Answer:$0
Explanation:
Because because Black must actually grant a bonus to Hewlett and Martin
Answer:
<u>debited</u>
Explanation:
Partnership refers to a mutual agreement wherein two or more individuals agree carry out a business and to share profits and losses in a specified ratio or as per the clauses of the partnership deed.
When partners retire, the balances standing to the credit of their capital accounts needs to be settled or paid off.
As per the given information, Wilma is paid $45000 in cash. The journal entry in this case would be:
Wilma's Capital A/C Dr. $45000
To Cash A/C $45000
For the remaining balance, Wilma shall be paid in cash as follows,
Wilma's Capital A/C Dr. $5000
To Cash A/c $5000
(Being settlement of a retiring partner's capital account being recorded)
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:
$1,200,000
Explanation:
Jack Corporation
Carrying value before net loss:
($1,500,000 - (20% x $1,000,000))
=$1,500,000-$200,000
= $1,300,000
Jack's share of net loss recognized in full:
20% x $6,000,000
= $1,200,000
Therefore the amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill will be $1,200,000
Answer:
stimulating economic growth
Explanation:
Expansionary monetary policies are the action by the Fed that aims at stimulating economic growth. They aim at increasing the money supply in the economy. Examples of expansionary monetary policies are open market purchases, reduction of the discount rate, and reduction in the reserve requirement ratio.
Expansionary monetary policies stimulate economic growth by encouraging investments and consumption spending. When the discount rate is reduced, interest rates reduce automatically. Banks will loan out more when they a lot of money in their custody. Expansionary monetary policies are applied when there is a slowdown in economic growth.
