Answer:
a. Bonds payable Liability account
b. Equipment Asset account
c. Accounts payable Liability account
d. Salaries payable Liability account
e. Common stock Equity account
f. Retained earnings Equity account
g. Cash Asset account
h. Accounts receivable Asset account
i. Sales revenue Equity account
j. Inventory Asset account
Explanation:
All the assets account is debit in nature, so the equipment, cash, account receivable and Inventory accounts are debit in nature and these are classified as asset.
All the account with credit nature is either classified as Liability or Equity accounts. Equity accounts are common stock, retained earning and sales revenue. Liabilities accounts are bond payable, account payable and salaries payable.
Answer: Four years
Explanation:
I just took a test over this
Answer:
Analysts measure the cost of a bundle of goods representative of overall spending at two points in time and compare the difference in cost.
Explanation:
Inflation refers to a situation in which there is a rise in the price level of the goods in an economy at a particular point of time.
For determining inflation, we need to compare the cost of buying certain baskets of goods in the current year and the cost of buying same basket of goods in the previous year. So that we are able to find the exact rise in the price level of the goods.
We need to analyse the cost of the same basket of goods for the two different periods. Hence, we will get the most appropriate values of the inflation.
When goods are shipped FOB destination and the seller pays the freight charges, the buyer c.makes no journal entry for the freight.
<h3>What are the journal entries for FOB destination transactions?</h3>
When merchandise is sold on FOB destination terms, it implies that the seller is legally responsible for the safety of the goods until delivered to the buyer. In most cases, the buyer does not pay for the freight.
In such a case, the Seller also records the delivery expense or freight as a period expense.
The buyer does not make any journal entry for the cost of delivery or (freight). Since the seller bears all the delivery risks, the buyer can only pay for the cost of the goods when they reach the buyer's destination.
Thus, when goods are shipped FOB destination and the seller pays the freight charges, the buyer c.makes no journal entry for the freight.
Learn more about FOB destination deliveries at brainly.com/question/24920251
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Answer:
c. Debit Notes Payable $9,000; debit Interest Expense $240; credit Cash $9,240.
Explanation:
Interest Expense = $9,000 x 0.08 x 120 / 360 = $240
