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Harman [31]
2 years ago
11

Admire County Bank agrees to lend Sheffield Brick Company $614000 on January 1. Sheffield Brick Company signs a $614000, 8%, 9-m

onth note. The entry made by Sheffield Brick Company on January 1 to record the proceeds and issuance of the note is:______________.
Business
1 answer:
AleksAgata [21]2 years ago
4 0

Answer:

January 1

Cash                                    614000 Dr

   Notes Payable                      614000 Cr

Explanation:

The Sheffield Brick Company has borrowed from the Admire county bank which means the note payable is a liability in the books of the Sheffield Brick company. As liability is increased or recorded, it is credited. The amount of liability is $614000 on the day of the issuance of note. Thus, Sheffield will credit Note payable by $614000.

The Sheffield company has received cash by signing note. As cash is an asset and it is increasing, the Sheffield company will debit cash by 614000 against the notes payable.

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Why does manufacturing's multiplier effect matter to an economy?
irga5000 [103]

Answer:

It has a greater impact than service industries.

Explanation:

6 0
2 years ago
Which best ranks Agriculture, Food, and Natural Resources careers from highest to lowest required degree? Veterinarian → Nursery
pshichka [43]

Answer

Food is what we get from agriculture.

To rank the given option from the highest to lowest degree of importance, we need to do a little research on the each of the individual subjects.

these can be arranged in the following order.

(1) Food

(2) agriculture

(3) natural resources careers.

5 0
3 years ago
Read 2 more answers
Max and nora have modified agi of $75,000, and adopted a little boy from san antonio, texas, in the current year and incurred a
miskamm [114]

Answer:$9,000

Explanation:

The tax credit offered to adoptive parents to encourage adoption is reffered to as ADOPTION TAX CREDIT. The adoption tax credit is a nonrefundable tax credit. This means that people owing taxes are also fit or qualified to apply for the adoption tax credit.

In the United States of America, adoption tax credit qualified expenses include court costs, traveling expenses, lawyer's or Attorney's fee and other expenses for legal adoption of an eligible child.

It can be calculated by subtracting

the max's employer provided for the couple with adoption benefits of $4,000 from the incurred expenses of a total of $13,000 in qualified adoption expenses(from the question).

That is; $13,000-$4,000.

= $9,000.

Hence, the maximum amount of adoption credit they can take this year is $9,000.

4 0
2 years ago
Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 4% of credit sales will
OverLord2011 [107]

Answer:

$3760

Explanation:

Calculation to determine the December 31 balance in Bad Debt Expense

Using this formula

Bad debt expense = Credit sales × Uncollectible percentage

Let plug in the formula

Bad debt expense= $94,000 × 4%

Bad debt expense= $94,000 × 0.04

Bad debt expense= $3760

Therefore the December 31 balance in Bad Debt Expense will be $3760

8 0
2 years ago
The _________ is the content or general message of a conversation or what the conversation is about. a. business b. impersonal c
statuscvo [17]

Answer:

a. business

Explanation:

The opening is the beginning of the message.

The closing is the end of the message.

I hope my answer helps you

8 0
3 years ago
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