Colonization encouraged trade, industry, and the manufacturing of items such as ________

On December 31 of the current year, Jones Company purchased a building for $100,000, paying $40,000 in cash and signing a 15-yea

Law Incorporation [45]

Answer:

These are the correct journal entries:

Account Debit Credit

Building $100,000

Cash $40,000

Mortgage Payable $60,000

Interest Expense $3,000

Accrued Interest Payable $3,000

4 0

3 years ago

According to financial planners, the average retiree requires approximately 70% of their last year’s working salary (answer to #

Anna35 [415]

Answer:

Our answer is 2430798.798

Explanation:

. 70% of pre-retirement salary should be equal to the interest that we get from savings(5% of savings).

Therefore, 0.7 × 173628.4856 = 0.05×savings

==> savings = 2430798.798

3 0

3 years ago

the ____ is a federal government agency that offers both managerial and financial assistance to small businesses

hjlf

Small business administration.

5 0

3 years ago

Orlin purchases a refrigerator, on credit, from a door to door salesman. Orlin only has a 5th grade education, and the terms of

mote1985 [20]

Answer: the doctrine of unconscionability

Explanation:

The doctrine of unconscionability is a defense that is against enforcing a contract. From the question, we are informed that Orlin bought a refrigerator, on credit, from a salesman and the salesman want him to pay 10 times the worth of the refrigerator.

In this scenario, the contract is deemed to be unfair and also oppressive to Orlin, thus he a find it unconscionable and therefore he can refuse to enforce it. Therefore, if he wants to challenge the contract’s terms, the doctrine of unconscionability will be used.

6 0

3 years ago

Tara Company owns 30% of Hawkins, Inc. and applies the equity method. During the current year, Hawkins buys inventory costing $4

Step2247 [10]

Answer:

The correct option is d. $7,500

Explanation:

For computing the unrealized gain, first we have to compute the gross profit ratio which is shown below:

Since gross profit is not given in the question, so, first we have to find it.

The gross profit formula is shown below:

= Sales revenue - cost of goods sold

= $500,000 - $400,000

= $100,000

Now, gross profit ratio equals to

= (Gross profit ÷ sales revenue) × 100

= ($100,000 ÷ $500,000) × 100

= 20%

In the question, the 25% of merchandise is still held by Tara.

Since merchandise inventory is not given

So, we multiply the gross profit by 25% and 30%

In mathematically,

= Gross profit × 25% × 30%

= $100,000 × 25% × 30%

= $7,500

Hence, the $7,500 amount of unrealized gain must be deferred by Hawkins in reporting on the equity method

Therefore, the correct option is d. $7,500

3 0

3 years ago

Colonization encouraged trade, industry, and the manufacturing of items such as _________.