subject
Business, 07.05.2021 17:30 jonmorton159

X Company prepares monthly financial statements. The following transactions occurred on September 1: paid the premium for the first year of a $5,000, four-year insurance policy,
paid cash for equipment that cost $20,000; the equipment has a life of four years and salvage value at that time of $2,000, and
borrowed $28,000 from a bank that will be repaid on December 31, along with interest of $117 per month.
The accountant made entries to record the transactions on September 1 and the adjustments on September 30. How was Net Income in September affected by these entries.
Tries 0/3

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 10:10, hausofharris
Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?
Answers: 2
image
Business, 22.06.2019 12:00, lyn36
In mexico, many garment or sewing shops found they could entice many young people to work for them if they offered clean, air conditioned work areas with high-quality locker rooms to clean up in after the work day. typically, traditional garment shops had to offer to get workers to apply for the hard, repetitive, and somewhat dangerous work. a. benchmark competitive wages b. compensating differentials c. monopoly wages d. wages based on human capital development of each employee
Answers: 3
image
Business, 22.06.2019 16:50, bri663
Coop inc. owns 40% of chicken inc., both coop and chicken are corporations. chicken pays coop a dividend of $10,000 in the current year. chicken also reports financial accounting earnings of $20,000 for that year. assume coop follows the general rule of accounting for investment in chicken. what is the amount and nature of the book-tax difference to coop associated with the dividend distribution (ignoring the dividends received deduction)?
Answers: 2
image
Business, 22.06.2019 19:10, XOsam
Coca-cola was primarily known for its core competencies in marketing, bottling, and distributing aerated drinks. however, with the success of gatorade, coca-cola developed competencies in the development and marketing of its own sports drink, powerade. which of the following is true of coca-cola? a. it is leveraging existing core competencies to improve current market position. b. it is building new core competencies to protect and extend its current market position. c. it is redeploying and recombining existing core competencies to compete in markets of the future. d. it is targeting the chasm between the early adopter and early majority market segment.
Answers: 1
You know the right answer?
X Company prepares monthly financial statements. The following transactions occurred on September 1:...

Questions in other subjects:

Konu
Mathematics, 08.03.2021 20:10