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Ugo [173]
3 years ago
11

On July 1, 2008, Blitzer Inc. signed a one-year, 6% interest-bearing note payable for $5,000. Blitzer Inc. has a December 31 yea

rend. The amount of interest expense that should be reported in the 2008 income statement for this note (rounded to the nearest dollar) would be
Business
1 answer:
marishachu [46]3 years ago
5 0

Answer:

interest expense = $150

Explanation:

the journal entry to record accrued interest:

December 31, 2018, accrued interest from note payable

Dr Interest expense 150

    Cr Interest payable 150

interest expense = principal x interest rate x time = $5,000 x 6% x 6/12 = $150

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Answer:

The answer is D.

Explanation:

An increase in the market rate of interest of a bond will decrease the market price of the bond. Market rate of interest of a bond is inversely related to the market price of the bond.

For example, A bonds is issued with a higher interest rate, the price of existing bonds will fall because the demand for this bond falls.

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A work breakdown structure must be decomposed at least four levels in order to be effective. true false
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A work breakdown structure must be decomposed at least four levels in order to be effective- FALSE

   By adopting task breaking, a popular productivity technique, workload can be made more reasonable and approachable. The instrument used to apply this method to projects is the Work Breakdown Structure (WBS), one of the important project management papers. To ensure that project plans are in sync, it does it on its own by combining size, cost, and schedule baselines.

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4 0
1 year ago
Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions
liberstina [14]

Answer:

April 1 Invested $20,000 cash in her business.

Dr Cash 20,000

    Cr Vera, Ernst, capital 20,000

1 Hired a secretary-receptionist at a salary of $700 per week payable monthly.

no journal entry required

2 Paid office rent for the month $1,500.

Dr Rent expense 1,500

    Cr Cash 1,500

3 Purchased dental supplies on account from Dazzle Company $4,000.

Dr Supplies 4,000

    Cr Accounts payable 4,000

10 Performed dental services and billed insurance companies $5,100.

Dr Accounts receivable 5,100

    Cr Service revenue 5,100

11 Received $1,000 cash advance from Leah Mataruka for an implant.

Dr Cash 1,000

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20 Received $2,100 cash for services performed from Michael Santos.

Dr Cash 2,100

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30 Paid secretary-receptionist for the month $2,800.

Dr Wages expense 2,800

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30 Paid $2,600 to Dazzle for accounts payable due.

Dr Accounts payable 2,600

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6 0
3 years ago
The distribution department at Golden Grains Wheat Company has decided to adopt the FIFO (first in, first out) method of invento
Akimi4 [234]

Answer:

Option B "functional strategy " is the correct option.

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And therefore this strategy demonstrates best the specific situation.

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3 years ago
True/False - According to CP-38 Disclosure of Affiliated Business Arrangements, a licensee is required to disclose any affiliate
baherus [9]

Answer:

True

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