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Gemiola [76]
3 years ago
15

Required information

Business
1 answer:
DaniilM [7]3 years ago
5 0

Answer:

Dr Employee benefits expenses 32,000

Cr Employee medical insurance payable 12,000

Cr Employee retirement program payable 20,000

Explanation:

Preparation for the December 31 entry for Marr

Dr Employee benefits expenses 32,000

(20,000+12,000)

Cr Employee medical insurance payable 12,000

Cr Employee retirement program payable 20,000

($200,000*10%)

(Being to record employee benefits expenses)

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Flipco signed a 10​-year note payable on January​ 1, 2018​, of $ 800, 000. The note requires annual principal payments each Dece
kirill115 [55]

Answer:

A. a debit to Interest Expense for $ 36, 000

Explanation:

Based on the information given we were told that Flipco has note payable on January​ 1, 2018, of the amount of $800,000 and on December 31 we were told that the loan requires annual principal payments of the amount of $80,000 in addition with 5​% interest. This means that the Journal entry to record the transaction on December​ 31, 2019​ will includes a Debit to interest expense for $36,000 calculated as :

Interest expense= $800,000-$80,000

Interest expense=( $720,000* 5%* 12/12)

Interest expense =$36,000

Therefore the Journal entry to record the annual payment on December​ 31, 2019​ will includes :

A Debit to interest expense for $36,000

7 0
3 years ago
Ralph gives his daughter, Angela, stock (basis of $8,000; fair market value of $6,000). No gift tax results. If Angela subsequen
spayn [35]

Answer:

Her recognized gain is $2,000

Explanation:

Data provided in the question:

Stock basis = $8,000

Fair market value = $6,000

Sale value = $10,000

Now,

Ralph's daughter  recognized gain or loss will be

= Sale value  - Stock basis

or

Ralph's daughter  recognized gain or loss = $10,000 - $8,000

or

Ralph's daughter  recognized gain or loss = $2,000

Here,

the positive value means that there is a gain.

Hence,

Her recognized gain is $2,000

8 0
3 years ago
A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has a(n) ________ poli
UkoKoshka [18]

Answer:

The correct answer that fills the gap is Pulling.

Explanation:

This activity corresponds to Inbound Marketing, which is also called Attraction Marketing 2.0. This type of marketing is a marketing technique that aims to attract potential customers (prospects) through information of interest using different content formats (articles, videos, animations, infographics, ebooks, etc.) in the channels of digital communication of the company (blog, social networks, electronic newsletters, etc.). Attraction Marketing, instead of focusing directly on sales, as does more traditional marketing (sometimes known as interruption marketing), focuses on providing information to the potential consumer, so that it takes that company by an expert in the theme.

6 0
3 years ago
Danube Corp. purchased a used machine for $ 10 comma 000. The machine required installation costs of $ 4 comma 000 and insurance
melamori03 [73]

Answer:

The correct answer is B. $14,500

Explanation:

According to the accounting concept, the machines cost includes all those cost which is related to the machine like -  purchase cost of machine, installation cost of machine, insurance cost,etc.

So,

Total cost of machine = Purchase cost of machine + installation cost of machine +  insurance cost

= $10,000 + $4,000 + $500

= $14,500

Hence, the total machine cost is $14,500 which is to be recorded in the financial statements.

Thus, the correct answer is B. $14,500

7 0
3 years ago
How did capitalism fuel industrialization?
Katena32 [7]
<u><em>Capitalists want to make money . . . the best way to do that is to make businesses/production more profitable by increasing production to a large scale (i.e. industrialization)</em></u>
4 0
3 years ago
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