The adjusting entry for the sale of debt securities by Jerome Incorporated on December 30, is as follows:
<h3>Adjusting Journal:</h3>
December 31:
Debit Cash $7,000
Credit Investment $6,500
Credit Gain on Sale of Investment $500
- To record the sale of debt investment (part) and the gain therefrom.
<h3>What is an adjusting entry?</h3>
An adjusting entry is the journal entry made at the end of the financial year to ensure compliance with the accrual concept and the matching principle of generally accepted accounting principles.
An adjusting entry does not include the initial investment transaction made by Jerome Incorporated.
<h3>Transaction Analysis:</h3>
Dec. 30:
Cash $7,000 Investment $6,500 Gain on Sale of Investment $500
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Many employers will upload the resume with a scanning application that looks for certain keywords based on how they wanted it to be submitted.
Answer:
none
Explanation:
The Texas Real Estate Commission (TREC) requires that the seller of residential property comprising not more than one dwelling unit must file a Seller's Disclosure Notice. This excludes a condominium or a duplex. Also, if the house is new and has never been used for residential purposes, then the seller doesn't have to file a disclosure either.
The purpose of the disclosure is to inform any issues related with the house that the seller is aware of. But this disclosure does not substitute any inspections that the buyer may want to obtain.
Answer:
A niche market
Explanation:
<u>A niche market</u> appeals to help consumers make purchase decisions <em>by defining the product features intended to satisfy the specific market needs, as well as the price range, quality of production and the demographics</em> that it is intended to target.
By doing so, the company becomes a market leader and it becomes possible for other firms to enter that particular segment.
