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3 years ago

The journal entry for an installment note payment includes all except:__________.

Business

1 answer:

soldi70 [24.7K]3 years ago

5 0

Answer: a. a credit to Accounts Payable.

Explanation:

When paying off a note, cash will be used so cash will have to be credited to show that it is decreasing.

Interest expense will be debited by the interest accumulated on the loan because expenses are debited when they increase.

Notes Payable will be debited to show that the note has now been retired.

There is no credit for Accounts payable involved in this transaction.

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Joe Santos owns the only pizza parlor in a small town that is also home to a McDonald's, a Taco Bell, and a Kentucky Fried Chick

astra-53 [7]

Answer:

True

Explanation:

A more precise way to describe the situation is that Joe's pizza parlor is a monopolistic competition. But that definition considers that all 'food' items have some degree of close substitute relation.

But yes, if you consider this two conditions:

a broad definition of monopoly
other restaurants are not considered close substitutes for the food sold at the pizza parlor

Then yes, Joe has monopoly

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3 years ago

The relationship between the number of years for the mortgage / home loan and the monthly payment amount.

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2 years ago

5. Based on information presented in the video, construct an argument that defends the idea that we should not lower taxes for t

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Answer:

We should not lower taxes for the wealthiest Americans because they own and run a lot of companies and businesses that we use. Lower income Americans want their leaders to understand or know what it’s like to be less wealthy so they’ll be more sympathetic towards lower income people and won’t do everything out of the want for more money. If they have to pay lower taxes, then that takes away from their ability to sympathize with lower income homes, and that would upset a lot of people.

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3 years ago

Problem 16-4 Break-Even EBIT [LO1] Round Hammer is comparing two different capital structures: An all-equity plan (Plan I) and a

vovikov84 [41]

Answer:

under plan I:

EBIT = $475,000

net income = $475,000

EPS = $475,000 / 195,000 stocks = $2.44

under plan II:

EBIT = $475,000

net income = $475,000 - ($2,900,000 x 7%) = $272,000

EPS = $272,000 / 145,000 stocks = $1.88

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EBIT = $725,000

net income = $725,000

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under plan II:

EBIT = $725,000

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in thousands

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145EBIT = 195EBIT - $39,585

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3 years ago

The weekly profit of a company is modeled by the function w = –g2 + 120g – 28. The weekly profit, w, is dependent on the number

FromTheMoon [43]

Answer:

120 gizmos.

Explanation:

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