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V125BC [204]
3 years ago
11

On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $45,000. Alan made the appropriate year-end

accrual. What is the journal entry as of March 1 to record the payment of the note assuming no reversing entry was made
Business
1 answer:
shepuryov [24]3 years ago
8 0

Answer:

Debit Notes Payable $45,000; debit Interest Payable $750; debit Interest Expense $750; credit Cash $46,500

Explanation:

The journal entry is given below:

Notes payable $45,000  

Interest payable ($45,000 × 10% × 60 ÷ 360) $750  

Interest expense ($45,000 × 10% × 60 ÷ 360) $750  

            To Cash $46,500

(Being payment of notes payable is recorded)

here note payable, interest payable, interest expense is debited as it increased the expenses and decreased the liabilities while on the other hand the cash is credited as it decreased the assets

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If a county government decided to build parks, then the money and resources would not be available for additional fire fighters.
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a. Misallocation of resources

Explanation:

Misallocation of resources implies that assets are not put to their best, best, or proficient use. The utilization of the term misallocation in financial matters is that market analysts recognize two kinds of efficiencies: productive and allocative. The productive alludes to the (effective) utilization of assets to deliver given merchandise and ventures. The allocative alludes to which merchandise and enterprises ought to be created, and who ought to get the opportunity to devour them. Financial matters are generally worried about allocative thought of productivity.

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3 years ago
Darren has borrowed $100$ clams from ethan at a $10\%$ simple daily interest. meanwhile, fergie has borrowed $150$ clams from ge
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Answer:

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Explanation:

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7 0
2 years ago
There are 12 general categories of threat to an organization's people, information, and systems. List at least six of the genera
Alenkinab [10]

Answer:

1. Human Error: an example is disregard to safety measures.

2. Compromises to Intellectual Property: an example is piracy of an organization's product.

3. Forces of Nature: an example is earthquake.

4. Information extortion: an example is coercion or blackmail.

5. Quality of service deviation: an example is an epileptic or poor power supply.

6. Industrial espionage: an example is unethical hacking of data.

Explanation:

A threat to an organization's people, information, and systems is basically any circumstances or events that poses a potential danger, damage or adverse affect to its smooth running.

These threats can be classified into six (6) categories and these are;

1. Human Error or failure: this are errors that arise as a result of having incompetent employees (slips and lapses) or mistakes stemming from the workers. <em>An example of human error is an employee that disregard safety measures. </em>

2. Compromises to Intellectual Property: this usually occurs when an intellectual property is stolen illegally from an organization. <em>An example is piracy of an organization's product.</em>

3. Forces of Nature: this is usually caused by a natural disaster. <em>Examples of forces of nature are flood, earthquake, fire etc. </em>

4. Information extortion: this arises when sensitive data about an organization is held through <em>coercion, bribery or computer hacking</em>.

5. Quality of service deviation: this would occur when there's a shortage in the quality of service received by an organization, contrary to what is expected or required. <em>Examples are poor power supply, poor internet service etc. </em>

6. Industrial espionage: this is as a result of loosing sensitive data to <em>unauthorized individuals or hackers.</em>

7 0
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kvasek [131]

Answer:

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