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mixas84 [53]
3 years ago
11

On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturi

ty. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period.
Business
1 answer:
taurus [48]3 years ago
5 0

Answer and Explanation:

The journal entries are shown below:

Cash $84,000,000  

         To Notes payable  $84,000,000

(Being issuance of the note is recorded)

Interest expense($84,000,000 × 15% × 3 ÷ 12) $3,150,000  

          To Interest payable  $3,150,000

(Being interest expense is recorded)

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Ugo [173]
To find the fixed cost, we need add all costs that do not change with the number of haircuts. These are the salaries of the barbers and the manager bonus, the advertisement fees, rent and the magazines. We also have the standard part of the utility payment, the 170$. Those add up to:
6*1310+520+280+980+20+170=9830$. We also have regarding the variable costs:
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6 0
3 years ago
An economy has a current inflation rate of 7%. if the central bank wants to reduce inflation to 4% and the sacrifice ratio is 2,
Mrrafil [7]

6%  annual output must be sacrificed in the transition.

Annual output is the sum of the Annual Production for a given year plus the amount of Poly Purge recycled for that year, or a fraction thereof.

A unit of annual output is the total amount of products or services produced in a certain time frame (for instance, a year). The number of units of a single good produced by a company in a certain period of time, such as a month or a year, is its output. something created, for example. steel output, mineral, agricultural, or industrial production. B: Intellectual or creative output Literature. C: The quantity a person produces in a specific period of time.

Learn more about annual output here

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6 0
2 years ago
If merchandise inventory is being valued at cost and the price level is steadily rising, the method of costing that will yield t
Anastaziya [24]

Answer:

FIFO

Explanation:

FIFO inventory system means the first purchased inventory are the first to be sold.

The LIFO inventory system means the last purchased inventory are the first to be sold.

The average cost inventory system means that the average cost of inventories are used as the cost of the goods sold.

For example, if a business has a beginning inventory of 5 biros at $2 each. On the first of December, the business purchased 10 pens at $2.50. On the 10th, 5 pens were purchased at $3. 15 pens are sold at $5 each. If the FIFO inventory system is used, the cost of goods sold would be = (5×$2)+(10×$2.50) = $35

Total revenue = $75

Net profit = $40.

If the LIFO inventory system is used, the cost of goods sold =(10 × $2.50) + (5×$3) = $40

Net profit = $35

The net profit is higher using the FIFO method.

I hope my answer helps you

3 0
4 years ago
Many factors influence a consumer’s purchase. Consumer behavior is affected by both interpersonal influences, which address ho
umka2103 [35]

Answer: A. True because everything has happened has many effects for many different behaviors in people’s lives.
7 0
3 years ago
[30 PTS + BRAINLIEST]
saw5 [17]

Answer:

C

Explanation:

A farmer would want to look at the economic status of the US because his goal is to sell as much wheat as possible and make the most profit. If he pays no attention to the economy and there's a recession but he still sells his wheat at the normal price, people whose stocks are going down and who are losing money will be unable to, and unwilling to, pay the price. Thus, the farmer must inspect the changing economic statuses of the US to determine the best and most effective way to market out his wheat to the public.

Changes in US racial patterns have no impact on the marketing of the farmer's wheat, so A is incorrect.

The number of births per year is also irrelevant, as is the general population growth numbers because these do not affect the way the farmer will market his crops, so B and D are incorrect.

Hope this helps!

3 0
4 years ago
Read 2 more answers
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