The accounts payable account is a/an option C: <u>liability; credit, </u>and it has a normal.
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What do you mean by Account payable?</h3>
A account payable is refers to as the monet owned by a company to its supplies and its represent in the firm's balance sheet.
The main role of account payable os to provide financial, administrative and clerical support to the firm. Their main role include complete the whole payment and control expenses.
Moreover, it is considered as the liability for each business because the company have to pay back its all due on particular period of time and it is credit in nature.
Hence, rest all options like A, B and D are incorrect because it does not considered under the account payable account.
Therefore, correct option is C.
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I interviewed a local talent management firm's about her business problem that they currently experienced.
Currently, they faced problem from the power of social media. In the past, many artists relied on talent management firm to gain exposure, but today, they can find that exposure through social media. (i.e : youtube, facebook)
Answer:
c. Debit to Fair value adjustment for $30,000
Explanation:
The first step of accounting process is Journal entry and it is made to record the transactions for process of book keeping, it defines the accounts involved and effects of transactions on the account by debit or credit.
As the bond price is amortized earlier by 5,000 then its net realizable value was $195,000 ( $200,000 - $5,000 ). on December 31, year 3 the fair value adjusted to $225,000. so the adjusted value will be $30,000 ( $225,000 - $195,000 ). The journal entry is as follow
Dr. Cr.
Dec 31, year 3
Fair value adjustment account 30000
Unrealized gain on available for sale securities 30000