Answer and Explanation:
Long-term Liabilities
Bonds Payable $600,000
Less:
Discount on bonds payable $45,000 $555,000
Notes payable $80,000
Total Long-term Liabilities $635,000
Answer: The adjusting entry is to DR Unearned Revenue Account with $700 and CR Earned Revenue Account with $700.
Explanation:
A reduction in the unearned revenue account implies that a portion of the unearned revenue has been earned.
Unearned revenue account is a liability account that warehouses revenue paid for but yet to be earned. A reduction in the liability means an income has been earned and recognised.
Answer:
a safety manual
Explanation:
OSHA = Occupational Safety and Health Administration
Answer:
3 years
Explanation:
The formula to compute the payback period is shown below:
= Initial investment ÷ Net cash flow
where,
Initial investment is $450,000
And, the net cash flow = annual net operating income + depreciation expenses
= $105,000 + $45,000
= $150,000
Now put these values to the above formula
So, the value would equal to
= ($450,000) ÷ ($150,000)
= 3 years
