Out of those four it would have to be D) down payment
In an offset, <span>one party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale and this party can fulfill the obligation with any firm in the country to which the sale is being made.</span>
Answer: $23,200 as total current asset for the period
Explanation:
Note Receivable has a value $16,000
Interest on Note = 5%
Accrued for 9 months
Yearly Interest accrued = 16,000*5%*12= 9,600
Interest for 9 months = 9600/12*9 = 7,200
Balance sheet Extract
Other Income
Int Accrued on Note Receivable $7,200
Current Asset
Note Receivable $16,000
Int Accrued on Note Receivable $7,200
Total Current Asset $23,200
Answer:
The correct answer is B that is gain of $1,000
Explanation:
The amount of gain or loss on the disposal of the fixed assets is computed as:
Amount of loss or gain = (Selling Price + Accumulated depreciation) - Cost of fixed assets
where
Selling Price is $27,500
Accumulated depreciation is $3,500
Cost of fixed assets is $30,000
Putting the values above:
= ($27,500 + $3,500) - $30,000
= $31,000 - $30,000
= $1,000
It is a gain of $1,000 on disposal of the fixed assets.
Answer:
Dr Cash $68,000
Cr Common Stock $68,000
Explanation:
1st July
The entry to record the capital investment of Yarwood who contributing $68,000 in cash would result in an increase in common stock and increase in company cash balance which means that increase in common stock must be credited and increase in cash balance must be debited.
Dr Cash $68,000
Cr Common Stock $68,000
