Answer:
The correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Explanation:
As brick company has sign a $300,000 note which consist 7% interest rate and the duration of note is 9 month on January 1
The question has asked the journal entry on January 1 date.
So, the journal entry is
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
The interest part should be ignored because in the question they asked the journal entry of January 1 not in the end of the month. According to the date of asking the journal entry, the amount is to be calculated. Thus, interest should not be considered.
Hence, the correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Answer:
Journal entries to record the expenses incurred are given below.
Debit Factory Overhead Control Account $ 1300
Credit Utilities bills account $ 700
Credit Accumlated factory depreciation $ 400
Credit property tax payable $ 200
Journal entries to record the allocation of overhead at the predetermined rate of $1.50 per machine hour are given below.
Debit WiP process account $ 525
Credit Factory overhead applied account $ 525
(1.5 * 350 (machine hours))
Answer:
John must invest $3719.4
Explanation:
It is given that John grandfather withdraws $120 per month for 3 year
So total month = 12 ×3 =36 months
Total amount withdrawn S = 36×120 = 4320
m = 12 times per year
Rate of interest i = 5 % = 0.05
We know that 
P = $3719.41
So john must invest $3719.4
Answer:
d. is correct
Explanation:
made it easier for teenagers to find jobs that offer the opportunity for training.
Everyone starts a career , step by step, from the minimum salary to the top of income.
