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Svetllana [295]
3 years ago
15

Tate Company purchased equipment on November 1, 2015 and gave a 3-month, 9% note with a face value of $20,000. The December 31,

2015 adjusting entry is
Business
1 answer:
loris [4]3 years ago
5 0

Answer:

Dr Interest expense 300

Cr Interest payable 300

Explanation:

Preparation of December 31, 2015 adjusting entry for Tate Company

Since Tate Company had purchased the equipment on November 1, 2015 in which the company gave a 3-month with 9% note and a face value of $20,000, this means we have to record the transaction by Debiting Interest expense with 300 and Crediting Interest payable with the same amount . The amount of 300 is calculated as 2/12×9%×20,000

Therefore Tmthe December 31, 2015 adjusting entry will be :

Dr Interest expense 300

Cr Interest payable 300

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When Jack takes a class, he saves all his work for that class with the name of the course. What is most likely happening to his
mojhsa [17]

Answer:

He has lost the previous files as he has been replacing them.

Explanation:

When you save a file in your computer, you need to save it with a name that is different from the names of the other files you have in the computer. If you save file with the same name of another file, you will replace that file and will lose the information you had. So according to this, as Jack is saving all his work for the class with the name of the course, it means that he has saved everything with the same name and he has lost the previous files because everytime he saves a new file he replaces the previous one.

8 0
3 years ago
Suppose the price of university sweatshirts increases from $10 to $20 and the quantity supplied increases from 20 to 30. The pri
riadik2000 [5.3K]

Answer:

0.60

Explanation:

The midpoint formula is used to calculate elasticity by using average percentage in both price and quantity.

The formula is given below:

Percentage change in quantity =<u>  (Q2 -Q1)     </u>   x  100

                                                        (Q2 + Q1) / 2

Percentage change in price = <u> (P2 -P1)     </u>   x  100

                                                   (P2 + P1) / 2

Elasticity =<u> Percentage change in price__</u>

                 Percentage change in quantity

Inserting the data:

Percentage change in quantity =<u> (30  -20)    </u>  x  100  =    <u>10</u> x 100  = 40%

                                                       (30 + 20) /2                   25

Percentage change in price  = <u>($20 - $10)</u> x 100    =  <u>10</u>  x 100   =  66.6%

                                                    ($20 + $10) /2             15

Elasticity of supply = <u>40%</u>

                                  66.6%

                                  = 0.60

                                           

3 0
3 years ago
The​ stockholders' equity of Gorsky Company at the beginning and end of 2018 totaled $ 125,000 and $ 131,000​, respectively. Ass
Debora [2.8K]

Answer:

The assets at the end of 2018 will be for 222,000

Explanation:

We solve using the accounting equation:

Assets = Liabilities + Equity

2017

Equity 125,000

Assets 145,000

<em>Assets = Liabilities + Equity</em>

145,000 = Liabilities + 125,000

145,000 - 125,000 = Liabilities

Liaiblities = 20,000

2018

Equity 131,000

"Liabilities increase by 71,000"

Liabilities = 2017 + increase = 20,000 + 71,000 = 91,000

<em>Assets = Liabilities + Equity</em>

Assets = 91,000 + 131,000 = 222,000

5 0
3 years ago
Smith &amp; Sons obtained a patent for a new optical scanning device. The fees incurred to file for the patent and to defend the
Tatiana [17]

Answer:

$3,750                            

Explanation:

Cost of patent             $45,000

Useful Life                       12

Amortization Expense for 2nd year =$3,750 (45,000/12)

Amortization Expense-Patent  Dr.$3,750

Accumulated Amortization-Patent  Cr.$3,750

4 0
3 years ago
Briefly discuss at least five benefits of taking a research methods course early in the graduate program.
Nat2105 [25]

Five benefits of taking a research methods course early in the graduate program are:

The investigation is an integral part of understanding the world's creations. The goal is to make comparative judgments about how things really are. It may be difficult at first, but you cannot ignore the need for research in any profession, even as a graduate student. Research Methods courses help students explore their career paths. This means that students gain insight into the realm they are venturing into.

By comparison, taking a research methods course at the beginning of a graduate program helps them build transferable skills and improve their resume.

Learn more about the graduate program at

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6 0
1 year ago
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