Answer:
Car loan, Student loan, Home loan are examples of necessary loans.
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Answer:
D) $16,000 Discount Expense plus a $20,000 positive Adjustment to Net Income when the merchandise is delivered
Explanation:
Options include <em>"A) $20,000 Discount Expense plus a $12,000 positive Adjustment to Net Income when the merchandise is delivered. B) $20,000 Discount Expense plus a $12,000 negative Adjustment to Net Income when the merchandise is delivered. C) $20,000 Discount Expense plus a $20,000 negative Adjustment to Net Income when the merchandise is delivered. D) $16,000 Discount Expense plus a $20,000 positive Adjustment to Net Income when the merchandise is delivered E) $20,000 Discount Expense plus a $20,000 positive Adjustment to Net Income when the merchandise is delivered."</em>
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Discount expense
= ($1.41 - $1.37) * 400,000 euro
= $0.04 * 400,000 euro
= $16,000
Adjustment at Delivery
= ($1.41 - $1.36) * 400,000 euro
= $0.05 * 400,000 euro
= $20,000 (positive)
Answer:
a. a lawful action that is not a tort.
Explanation:
A tort refers to some wrongful act or some infringement of any right which is other than under any contract which leads to a legal liability. It is based on a civil law. People are liable for their actions taken against another both accidentally or intentionally.
In the context, the customers who is regular to Purity Cleaners tries to patronize or condescend OK Dry Cleaners instead of Purity Cleaners. This is lawful action, however not a tort.
Answer:
making loans to the government
Answer:
$200
Explanation:
When Supplies inventory are purchased, a debit is posted to Supplies inventory and a credit to cash account or accounts payable.
As the inventories are used, debit Supplies expense and credit Supplies inventory account.
Given that $1,000 was the debit in the books and $800 per count, it means the books balance needs to be written down to the physical balance. The difference to be posted
= $1,000 - $800
= $200
This will be done by
Debit Supplies expense $200
Credit Supplies Inventory $200
Being entries to record inventory used in July
