Answer:
$0
Explanation:
Bonita is a person, not a company, therefore she cannot record operating losses. This is a not a common situation since you generally don't have more deductions than gross income, but it is a possible situation. For example, if Bonita had a lot of medical expenses during the last year and they accumulated to actually more than her salary. She may have paid them using her savings, selling some assets or by obtaining a loan.
<span>A.) Jessica is low risk and will pay her outstanding balances on time.</span>
Answer:
c) a benefit corporation.
Explanation:
A benefits corporation is the corporation that creates a positive impact on the society and its well being. The directors and the officers of this corporation would operate the business with the similar authority and behavior as done in the traditional corporation but the decision impact affect not only the shareholders but also the employees, customers etc
So as per the given situation, the correct option is c.
Answer:
Answer
Explanation:
I would most likely accept the promotion.
Several factors would influence my decision.
- The new scope of responsibilities
This will include all the additional risks and tasks that I will get by accepting the promotion. Taking new responsibilities might sound scary, and many people will be discouraged by this. But at some point, all great leaders are someone without any experience too. As long as we are open to criticism, we will adapt to our new responsibilities.
- the new pay raise
Economic gain usually comes with promotion. It will motivate me to do more for the company.
- The likelihood of me getting another promotion chance
Chances like this do not come often in our life. The fact that I'm offered a promotion means that the higher up has reviewed my previous work result and determine that I'm the best option for them. I would not let this chance go to waste.
Answer:
a) Journal entry
Date Account and explanation Debit Credit
June 1 Cash $108,000
Notes payable $108,000
b) Adjusting entry
Date Account and explanation Debit Credit
June 30 Interest expense $360
(108,000*4%*1/12)
Interest payable $360
c) Journal entry
Date Account and explanation Debit Credit
Dec 10 Notes payable $108,000
Interest payable (360*6) $2,160
Cash $110,160
d) Total (interest expenses)
Interest payable = $360 * 6
= $2160
