Complete Question:
Incurring an expense for advertising on account would be recorded by:
Group of answer choices
A) Debiting a liability account.
B) Crediting an asset account.
C) Debiting an expense account.
D) Debiting an asset account.
Answer:
C) Debiting an expense account.
Explanation:
Incurring an expense for advertising on account would be recorded by debiting an expense account.
This ultimately implies that, when a business firm incurs an expense such as on advertising its goods or services, the appropriate account on the balance sheet to record this will be to debit the advertising expense account and then credit the account payable.
Answer:
C. $20,000
Explanation:
Note that we are talking about the listing commission. Listing commission will be calculated on the listed price.
So, the listed price will be = 400,000 * 5%
= $20,000
Thus, the commission most likely paid to the real estate agent is $20,000
Answer:
10.70%
Explanation:
NPER = 12*2 = 24
PMT = 40
PV = -820
FV = 1000
Pretax Cost of Debt = Rate (NPER, PMT, -PV, FV) * 2
Pretax Cost of Debt = Rate(24, 40, -820, 1000) * 2
Pretax Cost of Debt = 0.0535 * 2
Pretax Cost of Debt = 5.35% * 2
Pretax Cost of Debt = 10.70%
Answer:
The correct answer is 1.25.
Explanation:
According to the scenario, the given data are as follows:
Upper specific limit = 2,600 hours
Lower specific limit = 1,700 hour
Standard deviation =120 hours
So, we can calculate the capability ratio by using following formula:
CP = (Upper specific limit - Lower specific limit) ÷ ( 6 × deviation)
= ( 2,600 hours - 1,700 hours) ÷ ( 6 × 120 )
= 900 hours ÷ 720
= 1.25
