Barney appears to be very impressed by the candidate's non-verbal communication skills.
During the first year of operations, a company granted warranties on its products at an estimated cost of $8,500. The product warranty expense should be recorded in the years of the expenditures to repair the products covered by the warranty payments.
True or False
the answer is false
Answer:TTG Landscaping Journal $
1.Dump truck Dr 150,000
Sales tax Dr 12,000
Logo. Dr. 200
Vehicle License Dr 900
Accident insurance Dr 2400
Cash. CR. 165,500
Narration. Being cost incurred on Dump truck and additional expenses incurred to make it usable.
2.
Dump truck Dr1 5500
Sales tax Cr 12,000
Logo. Cr. 200 Vehicle License Cr. 900
Accident insurance. CR 2400
Narration. Transfer of additional cost incurred on Dump truck purchase to Dump truck Accounts
The cost of an asset includes the purchase price, tax theron and other cost incurred to make it usable.
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These emotions and behaviors that Jenny exhibits comprise her <u>personality</u>.
Also defined as the set of habitual behaviors, cognition and emotional patterns.
Answer:
The required adjusting entries before the financial statements can be prepared are:
Debit Note receivable $39,600
Credit Cash $39,600
<em>(To record note receivable)</em>
Debit Interest receivable $264
Credit Interest revenue $264
<em>(To record interest receivable on note - March 31)</em>
Explanation:
Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.
Interest revenue on the note is calculated as: Principal x Interest Rate x Time
In this case, the total interest revenue is $39,600 x 8%/12 x 4 months = $1,056.
Monthly interest revenue is therefore $1,056 / 4 months = $264.