Answer:
From all indications,it is very clear that the question requires a journal entry to record the unpaid interest.
Dr Interest expense $1125
Cr Interest payable $1125
Explanation:
This is a typical case of an omitted entry in the books of accounts,specifically it relates year-end close accounting adjustments.
Under the accrual basis, which is prevalent in the private sector,expenses are to recorded when incurred not when they are settled in cash,as result it is imperative that the above transaction needs be adjusted by debiting interest expense account and crediting same amount to interest payable account to affirm that the company has an obligation to $1125 to mortgage providers.
Answer:
Strategic leaders can help any airline related issue to be solved
Explanation:
Strategic leaders are needed everywhere. An airline company would indeed benefit from a strategic leader and or manager
The condition of exchange that is being met when Small describes how his customers choose to purchase his clothes (by evaluating that his brand is environmentally conscientious, whereas most other brands are not) is that each party believes it is appropriate or desirable to deal with the other party.
(b) a liability,
(c) revenue,
(d) an expense, or
(e) a dividend:
1. Amounts due from customers
2. Amounts owed to suppliers
3. Cash on hand
4. Cash paid to stockholders
5. Cash sales
6. Equipment
7. Note payable owed to the bank
8. Rent paid for the month
9. Sales commissions paid to salespersons
10. Wages paid to employees
Answer:
1. An asset.
2. A liability.
3. An asset.
4. A dividend.
5. Revenue.
6. An asset.
7. A liability.
8. An expense.
9. An expense.
10. An expense.
Explanation:
1. Amounts due from customers: an asset. It should be recorded on the balance sheet as account receivable.
2. Amounts owed to suppliers: a liability. It should be recorded on the balance sheet as account payable.
3. Cash on hand: an asset. It should be recorded on the balance sheet as account receivable.
4. Cash paid to stockholders: a dividend. It should be recorded on the statement of retained earnings.
5. Cash sales: revenue. It should be recorded on an income statement.
6. Equipment: an asset. It should be recorded on the balance sheet as account receivable.
7. Note payable owed to the bank: a liability. It should be recorded on the balance sheet as account payable.
8. Rent paid for the month: an expense. It should be recorded as an expense on the income statement.
9. Sales commissions paid to salespersons: an expense. It should be recorded as an expense on the income statement.
10. Wages paid to employees: an expense. It should be recorded as an expense on the income statement.
Answer:
i hope it helps u :)
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs.
Answer:
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs
fluctuates more than measures of inflation that include food and energy prices.
gives a better measure of ongoing, sustained price changes.
provides a real, rather than a nominal, rate of inflation.
Answer:
gives a better measure of ongoing, sustained price changes.
Explanation:
Answer:
e. Affiliative selling relationship
Explanation:
In an affiliative selling relationship, the buyer needs the information related to the product which helps the buyer to buy the product. The buyer trust on the seller with a view to satisfy his expectations
This relationship fully depends upon the trust which results in the best purchasing decision.
By maintaining the trust, the seller increase its sales which helps him to achieve its sales target