Answer:
capitalize the new cost as an asset to be amortized over future periods expected to benefit
Explanation:
A capitalized cost is a cost which is added to the cost basis of a fixed asset on a company's balance sheet. This Capitalized costs are sustained from the purchase or construction of fixed assets. Example of such costs are costs of materials, sales taxes, labor, transportation, and interest incurred to finance the construction of the asset.
This is usually done for items that would be used over a long period of time, therefore the item is capitalized and amortized or depreciated over its future periods.
Answer:
Journalize the following transactions for the Scott company:
Nov 4. Received a $6,500, 90-day, 6% Note from Michael Tim's in payment of his account.
Dr Notes receivable 6,500
Cr Accounts receivable 6,500
Dec 31. Accrued interest on the Tim's note.
Dr Interest receivable ($6,500 x 6% x 57/365) = 60.90
Cr Interest revenue 60.90
Feb 2. Received the amount due from Tim's on his note.
Dr Cash 6,596.16
Cr Notes receivable 6,500
Cr Interest receivable 60.90
Cr Interest revenue 35.26
I did all my calculation based on a 365 day calendar year. Generally banks calculate interest on a 360 day calendar year.
3. Both of you, because you both like the jeans
Descriptive research casual research predictive research and exploratory research.
So stuff like....
Product testing
Advertising testing
Satisfaction and loyalty analyst
brand awareness and reach
pricing research
The best way to establish good credit is to open a savings account and a checking account, and manage them both well. Another good way to establish credit is to get a credit card and make small purchases with it.
What is credit card?
A credit card is a type of payment card that is given to customers (cardholders) to allow them to pay a merchant for products and services according to the amount of debt they have accumulated. The card issuer (typically a bank or credit union) establishes a revolving account and provides the cardholder with a line of credit from which they can borrow money to pay for purchases or receive a cash advance. Consumer credit cards as well as business credit cards are the two types of credit cards. The majority of cards are made of plastic, but some are made of metal (<u>stainless steel, gold, palladium, titanium</u>), while others have gemstones embedded in the metal.
To learn more about credit card
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