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Vikki [24]
3 years ago
10

Gullett Corporation had $30,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona

l $79,000 of raw materials. The journal entry to record the purchase of raw materials would include a: Multiple Choice debit to Raw Materials of $109,000 credit to Raw Materials of $79,000 debit to Raw Materials of $79,000 credit to Raw Materials of $109,000
Business
1 answer:
Bogdan [553]3 years ago
7 0

Answer:

The journal entry to record the purchase raw material would include a debit to raw material of $79000 and credit to Raw materials of $109000..

Explanation:

Since the raw material is coming into the company, we have debit raw material and the opening balance is already there in the books of the business. hence raw materials increases.

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It's actually FALSE.
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RideAnS [48]

Answer:

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4 0
3 years ago
Consider a $2,700 deposit earning 6 percent interest per year for 9 years. How much total interest is earned on the original dep
kaheart [24]

Answer:

Total interest earned on the original deposit=$403.593

Explanation:

Total Interest earned after 6 years using compound Interest:

FV=PV(1+i)^n

Where:

PV is the deposit amount

i is the interest Rate

FV=\$2,700(1+0.06)^9

FV=$4561.593

Total Interest earned after 6 years=FV-PV

Total Interest earned after 6 years=$4561.593-$2,700

Total Interest earned after 6 years=$1861.593

Total Interest earned after 6 years using single Interest:

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Total Interest =$1458

Total interest earned on the original deposit=Total Interest earned after 6 years-Total Interest

Total interest earned on the original deposit=$1861.593-$1458

Total interest earned on the original deposit=$403.593

5 0
3 years ago
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