Answer:
Notes Payable, $10,000
Explanation:
The journal entry when the amount is borrowed is as:
On January 1
Cash A/c.........................Dr $10,000
Notes Payable A/c......Cr $10,000
Being amount borrowed from bank by signing the note
The journal entry which is to be recorded when made payment in full
On March 1
Notes Payable A/c...............................Dr $10,000
Interest A/c............................................Dr $133
Cash A/c..................................................Cr $10,133
Being the amount paid in full
Working Note:
Interest = Amount borrowed × 8% × Days / Number of days
= $10,000 × 8% × 60/365
= $133
Answer: D. is reported on the income statement separately, or as a part of Other Income and Expense, depending on its significance.
Explanation: Unrealized losses are losses that have been inputted on paper, but the corresponding transactions have not been completed. They are also known as paper loss, due to their being recorded on paper; and are changes in the value of assets or liabilities that have not yet been settled. They are reported on the income statement separately or as a part of other income and expense (accumulated comprehensive income), usually found in the equity section of the balance sheet.
Answer:
True.
Explanation:
True, The given situation is true because the pleasure (utility) provided by Alpha is greater than the pleasure (utility) provided by the Beta. Therefore, a rational person will buy only that commodity which has a higher utility. Here, we can see the Alpha provides 10 units of utility or pleasure per dollar while Beta provides 8 units of utility or pleasure per dollars. So, only Alpha will be chosen.
From the graphs presented for both the perfect competition and monopoly, the price for 5 purses in perfect competition is $30 and that in the monopoly is $50. The price is obviously lower in the perfect competition than in monopoly by $20. Thus, the answer would be letter C.
