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yan [13]
2 years ago
8

On July 15, 2015, Coolidge Company paid its 30-day, 10 percent, $600 note payable to Ross Company. Prepare the July 15 journal e

ntry for Coolidge by selecting the account names and dollar amounts from the drop-down menus. If there are multiple debits or credits, enter your answers in alphabetical order.
Business
1 answer:
steposvetlana [31]2 years ago
3 0

Answer:

Dr Notes Payable account 600

Dr Interest Expense account 5

Cr Cash account 605

Explanation:

The total interest due = $600 x 10% x 1/12 =$5

Notes payable is a liability account and it decreases, so it should be debited.

All expenses are debited.

Cash is an asset account and it decreases, so it should be credited.

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A. Suppose there is a surge in consumer confidence that creates an increase in aggregate demand in the economy. The Federal Rese
grigory [225]

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a. Open market sale of $30 billion

b. Open market purchase of $15 billion

Explanation:

6 0
2 years ago
After meeting with your new client, you prepared his statement of financial position and pie charts. Which part of the financial
yuradex [85]

Answer:

Analyzing the client's personal and financial circumstances.

Explanation:

The Financial Planning process is the process involved in planning and formulating certain strategies for the client. The professionals' design plannings and strategies based on the financial situation of the client. They consider every aspect of the financial situation of the client. There is a total of six steps involved in the planning process. Analyzing and evaluating the financial status of the client comes under the third step.

8 0
3 years ago
"Although Alibaba is competing in the Internet services industry, it has improved its performance by focusing on innovation and
meriva

Answer:

the resource-based model.

Explanation:

Resource-based theory can be understood as one that guarantees a strategic and competitive advantage to an organization through its resources that cannot be imitated and replaced. In the case of Alibaba, its valuable resources that guarantee long-term competitive advantages for the company are the company's ability to offer a wide range of products with significant discounts in relation to competitors, facilities for shipping goods worldwide, etc.

8 0
2 years ago
Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summ
marin [14]

Answer:

Net Sales

Gross Revenue                                           $‭101,200

Less:

Sales Discount                         $288

Sales Returns                          <u> $1,000 </u>      <u>  $1,288</u>

Net Sales                                                      $‭99,912‬‬

Gross revenue  = 83,200 + 18,000 = $‭101,200‬

Gross Profit

Net Sales                                                      $‭99,912‬

Less: Cost of Goods sold                           <u> ($‭52,747‬)</u>

Gross Profit                                                  $‭‭47,165‬

Cost of goods sold

= 44,797 - 600 + 8,550

= $‭52,747‬

7 0
3 years ago
Gaulle Company began the year with a balance of $6,000 in Accounts Receivable and ended the year with $9,000 in the account. Rev
Mkey [24]

Answer:

$35,000

Explanation:

Data provided in the question:

Accounts Receivable at the start of the year = $6,000

Accounts Receivable at the end of the year = $9,000

Revenues for the period = $38,000

Now,

cash collected from the customers

= Beginning balance + Revenue for the year - Ending balance of account receivable

= $6,000 + $38,000 - $9,000

= $35,000

8 0
3 years ago
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