Answer:
Journal Entry and their narrations is shown below:-
Explanation:
1. Notes receivable Dr, $610,000
To Sales revenue $610,000
(Being Sales revenue is recorded)
2. Cost of goods sold Dr, $500,000
To Inventory $500,000
(Being cost of goods sold is recorded)
3. Cash Dr, $610,000
To Notes receivable $610,000
(Being collections of notes receivable is recorded)
Answer:
True
Explanation:
Homeowner's personal liability insurance protects against personal accidents that can happen in your house as long as they are not intentional. The coverage includes accidents that happen to visitors including:
- medical bills
- pain and suffering
- lost wages
- death benefits
- legal costs
Answer:
10.51%
Explanation:
The computation of the bond equivalent yield is shown below:
Given that
Par value at redemption = $10,000
Bond price = $9,720
Number of days of maturity = 100 days
Now
Profit of holding this bond = Par value at redemption - Bond purchase price
= $10,000 - $9,720
= $280
Now yield from the 100 days
= profit from holding the bond ÷ Purchase price of the bond
= $280÷ $9,720 × 100
= 2.88
Now the yield annualized is
= 2.88 × 365 days ÷ 100 days
= 10.51%
Answer:
The answer is: C) Net purchases plus beginning inventory equals merchandise available for sale
Explanation:
The best way to show how this equation works is by assigning values to the accounts;
- initial merchandise inventory was 2,000 units, at $10 per unit, total $20,000
- merchandise purchased was 4,000 units, at $10 per unit, total $40,000
How many units do we have available for sale, and at what cost?
We add initial merchandise inventory and merchandise purchased = 6,000 units at $10 per unit, total $60,000
Answer:
individual transfer rights system.
Explanation:
Some countries use market-based systems to help control access to fisheries. One such program is the individual transfer rights system.
An individual transfer rights (ITR) system can be defined as a system in which the government of a particular country gives each fishing vessel or owner a specific percentage of the total fish allowable to be caught each year.
