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2 years ago

the journal entry to record the issuance of a note for the purpose of converting an existing account payable would be

1 answer:

7 0

Answer: The journal entry a company uses to record the issuance of a note for the purpose of converting an existing account payable would be debit Accounts Payable; credit Notes Payable.

Explanation:

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Jessica spends all her income on two goods, A and B. The price of A is $5, and the price of B is $7. At the current consumption

masha68 [24]

Answer:

Jessica should consume more of good A.

Explanation:

Jessica spends all her income on two goods, A and B.

The price of A is $5, and the price of B is $7.

At the current consumption bundle, the marginal utility of A is 10, and the marginal utility of B is 21.

The total utility is maximized when the ratio of marginal utility and price of the goods consumed is equal for all the goods in the bundle.

The ratio for Good A

= $\frac{10}{5}$

= 2

The ratio for good B

= $\frac{21}{7}$

= 3

Since the ratio is higher for good B, the consumer should shift from consumption of good B to good A until the ratio is equal for both the goods.

5 0

3 years ago

In 2021, its first year of operations, Kimble Corp. has a $900,000 net operating loss when the tax rate is 20%. In 2022, Kimble

Helen [10]

Answer and Explanation:

Kimble Corp entries in 2021 to record the tax effects of the loss carryforward

a)Dr Deferred Tax Asset ($900,000 × 20%) 180,000

Cr Benefit Due to Loss Carryforward $180,000

Dr Benefit Due to Loss Carryforward $180,000

Cr Allowance to Reduce Deferred Tax Asset to Expected Realizable Value $180,000

(b)

Dr Income Tax Expense ($250,000 × 20%) $50,000

Cr Deferred Tax Asset $50,000

Dr Allowance to Reduce Deferred Tax Asset to Expected Realizable value $50,000

Cr Benefit Due to Loss Carryforward $50,000

5 0

3 years ago

Which of these careers is most likely to be appropriate for a person who values adventure?

Zanzabum

Photojournalist or a smoke jumper?

8 0

3 years ago

Read 2 more answers

Misty Mountain Shop is considering purchasing a new piece of equipment that would be used for 6 years. The cost savings from the

Allisa [31]

Answer:

NPV = $ 87,592.90

Explanation:

Net present value is calculated by taking the Present Day (discounted) value of all future Net Cash Flow based on the Business Cost of Capital and subtracting the Initial cost of the Investment.

<u>Calculation of Net present value (Financial Calculator)</u>

Period and Cash flow

CF0 = ($900,000)

CF1 = $200,000

CF2 = $200,000

CF3 = $200,000

CF4 = $200,000

CF5 = $200,000

CF6 = $300,000

Cost of Capital = 8%

NPV = $ 87,592.90

8 0

3 years ago

Assume there are only three possible states of nature for the economy in the future: boom, normal, and recession. If there is a

BartSMP [9]

Answer:

a. 45%

Explanation:

The sum of total probabilities is always equal to 1. Since in the given question only three probabilities are given, so the sum of these three probabilities shall be 1 which is represented as follows by the equation:

probability of boom+probability of normal+probability of recession=1

In the given question:

probability of boom=30%

probability of recession=25%

30%+probability of normal+25%=1

Probability of normal=1-25%-30%=45%

So based on the above calculations, the answer shall be a. 45%

7 0

3 years ago