Answer:
Business
Explanation:
The extensive use of data and quantitative analysis to support fact-based decision making within organizations.
Answer:
The journal entry at the time when great adventures obtains the $30,000 loan is:
Account Title Debit Credit
Cash 30,000
Notes Payable 30,000
The interest accrued at the end of each month would be:
30,000 * 6% = 1,800/12 = $ 150
Interest entry would be made at the end of each month to record the interest expense.
Answer:
A) has no effect on the cash payments for interest reported in the operating activities section of the statement of cash flows
Explanation:
The amortization is an accounting method to match the difference in the nominal interest rate of bonds with the real interest rate the bond is yielding.
Th cash flow statment will just recognize the cash proceeds, which are calculate base on the face value, regardless of the premium or discount in the bond.
Answer:
C) Inventory xxx Accounts Payable xxx
Explanation:
Accounts payable is a liability, and a liability always has a credit balance, as the amount is due to them. The company needs to pay them back.
Accordingly the company buys inventory and the inventory is an asset and thus, the company will debit the inventory account.
Whenever any purchases are made, or any service is utilized on credit then the company creates an accounts payable as a liability as against it.
