Answer:
The Journal entry that Oriole Company will make to pay off the note and interest at maturity assuming that interest has been accrued to September 30 will be:
Dr Notes Payable 560,000
Dr Interest Payable 25,200
(560,000*6%*9/12)
Cr Cash 585,200
(560,000+25,200)
Explanation:
Based on the information given where Moss County Bank agrees to lend the Oriole Company $560000 on January 1 this means we have to Debit Note payable with 560,000 and since Oriole Company signs a $560000, 6%, 9-month this means we have to Debit Interest payable with 25,200 (560,000*6%*9/12) and Credit Cash with 585,200 (560,000+25,200).
Answer:
C $30,000
Explanation:
. A $30,000 result has a 35 percent chance of occurring, but the entity cumulatively has a 55 percent chance of receiving at least a $30,000 tax benefit. As a result, $30,000 is the appropriate amount to recognize.
Answer:
the required reserve is $8,400
Explanation:
The computation of the required reserve is shown below;
Required reserves is
= reserve requirement × Checkable deposits
= 4% × $210,000
= $8,400
By mutiplying the reserve requirement with the checkable deposit we can determine the required reserve
hence, the required reserve is $8,400
Answer:
E. All of the above
Explanation:
The cost of the land could be computed by adding the purchase price of the land, its assessment done by the local governments, removing cost of the existing buildings, insuring fees for the title
Therefore as per the given situation, it includes all the things mentioned in the question
Therefore the correct option is E
hence, the same is to be considered
Answer: True. Indirect Denial method should be considered before direct method.
Explanation: The indirect denial method of dealing with a customer is a method in which the customer is first agreed with when expressing a wrong objection. In this method, the customer's argument is first held to be valid, and this is done in order to create a level of trust or confidence with the customer.
After rapport has been established, evidence can then be brought to dispute the customer's claims.
By using the method, the customer doesn't feel threatened or alarmed from the onset and a heated argument will be avoided.
Direct denial method is the opposite of indirect denial method, in this case, strong arguments are used to oppose a customer's claims to show that they have made a mistake.
