1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aloiza [94]
3 years ago
6

Watunga County Bank agrees to lend Vaughn Granite Company $599000 on January 1. Vaughn Granite Company signs a $599000, 8%, 9-mo

nth note. The entry made by Vaughn Granite on January 1 to record the proceeds and issuance of the note is
Cash 599000
Interest Expense 35940
Notes Payable 599000
Interest Payable 35940
Interest Expense 35940
Cash 563060
Notes Payable 599000
Cash 599000
Notes Payable 599000
Cash 599000
Interest Expense 35940
Notes Payable 634940
What is the adjusting entry requited if Hoffman Granite Company prepares financial statements on June 30th?
Business
1 answer:
tangare [24]3 years ago
5 0

Answer:

DR Cash                             $599,000

CR Notes Payable                                $599,000

Explanation:

As this is the entry for the issuance of the note, interest will not be recorded as it is incurred as during the loan period.

Entry will be;

Date                  Details                                                 Debit                   Credit

Jan 1                  Cash                                                  599,000

                          Notes Payable                                                               599,000

You might be interested in
Why Do Organizations not change in response to environmental pressures?​
Elina [12.6K]

Answer:

It often proves difficult to actually realize the change that you have come up with. Especially when it comes to cultural or behavioral change. We want to show that change is not so much something that you have to get others to join. You have to make your change part of it

3 0
3 years ago
Magazines and journals are examples of periodical resources. True False
mylen [45]
The answer to your question is true.
8 0
3 years ago
Read 2 more answers
After the elimination period, a totally disabled insured qualified and started receiving benefits from his disability income pol
Andrej [43]
A premium will be waived
7 0
3 years ago
Mattel teamed with coca-cola to market soda fountain sweetheart barbie. this is an example of ____.
Svet_ta [14]

Mattel teamed with coca-cola to market soda fountain sweetheart barbie. this is an example of cobranding. Co-branding is a marketing approach in which numerous brand names are used on the same product or service as part of a strategic collaboration.

Co-branding (or "cobranding") refers to various different sorts of branding collaborations that often involve the brands of at least two companies. The use of two or more brands to name a new product is known as co branding. The ingredient brands collaborate to achieve their goals. The entire synchronisation between the brand pair and the new product has to be kept in mind.

To learn more about Co-branding, click here.

brainly.com/question/12436812

#SPJ4

6 0
1 year ago
What is a trade off?
gizmo_the_mogwai [7]

a balance achieved between two desirable but incompatible features; a compromise.

4 0
3 years ago
Other questions:
  • Herbert spencer believed that societies evolve from lower to higher forms because as generations pass, the most capable and inte
    13·2 answers
  • On November 1, 2016, Cullumber Company places a new asset into service. The cost of the asset is $78500 with an estimated 10-yea
    6·1 answer
  • Maria and Jim have agreed on the objective to help with a canned food drive this week. They want to hang posters around local ne
    10·1 answer
  • A company's flexible budget for 44,000 units of production showed variable overhead costs of $57,200 and fixed overhead costs of
    11·1 answer
  • On January 1, Power House Co. prepaid the annual rent of $10,140. Prepare the journal entry to record this transaction.
    13·1 answer
  • Combination Fraction of Portfolio in Diversified Stocks Average Annual Return Standard Deviation of Portfolio Return (Risk)
    13·1 answer
  • Samples Corporation would like to use target costing for a new product it is considering introducing. At a selling price of $21
    10·1 answer
  • Horizontal analysis evaluates a series of financial statement data over a period of time Group of answer choices that has been a
    12·1 answer
  • the fijian dollar is currently trading for AUD 2.55. if the interest rate in australia is 5.5% and the interest rate in New Zeal
    14·1 answer
  • If the price of verizon cell phones increases, what will happen to the demand curve for verizon sales people?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!