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nexus9112 [7]
2 years ago
14

Post Company lends Blue Company $40,000 on April 1, accepting a 4 month, 4.5% interest note. Post Company prepares financial sta

tements on April 30. What adjusting entry should they make?
Debit note receivable $40,000; Credit Cash $40,000

Debit interest receivable $150; Credit interest revenue $150

Debit cash $150; Credit interest revenue $150

Debit interest receivable $600; Credit interest revenue $600
Business
1 answer:
creativ13 [48]2 years ago
4 0

Answer:Debit interest receivable $150; Credit interest revenue $150--- B

Explanation:

Interest Receivable =  Principal x Rate x Time ( from  April 2st to 31st--Imonth)

$40,000 x 4.5% x 1/12

= $ 150

Journal entry to record amount on interest note on  April 31st

Date           Account  titles                     Debit                    Credit

April 31st     interest receivable             $150

interest revenue                                                                   $150

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Marketing firms strive to ensure that people are aware of their products because people assume that if they have heard about cer
madam [21]

Answer:

Exposure Bias

Explanation:

Basically, exposure bias states that consumer are more likely to buy brands which have higher brand recognition than new companies with no name recognition.

6 0
3 years ago
Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lou who, in turn, indorses it to Mona, wh
STatiana [176]

Answer:

a. Jake, Kim, or Lou.

Explanation:

A promissory note is a note that should be signed with written promise in terms of paying some specific amount to the note owner on a specifiic date or on demand.

Since in the question it is mentioned that Jake who is a maker and pay to Kim and then it would endorse to Lou

So here the Mona should collect the payment from the above three parties

hence, the correct option is A.

7 0
3 years ago
Howard Cho has been hired by Greenwood Enterprises to work on an assembly line in its small engine division. He understands that
tiny-mole [99]

Answer: Union

Explanation:

The options to the question,:

A Open

B. Managed

C. Union

D. Closed

E. Agency

From the question, we are informed that Howard Cho has been hired by Greenwood Enterprises to work on an assembly line in its small engine division and that he understands that he will be on probation for 30 days and then must join the union. This implies that Cho enterprise has a union shop.

A union shop is a form of a union security clause whereby the employer may employ workers who are into the union or those who don't but those that are not yet union members will have to join after a 30 days period.

8 0
3 years ago
The lower of cost or market approach is Blank______ for companies that use Blank______. Multiple choice question. required under
LenaWriter [7]

The lower cost or market approach is (C) required under GAAP for companies that use  LIFO or retail inventory.

<h3>What is market approach?</h3>
  • The market approach is a method of evaluating an asset's worth based on the selling price of comparable assets.
  • Along with the cost technique and discounted cash-flow analysis, it is one of three main valuation methodologies (DCF).
  • Companies that use LIFO or retail inventory are obligated by GAAP to use the lower cost or market method.
  • A realtor, for example, can gather information on comparable real estate sales in close vicinity to a client's property and modify those values to account for differences in land area and building square footage to arrive at a market-based valuation for the targeted property.

Therefore, the lower cost or market approach is (C) required under GAAP for companies that use  LIFO or retail inventory.

Know more about the market approach here:

brainly.com/question/8084221

#SPJ4

The complete question is given below:

The lower cost or market approach is _____ for companies that use _____.

a. optional under GAAP; LIFO or the retail inventory

b. optional under GAAP; any method of inventory valuation

c. required under GAAP; LIFO or the retail inventory

d. required under GAAP; any method of inventory valuation

7 0
1 year ago
NewDigger Inc. makes backhoes for digging ditches and trenches. It has developed an environmental-friendly liquid that, when pou
Vinvika [58]

Answer: breakthrough                    

Explanation: In simple words, breakthrough project refers to a project which results or has a potential to result as a sudden and huge development for the organisation.

In the given case, the new chemical product by the organisation is a new invention and can ease the job of the field workers.

Hence it can prove as a breakthrough for new digger.

5 0
3 years ago
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