Anyone know the answer to this one?

Flipco signed a 10-year note payable on January 1, 2018, of $ 800, 000. The note requires annual principal payments each Dece

kirill115 [55]

Answer:

A. a debit to Interest Expense for $ 36, 000

Explanation:

Based on the information given we were told that Flipco has note payable on January 1, 2018, of the amount of $800,000 and on December 31 we were told that the loan requires annual principal payments of the amount of $80,000 in addition with 5% interest. This means that the Journal entry to record the transaction on December 31, 2019 will includes a Debit to interest expense for $36,000 calculated as :

Interest expense= $800,000-$80,000

Interest expense=( $720,000* 5%* 12/12)

Interest expense =$36,000

Therefore the Journal entry to record the annual payment on December 31, 2019 will includes :

A Debit to interest expense for $36,000

7 0

3 years ago

How do you find the total fixed cost using the table

iogann1982 [59]

Answer:

Total cost (TC) = Total variable cost (TVC) + Total fixed cost (TFC)

Therefore,

Total fixed cost = Total cost - Total variable cost

hope am helpful

6 0

2 years ago

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A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is

Vladimir79 [104]

Full question:

A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

A. luxury

B. business

C. Specialty

D. Shopping

E. Convenience

Answer:

A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is purchased infrequently and with extra effort on the buyer's part is a Specialty product.

Explanation:

A specialty product is a commodity that some customers will actively attempt to buy because of unprecedented features or adherence to a particular brand. Customers who endeavor specialty products know what they require and will consume time and attempt to take it.

Typically, these customers will not readily acquire replacement products. Some companies only market specialty products that promote other products in the market. Specialty products in this range are sold to request to consumers want to individualize what they previously have.

5 0

3 years ago

Toggle Company reported sales of $310,000 and cost of goods sold of $180,000 for 20X2. During 20X2, Toggle’s accounts receivable

kiruha [24]

Answer:

Cash Received from customers = $293,000

Cash payments to suppliers = $167,000

Cash flows from operating activities = $460,000

Explanation:

Cash Received from customers is calculated as follows :

Sales $310,000

Less Increase in accounts receivable ($17,000)

Cash Received from customers $293,000

Cash payments to suppliers is calculated as follows :

Cost of goods sold $180,000

Decrease in Inventory $8,000

Decrease in Payable ($21,000)

Cash payments to suppliers $167,000

Cash flows from operating activities is calculated as follows :

Cash Received from customers $293,000

Cash payments to suppliers $167,000

Cash flows from operating activities $460,000

7 0

4 years ago

Which bear is best? Beets. Bears. Battlestar galactica.

Misha Larkins [42]

Answer:

black bear

Explanation:

I've watched the office 10 times

8 0

3 years ago

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