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nevsk [136]
3 years ago
9

Appalachian Ski Shop signs a three-month note payable to help finance increases in inventory for the winter ski season. The note

is signed on October 1, 2022 in the amount of $34800 with annual interest of 8%. What is the adjusting entry to be made on December 31, 2022 for the interest expense accrued to that date, assuming that no entries have been made previously to accrue interest? Interest Expense 464 Interest Payable 464 Interest Expense 232 Interest Payable 232 Interest Expense 696 Interest Payable 696 Interest Expense 2784 Note Payable 2784
Business
1 answer:
kolezko [41]3 years ago
3 0

Answer:

Interest Expense 696 Interest Payable 696

Explanation:

Based on the information given the appropiate adjusting journal entry to be made on December 31, 2022 for the interest expense accrued to that date, If we assumed that no journal entries have been made previously to accrue interest is:

December 31, 2022

Dr Interest Expense $696

Cr Interest Payable $696

($34800*8%*3/12)

(To record interest expense accrued)

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Answer:

monopoly, but self-interest often drives them closer to the competitive outcome.

Explanation:

An oligopoly exists when a small number of firms control the resources and price in a market.

They tend to stop each other from having significant influence in the market.

Because of this self interest their monopolistic attribute tends to become more towatds a competitive outcome.

So no one firm has the monopoly of the market rather influence is shared

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2 years ago
Al owned a family high-deductible health policy as part of his MSA for the entire year. What is his maximum permitted contributi
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Well according to my calculations and 20+ yrs of experience in business your answer should be 15,000
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3 years ago
The markets for prostitution in Nevada and New Jersey have two important differences: 1) prostitutes in New Jersey face higher c
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Answer:

Given these facts, which state would you expect the price of prostitution services to be higher? Why?

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7 0
2 years ago
Wrigley introduced a new flavor of Orbit brand sugar-free chewing gum, mint mojito, and its introductory price was low so that i
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In this example, Wrigley used the Penetration pricing.

Penetration pricing is one of marketing strategy which aims to attract potential customers by offering lower price as its initial offering.

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In the question, the introductory price for chewing gum, mint mojito were set low and aims to attract new customers to the product.

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<em>brainly.com/question/3521758</em>

3 0
2 years ago
A rich relative has bequeathed you a growing perpetuity. the first payment will occur in a year and will be $ 3 comma 000$3,000.
MAVERICK [17]
A. For knowing today's value of the bequest we need to know the period of time.
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8 0
3 years ago
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