Answer:
See explanation section
Explanation:
Requirement A
Insto Photo Company
Journal Entries
Date Accounts Name Debit Credit
December 1, 2016 Inventory $25,000
Notes payable $25,000
<em>Note</em>: As the merchandise company issued a note for the credit purchase of merchandise inventory, notes payable is used instead of accounts payable.
Dec. 31, 2016 Interest expense $250
Interest payable $250
<em>Note: </em>Adjusting entry is needed as the fiscal year is ended on 31st December, therefore, there will be an accrued interest expense to be paid for one month. The calculation of interest expense = $25,000 × 12% × (30 ÷ 360) [assuming 1 year = 360 days, 1 month = 30 days]. = $250 for one month's accrual.
Requirement B
March 31, 2017 Interest expense $ 750
Interest payable $ 250
Notes payable $25,000
Cash $26,000
<em>Note:</em> At the end of the maturity date, the buyer will pay all the bills of the notes plus interest. Interest payable becomes debit as it did not pay by the buyer on 31st December, 2016. The remaining interest = $25,000 × 12% × (90 ÷ 360) = $750. Total cash will be paid after the maturity = $25,000 + $250 + $750 = $26,000.
Answer:
False
Explanation:
Patricia Borstorff and her associates studied employee willingness to work overseas, i.e. to become expatriates. She found that a large percentage of expatriates suffered problems not only on foreign countries but most importantly at home once their assignment was finished.
Family dysfunction was one of the problems, but it wasn't the most severe one. Many expatriates felt that after coming back home their careers suffered, they felt undervalued and many times suffered depression.
Around 50% of expatriates leave their company after returning to the US within a 3 year period and only a few of those who remain at the company end up in a better position than before.
Answer:
b. $40,000
Explanation:
Step 1. Given information.
Loon Corporation distributes land with a basis of $350,000 and fair market value of $390,000 to Gerald in liquidation of his stock interest.
Step 2. Formulas needed to solve the exercise.
Gain to be recognized by Loon Corporation = Fair market value of the land - Basis
Step 3. Calculation.
Gain to be recognized by Loon Corporation = $390,000 - $350,000 = $40,000
Step 4. Solution.
The correct answer is 2nd. i.e $40,000
Answer:
The answer is: B) False
Explanation:
By definition in a monopolistic competition, all the suppliers offer differentiated products from one another. Their cosmetic product s are already seen as different by the market (both customers and competitors) and no competitive substitute products are available. So the company should start focusing their promotional strategies more on its clients than on their products.
Answer:Oop um hope these helped lol
Explanation:
