The entry to record the annual payment on December 31, 2020, by Jones Company is as follows:
Debit Note Payable $15,000
Debit Interest Expense $5,000
Credit Cash $20,000
How do you record annual payments?Annual payments can be recorded by debiting the accounts that receive the value and crediting the account that gives value as above.
Data Analysis:Note Payable = $100,000
Maturity period = 5 years
Date of Issuance = January 1, 2019
Principal repayment plus interest = December 31
Interest rate = 5%
Annual Interest in dollars = $5,000 ($100,000 x 5%)
Note Payable $15,000 Interest Expense $5,000 Cash $20,000
Thus, the entry to record the annual payment on December 31, 2020, by Jones Company is debits to Note Payable ($15,000) and Interest expense ($5,000), and a credit to Cash account ($20,000).
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Carla Vista Co. Ltd. Publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Carla Vista sells 7,800 subscriptions for cash, beginning with the December issue. Carla Vista prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end.
1. Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. ) Date Account Titles and Explanation Debit Credit Nov. E Textbook and Media List of Accounts
2. Prepare the adjusting entry at December 31, 2022, to record subscription revenue in December 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. ) Date Account Titles and Explanation Debit Credit Dec. 31 e Textbook and Media List of Accounts
3. Prepare the adjusting entry at March 31, 2023, to record subscription revenue in the first quarter of 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. ) Date Account Titles and Explanation Debit Credit Mar. 31
The journal entry to record the receipt of the subscriptions for Nov is: Debit Cash $218,400; Credit Unearned subscription revenue $218,400.
Receipt of subscriptionJournal entries
Nov 2022
Debit Cash $218,400
($7800×$28)
Credit Unearned subscription revenue $218,400
(To record the receipts of subscription)
Dec 2022
Debit Unearned subscription revenue $18,200
Credit Subscription revenue $18,200
($176,400×1/12)
(To record the revenue earned)
March 2023
Debit Unearned subscription revenue $54,600
Credit Subscription revenue $54,600
($218,400×3/12)
(To record the revenue earned)
Therefore the entry to record the receipt of the subscriptions for Nov is: Debit Cash $218,400; Credit Unearned subscription revenue $218,400.
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As marketing manager for BoomBees Industries, you should be aware that legislation affecting business around the world will continue to
A. Exist
B. Increase
cremain steady
O D. Decrease
E threaten the Ghanaian domestic economy
Reset selection
As marketing manager for BoomBees Industries, legislation affecting business around the world will continue to increase.
Who is a manager?A manager simply means an individual who controls and guides other staffs in the organization to achieve a common goal.
In this case, as a marketing manager for BoomBees Industries, legislation affecting business around the world will continue to increase.
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The British government increased the national debt from $75 million to $133 million by borrowing from ________ and British bankers.
The British government borrowed from the Dutch and British bankers and this increase its national debt from $75 million to $133 million.
What is a national debt?This means the total amount of all debts owed by the government of a country.
These debt are used to service infrastructure, cater expenditure when there are insufficient revenue to cater for such.
Therefore, the British government borrowed from the Dutch and British bankers.
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If stockholders were upset that eric yuan allowed security problems to surface because he was focused on other things, the situation could be considered an example of.
If the stockholders of the company get mad at Eric Yuan for focusing on other things and allowing security problems to emerge, this is the Principal-Agent problem.
What is the Principal-Agent Problem?This refers to a situation where the agent (management) do not act in the best interest of the principal (stockholders) and instead focus on their own issues.
In this scenario, Eric Yuan is most likely the agent and the stockholders are angry with him for not acting in their best interest by letting security problems arise.
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When should a seller's desire for a specific replacement property factor into the pricing strategy for the seller's current home?
a. Never.
b. In a hot market that's appreciating at more than 15% per year.
c. When the replacement property is comparable to the seller's current property.
d. When the desire for the other property outweighs the seller's need to get top market dollar for the current home.
Answer:
D.When the desire for the other property outweighs the seller's need to get top market dollar for the current home
Explanation:
How are letters of credit different from secured transactions?
O A. A letter of credit tells a prospective seller how much you can buy.
A secured transaction provides the bank with assurance of
repayment
O B. A letter of credit is sent from the seller to the buyer and a secured
transaction means the seller must ship the product.
O C. A letter of credit is covered in Article 9 and a secured transaction
is covered in Article 5 of the UCC.
D. There is no difference because the bank benefits in both cases,
Answer:
The answer is B, Bill of Lading.
Explanation:
i did research
Before sending a résumé, you should always checked with the employer to see what operating system they use. please select the best answer from the choices provided t f
Answer:
This is true.
Explanation:
Edg. 2022
Answer:
t
Explanation:
trust
Assuring consumers that the company follows responsible information practices and that there are consequences for failing to do so is called:
A notice/awareness is a business ethics term that refers to informing customers that the firm uses responsible information practices.
What is a business code of ethics?A business ethics code is a collection of governing principles meant to guarantee that a company and its workers operate with honesty, truthfulness, and integrity in all aspects of its daily operations and only participate in activities that contribute to the betterment of the consumers in the society.
A notice/awareness is a business ethics term that refers to informing customers that the firm uses responsible information practices and that there are repercussions for failing to do so.
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When developing an advertising campaign, the company first identifies and analyzes the target audience then
Answer: defines the advertising objectives
Explanation:
The range of operations that falls within the capacity of the current level of fixed costs is referred to as the:
A relevant range means the range of operations that falls within the capacity of the current level of fixed costs.
What is a relevant range?In manufacturing, this range means the specific activity level that is bounded by a minimum and maximum amount.
In other word, its is also the level of activity that a company is expected to operate within.
Hence, the relevant range is the range of operations that falls within the capacity of the current level of fixed costs.
Therefore, the Option A is correct.
Missing options "a. Relevant range b. Marginal range c. Operating range d. Linear average"
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Why is cvp analysis more difficult when using absorption costing than when using variable costing?.
CVP analysis is more difficult because its requires costs to be broken down between variable and fixed which is not done in absorption costing.
What is a CVP analysis?This is an analysis that find out how changes in the firm's variable and fixed costs affect the firm's profit.
Hence, the analysis is difficult when using absorption costing than when using variable costing because its requires costs to be broken down between variable and fixed which is not done in absorption costing.
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From a liquidity standpoint, which is more desirable for a company to have?.
Suppose you are working for a small start up as a purchasing agent. You are purchasing a product that requires that you pay in bitcoins. The product costs 1.75 bitcoins. The exchange rate is 0.0035 bitcoins per dollar. What will the product cost you in U.S. dollars
The product cost in US dollars given the exchange rate of bitcoins per dollar is $500.
What is the product cost in US dollars?The exchange rate is the rate at which one currency is exchanged for another currency. In this question, 1 dollar is equivalent to 0.0035.
$1 = 0.0035 bitcoins
1.75 / 0.0035 = $500
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How long it will take for an investment of 3000 dollars to double in value if the interest rate is 8 percent per year, compounded continuously
Answer:
8.66435 years
Explanation:
With no annual or monthly contribution, and no inflation, it'll take around this long.
Match each participant in the economy with one action that contributes to
the circular flow of the free-market system,
Consumers
?
Providing investment
capital
Governments
?
Paying wages
Producers
?
Collecting taxes
Consumer - Provide investment
Government - collecting tax
Producer- Pay wages
What is free market?Free market is a market that allows people or individual to trade without restrictions by the government.
It allows for inter trade without any policies by the government. The market is determined by the sellers.
Therefore, action that contributes to
the circular flow of the free market is
Consumer - Provide investment
Government - collecting tax
Producer- Pay wages
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Which item was invented in 1972 by minnesota vikings field-goal kicker fred cox? skateboard nerf football super soaker etch a sketch.
3. What challenges do you anticipate in implementing some of the above steps? Explain.
In implementing some of your steps, anticipate the challenges as they are bound to e related to your specific goal.
What are challenges?Generally, challenges are simply a competitive situation to determine who is superior in a specific field.
In conclusion, in carrying out set goals, missions, or said steps or series of activities we tend to meet challenges, and these challenges are anticipated by the nature of activity.
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Iman’s manager, using ________, required him to give up his company car because he had missed sales goals for four consecutive quarters.
The policy of Iman's manager to require him to give up his company car because of his failure to meet sales goals was punishment.
What is punishment?When a person is punished, a positive benefit is taken away from them in order to inspire them to do better.
In this case, Iman's car was taken away from him by his manager to encourage him to meet up with sales goals that he had been failing to meet.
In conclusion, this is punishment.
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Holding all else constant, if people who are currently discouraged workers decide to start looking for jobs again, you will see: Group of answer choices a decrease the labor force participation rate. a decrease in the unemployment rate. an increase the unemployment rate. no effect on the unemployment rate. no effect on the labor force participation rate.
Answer:an increase the unemployment rate.
Explanation:Holding all else constant, if people who are currently discouraged workers decide to start looking for jobs again, you will see: an increase the unemployment rate.
If people who are discouraged and looking for job again will see An increase the unemployment rate Option(c) is correct.
What is Unemployment?In simple Words unemployment is referred to as that rate in which the people are completely unemployed they are actually not getting the job easily.
People who are looking for job to start once again will get no job and hence it would lead to the increase in the unemployment.
Therefore Option(c) is correct.
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Which of the following statements is correct? assume that the project being considered has normal cash flows, with one outflow followed by a series of inflows.
If a project's NPV is less than zero, then its IRR must be less than the WACC is correct in the project being considered has normal cash flows, with one outflow followed by a series of inflows.
What is normal cash flow?The normal cash flow stream consists of an initial investment outlay followed by positive net cash flow throughout the project's life cycle.
It's also known as a traditional cash flow stream. In a traditional cash flow stream, cash flows only change direction once.
Thus, if project is NPV is less than zero IRR is less then WACC
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ABC Company supplies ink cartridges for printers on the aftermarket (i. E. They sell replacement cartridges). The demand for the cartridge is 400 units per week, with a standard deviation of demand of 30 units per day. The holding cost of the cartridge is $3/unit/year while the ordering cost is $190/order. The company works for 50 weeks per year at 5 days per week. The desired service level for this part is 99%, it takes 5 days to get it from the supplier. The company is investigating the possibility of implementing a continuous review (EOQ) inventory system. Assume that you found the economic order quantity is 1400 units. How many times on average would you need to place an order for ink cartridges next year (rounded up to nearest whole number)
By implementing a continuous review (EOQ) inventory system with an EOQ of 1,400 units, ABC Company should place 15 orders for ink cartridges next year.
What is an EOQ inventory system?An EOQ (Economic Ordering Quantity) inventory system is an inventory management technique that ensures:
Efficient inventory management decisions.The optimal amount of inventory is ordered.Annual demands are met.Holding and ordering costs are minimized.Thus, by implementing a continuous review (EOQ) inventory system with an EOQ of 1,400 units, ABC Company should place 15 orders for ink cartridges next year.
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Based on the following passage, what is the intended effect of President Obama’s immigration reform? (Select all that apply.)
President Obama announced in 2014 that he was going to engineer a legal route to citizenship for all undocumented workers who have not committed a felony. Those workers must pass a background inspection, pay taxes and learn English before their citizenship will be granted.(Select all that apply.)
When all people living in this country are documented, that situation will help secure our borders.
When all people living in this country are documented, that situation will help our economy.
When all people living in this country are documented, that situation will help ensure national security.
When all people living in this country are documented, that situation will drain our health care system.
The intended effect of President Obama's immigration reform includes the following:
B. When all people living in this country are documented, that situation will help our economy.
C. When all people living in this country are documented, that situation will help ensure national security.
What is the importance of immigration reforms?Immigration reforms ensure the following:
Drive business creationFuel innovation,Strengthen communitiesBolster the middle classGrow the economyKeep Americans and their families together.According to President Obama, immigration has
Created new businesses.Shaped the character of the United States.Benefited the country more than others.Thus, the intended effect of President Obama's immigration reform includes Options B and C.
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Which of the following is not a true statement about filing bankruptcy? a. bankruptcy erases all of your debt. b. it is possible to rebuild your credit after filing bankruptcy. c. there are exemptions that allow you to keep essentials. d. bankruptcy stops aggressive action by creditors. please select the best answer from the choices provided a b c d
Bankruptcy does not clear all the debt. Under Bankruptcy, not all debts can be discharged, however, and some are very difficult to discharged.
What is Bankruptcy?Bankruptcy is a legal process in which individuals or other organizations who are unable to repay their debts to their creditors may seek relief from some or all of their debt.
In many places, a lawsuit was probably settled out of court, as the debtor was likely to pay.
Bankruptcy gives people in debt the opportunity to restart by closing or by restructuring. In both cases, the court may impose a fine on the debt.
Once the debt has been settled, the lender will no longer be able to take action against the debtor, such as trying to collect debt or take any security.
Thus, Option a. bankruptcy erases all of your debt is the correct answer.
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The standard overhead applied is based on the ______ level of activity multiplied by the predetermined overhead rate. Multiple choice question.
The standard overhead applied is based on the actual level of activity multiplied by the predetermined overhead rate.
A manufacturer who want to encourage repeat purchases and offer the consumer an immediate reward might consider what type of promotion?
A manufacturer who wants to encourage repeat purchases and offer the consumer an immediate reward might consider what type of promotion?
⇒ online coupons
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When the Fed buys bonds the supply of money Group of answer choices increases and so aggregate demand shifts right. decreases and so aggregate demand shifts left. decreases and so aggregate demand shifts right. increases and so aggregate demand shifts left. Flag question:
When the Fed buys bonds the supply of money increases and so aggregate demand shifts right.
What is the impact of the Fed buying bonds?When the Fed buys bonds, it is known as an expansionary monetary policy. Expansionary monetary policy increases the supply of money in the economy.
When the supply of money increases, disposable income increases and this increases the demand of goods in the economy. This shifts the aggregate demand cuve to the right.
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Which of the following illustrates the most economically sound choice for brad? buying both a car and a home leasing both a car and home buying a car and leasing a home leasing a car and buying a home
Buying both a car and a home best illustrates economics sound choice of brad.
What is a brad?A brad is a device that have a slight projection that help to fasten paper or object. It is a thin, soft metal, such as shim brass, wihich has a round head and a flat, split shank, which spread wide on pages or as a cotter pin or a split rivet.
They are use to attach shoe moldings and fastened small ornamental parts on furnitures Brads are use to glue wooden parts together.
Therefore, Buying both a car and a home best illustrates economics sound choice of brad.
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Answer: Keep it simple: A
Explanation:
buying both a car and a home
A decrease in the discount rate ________ bank reserves and ________ the money supply if banks respond appropriately to the change in the rate.
A decrease in the discount rate increases bank reserves and increase the money supply if banks respond appropriately to the change in the rate.
What is discount rate?Dscount rate serves as the rate of interest that the central bank charges on its loans and advances to a commercial bank.
Therefore, when there is increase in discount rate, there will be increase in money supply.
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Your friend is thinking of hiring a financial planner to help him manage his portfolio. What should he be on the lookout for? Why?
Answer:
You should look for How much money should I invest and where? What is my current net worth? Can I afford to retire? How do I invest to achieve my short and long-term life goals? How much money do I need and when? You should ask these questions because they are important to consider when your going to hire someone in the financial business.
Explanation:
However, these may not be what most people ask when they are going to hire a financial planner. This is just what I would question them and myself about.
You should check your credit report from each of the three main credit bureaus at least once per year by requesting copies from annualcreditreport. Com.
It is a good idea and notion to check your credit report from each of the three nationwide credit bureaus at least once a year.
What is the benefit of checking your credit report?Your credit report history is an important component of information for your entire financial well-being. Checking your credit history as it appears on your credit reports, as well as, credit score ratings may assist you in understanding your present credit situation.
It is critical to review your credit report since your credit scores history is among the elements that may influence your loan conditions, particularly interest rate, and it is critical that the content on your credit reports is true and accurate.
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