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
san4es73 [151]
3 years ago
13

On october 1, steve's carpet service borrows $350,000 from first national bank on a 3-month, $350,000, 8% note. what entry must

steve's carpet service make on december 31 before financial statements are prepared?
Business
1 answer:
sergiy2304 [10]3 years ago
6 0

Answer:

Recognise Asset - Cash and Liability - Note Payable at $350,000

Recognise Interest Expense accrued on Note Payable at $ 28,000

Explanation:

J1

Bank $350,000 (debit)

Note Payable $350,000 (credit)

Recognise Asset - Cash and Liability - Note Payable at $350,000

J2

Interest Expense $ 28,000 (debit)

Note Payable $ 28,000 (credit)

Recognise Interest Expense accrued on Note Payable at $ 28,000

You might be interested in
What is a fixed expense? A. Food B. Utilities C. Clothing. D. Rent
Misha Larkins [42]
Fixed expenses<span> or costs are those that do not fluctuate with changes in production level or sales volume. They include such </span>expenses<span> as rent, insurance, dues and subscriptions, equipment leases, payments on loans, depreciation, management salaries, and advertising.

D. is the answer
could you add me brainlest?? </span>
8 0
4 years ago
The influential economist Jeffrey Sachs argues that throughout history, _____ , with their long engagements in international tra
FinnZ [79.3K]

Answer:

E. coastal states

Explanation:

The influential economist Jeffrey Sachs argues that throughout history, coastal states, with their long engagements in international trade, have been the most supportive of market institutions.  

According to Jeffrey Sachs, 'geography matters'; and that the U.S, economic activities are overwhelmingly concentrated at the oceans and great lakes coasts alluding to the fact that coastal proximity is significantly contributory to the productivity of countries in terms of international trade.

3 0
3 years ago
In a process cost system, unit costs are determined using a _________.a. denominator of units produced for the day. b. numerator
Alekssandra [29.7K]

Answer: D

Explanation:

In a process cost system, unit costs are determined using a denominator of units produced during the period.

6 0
3 years ago
yamaha incorporated hires a new chief financial officer and promises to pay him a lump-sum bonus four years after he joins the c
4vir4ik [10]

To determine the amount that must be invested each year, a computation must be made using the formula for the future value of an annuity due. The future value of an annuity can be described as the sum of the future value of each payment.

Investing can be defined as the process of buying assets that increase in value over time and provide returns in the form of income capital gains or payments. The equation for the future value of an annuity due is the sum of the geometric sequence, or can be written as  A(1 + r)1 + A(1 + r)2 + ... + A(1 + r)n.

Learn more about investing here brainly.com/question/15353704

#SPJ4

7 0
2 years ago
Aggregating potential car buyers into groups that have common needs and will respond in the same way to a marketing campaign is
erma4kov [3.2K]
The process is known as market segmentation.
Market Segmentation enables associations to utilize a marketing strategy of product differentiation where Firms utilize distinctive promoting blend activities to enable consumers to see item contrasts against competitors.

3 0
3 years ago
Other questions:
  • Which statement best explains the law of supply?
    10·2 answers
  • Suppose that the government decides to start regulating use of its forests, charging anyone who wants to log. Which of the follo
    6·1 answer
  • Assume that we use a perpetual inventory system and that five identical units are purchased at the following dates and costs: Ap
    10·1 answer
  • The marketing concept works for nonprofit organizations such as colleges and hospitals as well as for businesses whose goal is t
    8·1 answer
  • The Plant Assets account and Accumulated Depreciation -- Plant Assets account of Star Media show the following:
    11·1 answer
  • Birkner Corporation's flexible budget performance report for last month shows that actual indirect materials cost, a variable co
    13·1 answer
  • A user video is claimed by one asset with a policy of Monetize worldwide and claimed separately by another asset with a policy o
    8·1 answer
  • Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201 A
    9·1 answer
  • Chance, Inc. sold 5,000 units of its product at a price of $172 per unit. Total variable cost per unit is $131, consisting of $9
    5·1 answer
  • justin corp. issues 10,000 shares of $1 par value common stock for $5 per share. the journal entry to record this transaction wi
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!