Are there any answer options? I know the answer if you have options
Answer:
A) debit interest expense, $1000
Explanation:
to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000
the journal entry should be:
December 31, 2018, accrued interest expense on note payable:
Dr Interest expense 1,000
Cr Accrued interest payable 1,000
Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.
From what I understood in the problem, the total budget that covers all types of media is only $1,000 per month. For the allocation, each type of media would get at least 25% of the budget. If we infer on this information, there should only be 4 types of media, at least. This is because four 25% portions would equal to 100%. If it exceeds 25% for each of the four types, it would be over the $1000 budget. With that being said, it is also possible that there will be 3 or 2 types of media. Nevertheless, let's just stick to the least assumption of 25% for each of the 4 types.
If local newspaper advertising is one of the four types, then:
$1000(25%) = $250
It would get $250 from the overall budget.
Answer: GNP; GDP
Explanation:
<em>The value of what a Canadian-owned Tim Hortons produces in South Korea is included in the Canadian </em><em><u>GNP </u></em><em>and the South Korean </em><em><u>GDP</u></em><em>. </em>
Gross National Product refers to the total amount of domestic production and foreign production that can be attributed to the residents of a nation.
This means that GNP includes the GDP and income earned by residents of the country in other countries but less the income earned by foreigners in the country. For Canada therefore, the value of goods produced by the Canadian company in South Korea will be added to the GNP.
Gross Domestic Product (GDP) on the other hand is simply the total final value of goods and services produced in a country regardless of if it was foreigners or residents doing the production. The value of what a Canadian-owned Tim Hortons produces in South Korea is therefore included in South Korea's GDP.
Answer:
$28,800
Explanation:
Data provided in the question:
The asset is depreciable under the 5 year MACRS category
Depreciation percentages for all six years are:
0.20, 0.32, 0.192, 0.115, 0.115, 0.058
Worth of the asset = $150,000
Now,
Depreciation to be claimed in the year 3 will be
= Worth of the asset × Depreciation percentages for the year 3
here, from the given percentages of the depreciation
the Depreciation percentages for the year 3 is 0.192
= $150,000 × 0.192
= $28,800
