Answer:
August 31, 202x (assuming a 360 day year)
Dr Interest expense 1,750
Cr Interest payable 1,750
Explanation:
The journal entry to record the loan:
July 1 , 202x
Dr Cash 420,000
Cr Notes payable 420,000
The journal entry to record accrued interest on the loan:
August 31, 202x (assuming a 360 day year)
Dr Interest expense 1,750
Cr Interest payable 1,750
Interest expense = $420,000 x 5% x 2/12 = $1,750
Answer:
False
Explanation:
It's not prepared for each correspondent.
Answer:
Revenue
Explanation:
In finance, revenue recognition principle can be associated to acrrual accounting, it stated that recognition of revenue should only take place when revenue is earned or received, it shouldn't be when there is received cash. It helps to know periods that revenue is needed to be recognized.
It should be noted that Consistent with revenue recognition principle, companies record revenue at the time goods are provided to customers.
Answer:
see explanation
Explanation:
a. The company's cost of debt
Cost of Debt = Total after tax cost
b. The company's cost of equity?
Cost of equity = Return from risk free + Beta x Market Premium
c. The company's weighted average cost of capital
weighted average cost of capital = Weighted Cost of Debt + Weighted Cost of Equity
$52670 is the cost of goods sold for the month of March
<h3>What is
cost of goods ?</h3>
The carrying value of goods sold during a specific period is referred to as the cost of goods sold. Costs are assigned to specific items using one of several formulas, such as specific identification, first-in-first-out, or average cost.
The value of a company's cost of goods sold is determined by the inventory costing method used. When recording the level of inventory sold during a period, a company can use one of three methods: The average cost method, first in, first out (FIFO), and last in, first out (LIFO)
If COGS rises, net income will fall. While this change is advantageous for income tax purposes, the business will generate less profit for its shareholders. Businesses thus try to keep their COGS low so that net profits will
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