Answer:
See explanation section
Explanation:
Requirement A
Insto Photo Company
Journal Entries
Date Accounts Name Debit Credit
December 1, 2016 Inventory $25,000
Notes payable $25,000
<em>Note</em>: As the merchandise company issued a note for the credit purchase of merchandise inventory, notes payable is used instead of accounts payable.
Dec. 31, 2016 Interest expense $250
Interest payable $250
<em>Note: </em>Adjusting entry is needed as the fiscal year is ended on 31st December, therefore, there will be an accrued interest expense to be paid for one month. The calculation of interest expense = $25,000 × 12% × (30 ÷ 360) [assuming 1 year = 360 days, 1 month = 30 days]. = $250 for one month's accrual.
Requirement B
March 31, 2017 Interest expense $ 750
Interest payable $ 250
Notes payable $25,000
Cash $26,000
<em>Note:</em> At the end of the maturity date, the buyer will pay all the bills of the notes plus interest. Interest payable becomes debit as it did not pay by the buyer on 31st December, 2016. The remaining interest = $25,000 × 12% × (90 ÷ 360) = $750. Total cash will be paid after the maturity = $25,000 + $250 + $750 = $26,000.
When preparing the statement of cash flows using the indirect method, depreciation expense is added to net income because net income is a starting point in measuring cash flows from operating activities
<h3>What is a Balance Sheet?</h3>
This refers to the inventory taken for all goods available in a warehouse, showing its financial records.
Hence, we can see that when a person is preparing the statement of cash flows with the indirect method, there is the addition of depreciation expense simply because the net income must be factored in.
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Answer:
identify if customer needs are being met
Explanation:
market research the action or activity of gathering information about consumers' needs and preferences
The <u>main idea</u> of a business message summarizes what you want your audience members to do or think and why they should do so.
The primary purposes for sending commercial enterprise messages are commonly to tell and to persuade and visible cues, in addition, to permit the sender to tailor the message to the target market.
A message (verbal or nonverbal, or both) is the content material of the communication technique. The originator of the message in the communique procedure is the sender. The sender conveys the message to a receiver.
Knowing your target audience lets you make selections approximately what records you need to include, how you need to set up those records, and what sort of assisting details might be important for the reader to recognize what you're providing. It additionally influences the tone and structure of the record.
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Answer:
B. The Accounts Receivable controlling account.
