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pashok25 [27]
2 years ago
7

Burrows, Inc. borrowed $100,000 from Last Bank by signing a formal agreement to repay the bank in 10 years. Burrows' journal ent

ry to record this transaction will include a debit to ______.
Business
1 answer:
DanielleElmas [232]2 years ago
3 0

Burrows' journal entry to record this transaction will include a debit to Cash.

<h3>Journal entry:</h3>

Based on the information given if Burrows borrowed the amount of $100,000  by signing a formal agreement to repay the bank the appropriate journal entry to record this transaction will include:

Burrows journal entry

Debit Cash $100,000

Credit Notes payable $100,000

(To record notes payable)

Inconclusion Burrows' journal entry to record this transaction will include a debit to Cash.

Learn more about journal entry here:brainly.com/question/14279491

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With this in mind, are accountants ethically obligated to report financial information accurately? Does reporting using the gene
raketka [301]

Answer:

1. Accountants are ethically obligated to report financial information accurately

2. Reporting using the generally accepted accounting principles underscore on accuracy

3. Loss of confidence, lack of trust on the accounting team, a huge strain on their professional judgement and ethics.

Explanation:

1. Financial information in itself possesses some vital characteristics. One of these is the accuracy of the financial information. As the handler of financial activities, accountants are therefore saddled and ethically obligated to present and prepare their information accurately. This is so as to reflect the true picture of the going in the organization.

2. Reporting using GAAP - Generally Accepted Accounting Principles, seeks to converge the presentation of financial reports and statements on the basis of accuracy. Thus, reliability and relevance are ultimately the foremost objectives of these principles. I therefore have no doubt its usage conveys accuracy of reports.

3. Loss of confidence - financial reports through which the external analyst worked upon are often prepared by the internal staffs. The implication of a wrong and misleading reports from the company is an erosion of confidence on the credibility, reliability and competence of company's preparers of reports.

Lack of trust - The point above ultimately impacts on the level of trust placed on the accuracy, reliability and relevance of financial reports.

Professional Judgement and Ethics - The conducts of the company in presenting a wrong report throws the analyst into an ethnical dilemma, and a huge professional strain. This is not in line with best practices.

4 0
4 years ago
The government of Diarmina recently passed a law that requires foreign companies to partner with Diarminian companies if they wa
baherus [9]

Answer:

C) policy uncertainty

Explanation:

  • Policy uncertainty is the class of economic risks associated with the irregular economic policy of a particular country's government. Policy uncertainty discourages investment and increases the investment risk factor of the economy.
  • This can come from the regime's volatile and unpredictable monetary or fiscal policy or unpredictable regulatory framework.

so correct answer is C) policy uncertainty

5 0
3 years ago
Consider a large number of countries around the world. There is a positive correlation between the number of cell phones per per
Elena-2011 [213]

Answer:

Option B is correct one.

Explanation:

No, the positive correlation just shows that richer countries have both more nintendos and higher life expectancies it makes no sense to calculate correlation between these two variables.

5 0
3 years ago
The results of the experiment performed in the passage, and the model proposed in response, suggest that what relationship exist
LuckyWell [14K]

The surface activity of the monomers is decreased in each mutant protein, allowing release of the monomers from the interface.

Explanation:

Compression of the film is a consequence of withdrawal of protein solution from the droplet during step 2 of the pendant droplet test.

This is shown by the folds in the region around the dropping collar, which can be seen more distinctly after a more liquid retraction.

The wrinkles of the protein film analysis revealed that there has been no relaxation for 10 minutes after compression, which means that this surface layer is stable. Such findings show that BslA can self-assemble into a stable and complex superior film without the help of a protein or carbohydrate partner.

7 0
3 years ago
The costs of materials consumed in producing good units in the Production Department of Jacobs Company were $38,000 and $39,125
Roman55 [17]

Answer:

b. The cost of materials decreased by $0.29 per unit, indicating an improvement.

Explanation:

We have to determine the material cost per unit which is shown below:

Material Cost per unit = Cost of material consumed ÷ number of equivalent units produced

For June, it would be

= $38,000 ÷ 4,000 units

= $9.5 per unit

For July, it would be

= $39,125 ÷ 4,250 units

= $9.21 per unit

So, the change in the cost of material is

= $9.5 - $9.21

= $0.29 per units

3 0
3 years ago
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