Answer:
The correct option here is A) instructors spend more time on instruction than they spend on supplemental responsibilities.
Explanation:
Instructors usually spend more time on the on job duties, they are not developing any professional relationship with its students, they are not here to improve or teach the basic skill to their students , they don't work on improving the students psychology , so it won't be wrong to say that they don't spend much time on supplemental responsibilities.
Answer and Explanation:
The journal entries are shown below:
On Aug. 1
Merchandise Inventory $75,000
To Accounts Payable $75,000
(Being the purchase of merchandise inventory is recorded)
For recording this we debited the merchandise inventory as it increased the assets and credited the account payable as it also increased the liabilities
On Sept. 1
Accounts Payable $75,000
To Notes Payable $75,000
(Being the issued of note payable on the account is recorded)
For recording this we debited the account payable as it decreased the liabilities and credited the note payable as it increased the liabilities
On Nov. 30
Notes Payable $75,000
Interest Expense $1,125 ($75,000 × 6% × 90 days ÷ 360 days)
To Cash $76,125
(Being cash paid is recorded)
For recording this we debited the note payable and interest expense as it decreased the liabilities and increased the expense and credited the cash as it decreased the assets
Answer:
Direct material price variance= $3,720 favorable
Explanation:
<u>To calculate the direct material price variance, we need to use the following formula:</u>
<u></u>
Direct material price variance= (standard price - actual price)*actual quantity
Actual cost= $5.4
Standard cost= $6.2
Actual quantity= 4,650
Direct material price variance= (6.2 - 5.4)*4,650
Direct material price variance=$3,720 favorable
Explanation:
The recording of the $39.5 million debt in balance is presented below:
Balance sheet
Current liability
Current portion of long term debt $7,000,000
Long term liability
Notes payable $32,500,000
Total liabilities $39,500,000
The practice of buying goods and services now and paying for them later is termed is<u> Bartering</u>.
A barter is a transaction in which two or more parties exchange products or services without exchanging cash or other forms of payment like credit cards.
In its simplest form, bartering entails the exchange of one party's good or service for another party's good or service.
A carpenter who constructs a fence for a farmer is a straightforward illustration of a barter transaction.
The farmer might compensate the carpenter with $1,000 worth of crops or groceries rather than paying the builder $1,000 in cash for labor and supplies.
To learn more about Bartering here
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