test-marketing can increase profits.
kirill [66]

Answer:

Test marketing holds a lot of importance for the company. It allows

the company to test their product in a small region so as to get an

idea whether the product will work in a bigger market or not.

Through this, the company can measure the performance of the

product and can decide whether it should be released nationwide

for sale. Through this, the company can estimate the earnings that

can be earned through this product beforehand.

Explanation:

7 0
3 years ago
United Disposal, Inc., operates a hazardous waste disposal site that accepts waste transported by Ace Trucking Company from Gene
rosijanka [135]

Answer:

United Disposal, General Manufacturing Corporation, Ace Trucking Company, and/or Investment Properties.

Explanation:

When the EPA cleans up site, it generally uses money from its superfund and it is allowed to recover the money from the entity that caused the pollution (either directly or indirectly), the owner of the premise or the user of the premise. I.e. they can recover the funds from anyone involved. The EPA will try to recover the funds based on several aspects including the financial position of the entities involved. E.g. if United Disposal, Ace Trucking Company and General Manufacturing Company filed for bankruptcy, the EPA will recover the funds from Investiture Properties even if they were not responsible for the pollution.

8 0
3 years ago
Hunter has always been great at math. He has an accounting degree and wants to work for the federal government in the Governance
rusak2 [61]
United States EmbassyUnited Postal ServiceMunicipal Taxation Department<span>Internal Revenue Service? 
 
which one

</span>
4 0
3 years ago
Read 2 more answers
Other questions:
  • Assume that Puritan Corp. operates in an industry for which NOL carryback is allowed. Puritan Corp. reported the following preta
    11·1 answer
  • Davison Toaster Corp. sells its products for $250 per unit. It has the following costs:
    13·1 answer
  • Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set
    15·2 answers
  • What is a government department business?
    12·1 answer
  • Marginal revenue product is the
    13·2 answers
  • The breach of the fiduciary duty by an agent: a. results in termination of the agent. b. terminates the agent's apparent authori
    9·1 answer
  • (16-25) more questions:)
    10·1 answer
  • Common Law is?
    9·1 answer
  • What best determines whether a borrower’s interest rate on an adjustable rate loan goes up or down? a fixed interest rate a bank
    10·2 answers
  • When people refer to jobs in the public sector they are referring to jobs with:
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!