Burrows' journal entry to record this transaction will include a debit to Cash.
<h3>Journal entry:</h3>
Based on the information given if Burrows borrowed the amount of $100,000 by signing a formal agreement to repay the bank the appropriate journal entry to record this transaction will include:
Burrows journal entry
Debit Cash $100,000
Credit Notes payable $100,000
(To record notes payable)
Inconclusion Burrows' journal entry to record this transaction will include a debit to Cash.
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Agricultural marketing covers the activity of getting the an agricultural product from the fom to consumers
Answer:
14.81%
Explanation:
Unemployment rate = (unemployed people/ labour force ) x 100
Labour force = unemployed people + employed people
= 230 million + 40 million = 270 million
(40 / 270) × 100 = 14.81%
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Answer:
$4080
Explanation:
Straight line method of depreciation is a method of calculating depreciation expense of an asset after years of usage.
Given;
Initial cost of asset = $44,000
Salvage value = $3,200
After five years the asset has depreciated by ($44000-$3200) i.e
$40800
Depreciable asset cost = $40,800 (after 5years)
To determine the depreciation amount recorded during the first year ending 31st December;
Since the van was purchased July 1 of that year, by December 31 of the same year, the van must have been used only for 6months i.e (0.5year)
Depreciation expense = year of usage/total useful life × depreciable cost of asset
Depreciation expense = 0.5/5×$40,800
Depreciation expense = $20,400/5
Depreciation expense = $4080
Answer:
II, III, and IV only
Explanation:
The first statement is wrong. IRR is the rate that causes the net present value of a projects cash-flows to exactly equal zero, and therefore a project with a required rate of return higher than the IRR would mean that the cash-flows have to be discounted by a higher rate, which would yield a negative net present value. Such a project would reduce shareholder wealth and should be rejected. The other 3 statements are correct.
