The journal entry to record the issuance of 24,000 shares of $10 par value common stock in exchange for land valued at $243,000 and a building valued at $372,000 is:
The company is issuing 24,000 shares of common stock at a par value of $10 per share, which gives a total par value of $240,000 (24,000 shares x $10 per share). Since the land is valued at $243,000 and the building is valued at $372,000, the total value of the assets received is $615,000. The difference between the total value of assets received and the par value of the common stock issued is $375,000 ($615,000 - $240,000).
The entry above debits the Land account for $243,000 and the Building account for $372,000 to record the receipt of the assets. The Common Stock account is credited for the par value of the shares issued ($240,000) and the Paid-in Capital in Excess of Par – Common Stock account is credited for the difference between the total value of assets received and the par value of the shares issued ($375,000).
learn more about received here :
https://brainly.com/question/13157641
#SPJ11
Lillian loaned A.J. $10,000 and increased her purchasing power by $200 when A.J. repaid the loan a year later. Deflation of 2% also occurred that year. What nominal interest rate did Lillian charge A.J.
The nominal interest rate did Lillian charge A.J. is 0%.
What is the interest rate?The amount of interest due every period as a percentage of the amount lent, deposited, or borrowed is referred to as the interest rate (called the principal sum). The total interest on a lent or borrowed amount is determined by the principal amount, the interest rate, the compounding frequency, and the length of time it is lent deposited, or borrowed.The annual interest rate is the rate over a one-year period. Other interest rates are applicable over different time periods, such as a month or a day, but they are typically annualized.As it is purchasing power was increased by $200.
$200 is 2% of $10,000.
Since deflation is 2%.
Therefore, the nominal interest rate did Lillian charge A.J. is 0%.
Know more about interest rates here:
https://brainly.com/question/25793394
#SPJ4
Linkedin is a business-oriented social networking site that you should visit if you are looking for professional employment.
a. true
b. false
This is true. This is a site that one has to visits when they need help on issues that have to do with employment.
What is linkein?This is is the name that is used to refer to a social media site that is used to connect the people that are actively seeking for employments and the people that are able to provide the links to such opportunities. These would be the providers or employers of labor.
The use of this site is very beneficial to its used because it brings communication closer and people are able to showcase their skills and what they can offer in the market.
Read more on social media here: https://brainly.com/question/13909780
#SPJ1
You have just won ​$20,000 in the state​ lottery, which promises to pay you ​$1,000​ (tax free) every year for the next twenty years. The interest rate is​ 5%. ​Note: all payments made at the beginning of each year. Part 2 In​ reality, you receive the first payment of ​$1,000​ today, which is worth ​$    enter your response here today. ​(Round your response to the nearest penny.​)
The value of the second $1,000 payment is worth $ 952.38
The net present value is given by the expression as shown below:
[tex]NPV = \frac{future value }{(1 + r)^{n} }[/tex]
Plugging the values in the above expression,
Future value =$1,000
r=0.05
n=1
[tex]NPV = \frac{1000}{(1 + 0.5)^{1} }[/tex]
[tex]NPV = 952.38[/tex]
The value of the second $1,000 payment is worth $ 952.38
What Is Net Present Value (NPV)?Net present value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows over a period of time. NPV is used in capital budgeting and investment planning to analyze the profitability of a projected investment or project. NPV is the result of calculations used to find today’s value of a future stream of payments.
Net Present Value (NPV) Formula:
[tex]NPV = \frac{R_{t} }{(1 + r)^{t} }[/tex]
where:
[tex]R_{t}[/tex] =Net cash inflow-outflows during a single period
i =Discount rate or return that could be earned in alternative investments.
t=Number of timer periods
Learn more about NPV on:
brainly.com/question/13228231
#SPJ4
The model of organizational change that helps change agents diagnose the forces that drive and restrain proposed change is ______.
The model of organizational change that helps change agents diagnose the forces that drive and restrain proposed change is Lewin's force field analysis model.
Force field analysis provides a framework for examining the factors that influence situations that are social in nature. Deal with forces that propel movement toward a goal or block movement toward a goal.
Lewin's force field analysis is used to distinguish which factors within a situation or organization move a person toward or away from the desired state and which factors are counteracting the driving force. You can analyze these and make decisions that are more amenable to change.
Learn more about Lewin's force field analysis model here:https://brainly.com/question/13171424
#SPJ4
The present value of $100 paid annually at year end for 20 years at 10% per year is:________.
$851.36 will be the present value of money for $100 after 20 years. The concept of present value states that an amount of money today is worth more than the same amount in the future. We can say that the value of money today won't be same after 10 years.
Money that is not spent today may be expected to lose value in the future at some implied annual rate, which may be inflation or the rate of return on investment. The present value formula reduces the future value to today's dollars by taking into account either the implied annual rate of inflation or the rate of return that could be obtained if a sum was invested.
To learn more about present value, click here
https://brainly.com/question/14860893
#SPJ4
If a firm's dol is 3.6 with a profit of $2,000,000 and depreciation of $500,000, what are its other fixed costs?
a. $5,520,000
b. $5,250,000
c. $5.800.000
d. $4,700,000
The other fixed cost will be D. $4,700,000.
How to calculate the cost?The contribution margin will be:
= $2000000 × 3.6
= $7,200,000
The total fixed cost will be:
= $7,200,000 - $2,000,000
= $5,200,000
The other fixed cost:
= 5,200,000 - 500,000
= 4,700,000
Learn more about cost on:
brainly.com/question/25109150
#SPJ1
Joshua is a new project manager. He is unsure of how much time a new task will require to be completed on the project. He decides to use ________ to estimate a realistic time frame for the task.
Answer: PERT
Explanation:
A reason why marketing intermediaries such as transport companies and wholesalers have survived is that they
A reason why marketing intermediaries such as transport companies and wholesalers have survived is that they :Add enough value to products to outweigh the added costs.
What is marketing intermediaries?Marketing intermediaries can be defined as the people that acts as a link between a manufacturer and consumer.
This Marketing Intermediaries perform important functions as they assist companies or organization to market and sell their product and to as well distribute products from the manufacturer to end user.
Therefore a reason why marketing intermediaries such as transport companies and wholesalers have survived is that they :Add enough value to products to outweigh the added costs.
Learn more about Marketing intermediaries here:https://brainly.com/question/25339343
#SPJ1
Carol Byrd gets a student rate of $30.00 a month for health insurance. There is a $250 deductible. She recently received treatment for a covered condition. The bill was $2,300. Carol's insurance company provided payment of 80% of the bill less the deductible. If applicable, include a thousands comma and round each amount to the nearest dollar. What was the company's payment
The company's payment = $1640,
Carol's total cost = $410.
Step-by-step
Given:
Bill amount = $2300
Amount of deductible = $250
Remaining amount is given by:
=$2300-$250
=$2050
Since Carol's insurance company provided paid 80% of the bill less the deductible.
So, the Company's Payment is given by:
Company Pays 80% which translates to 0.8
Company Payment = 0.8*2050
Company Payment = $1640
Carol's total cost after the payment of company is given by
Carol pays = $2050 - $1640
Carol pays = $410
Hence, the company's payment was $1640, Carol's total cost was $410.
Learn more about Insurance on:
brainly.com/question/25855858
#SPJ4
After a company releases a promotional program, it should follow changes in sales during and after the promotion to see how sales were affected. This is known as _______.
After a company releases a promotional program, it should follow changes in sales during and after the promotion to see how sales were affected. This is known as "Sales tracking".
What is Sales tracking?Sales tracking is crucial since it motivates you to make wise gains and helps you stop additional losses. Knowing the numbers frees you from the need to guess; you can base your judgements on the numbers you can already see, making you a more effective and astute leader.
Some key features of sales tracking are-
This comprises the rate at which deals move through the pipeline, the length of the sales cycle, the win rate, the number of leads that are followed up with, and generally all the variables that affect whether a deal can be closed.The goal of sales monitoring is to examine the smaller, more specialized elements of the sales process in order to comprehend how they all interact with one another. Sales monitoring, when properly implemented, can significantly and continually enhance your sales process. It's a large idea (and big work) stated in two short terms.The importance of sales tracking are-
You can get current sales insights through sales tracking.You can spot issues with your sales before they get worse by using sales tracking.Sales managers can receive up-to-the-minute information on how everyone is doing when your organization tracks sales activities.Using sales tracking to make decisions is simple.To know more about sales promotion, here
https://brainly.com/question/1312782
#SPJ4
jennifer persuades bank of america to loan money to hre friend by orally agreeing to gurantee the loan, in exchange the friend promises to give her 50% ownership in the company that she establishes with the loan
$500 Balance Assist - Bank of America customers can now borrow up to $500 (in increments of $100) for a $5 flat fee, regardless of the amount advanced to their account, thanks to this new short-term, low-cost loan.
Persuades bank of America to loan money?Collateral Promise to Pay Another's Debt - In order to be enforceable, debt surety or guarantee arrangements must be in writing. These documents serve as evidence of a pledge to pay back a loan.
This includes scenarios in which business owners guarantee their company's debts. Jennifer persuades bank of America to loan money to her friend by orally agreeing to guarantee the loan, in exchange the friend promises to give her 50% ownership in the company that she establishes with the loan Sales of products valued at $500 or more are covered by the UCC's rules. Any contract for the sale of goods for $500 or more must be in writing in order to be enforceable under the UCC. Any such agreement may only be modified in writing. Generally speaking, the person being enforced upon must sign the agreement. A handwritten agreement or a mark, seal, stamp, or electronic signature can all be considered signatures. Even though it is not signed by the other merchant, a confirmation of the contract made by one merchant that is accepted by the other merchant will be considered sufficient between merchants.Learn more about bank of America and loan money here:
https://brainly.com/question/27282615
#SPJ4
Do you think that credit policy decisions are made more on the basis of numerical analyses or on subjective judgment
A process of accepting or denying credit based on the lender's discretion rather than on a specific credit score model is known as subjective credit analysis
Basis of numerical analyses or on subjective judgment?Using past interactions with applicants who are similar to the borrower, judgment is used in the credit analysis to assess the borrower's application and determine credit approval. This method for determining approvals does not use any algorithms or empirical methods. Credit policy decisions are made more on the basis of numerical analyses or on subjective judgment. Smaller banks are the main users of subjective credit analysis. Smaller banks use judgmental credit analysis because it is more cost-effective for them to do so than it is for larger banks to develop credit scoring systems or hire a third party to establish credit scores. Large banks frequently have more automated credit processes because of the volume of applications they receive. The judgmental credit analysis is distinct in its methodology and is founded on conventional credit analysis standards, including payment history, bank references, age, and other factors. The credit issuer employs an overall credit score that is calculated by scoring and weighting certain factors.
The majority of people are more familiar with the idea of a credit score and most frequently link it with the FICO or the Fair Isaac Corporation, which developed the most widely used credit score model, even though judgmental credit analysis works well for smaller banks. Larger banks and lenders use a credit score methodology that gauges a consumer's creditworthiness using a statistical number. Lenders then use credit ratings to determine the likelihood that a borrower would pay back their loans.
Learn more about subjective judgment here
https://brainly.com/question/26948891
#SPJ4
Hugh is interested in making a lot of money. He is a very good salesperson. People tell him he could sell sand in Saudi Arabia! He is also a very hard worker, and is willing to work a lot of hours to make the kind of money he wants. Hugh should most likely look for the kind of job that is paid
The type of Job that Hugh has to look for should be the one that can pay him by commission.
What is a commission?This is the money that a person is paid after they have brokered a deal. The commission is the money.
This is the service charge that Hugh is going to charge to his clients whenever he helps them.
Read more on a commission here:
https://brainly.com/question/957886
#SPJ1
________ is the shift from people making their own fun to people purchasing it as goods and services.
The commodification of recreational activities is the shift from people making their own fun to people purchasing it as goods and services.
What is commodification?This is when values are assigned to objects or things which are previously meant for fun. Commodification occurs when something that used to have intrinsic value gradually develops a monetary value like water, or sunshine, or knowledge as an example.
Here, human and socio cultural value are converted into market value which also applies to goods, services, ideas, and other forms and products.
Commodification provides benefit to a business environment which includes opportunities for developing new products and services inorder to meet ever changing customer needs and demand.
Learn more about commodification here: https://brainly.com/question/13235742
#SPJ1
Suppose the rivals of an oligopolistic firm match either a price increase or decrease. If this occurs, then the firm's demand curve will look ______.
Suppose the rivals of an oligopolistic firm match either a price increase or decrease. If this occurs, then the firm's demand curve will look straight.
An oligopoly refers to a marketplace shape that includes a small extensive variety of agencies, who collectively have a sizeable effect over a tremendous industry or marketplace. while the company holds a splendid deal of marketplace power, no person enterprise inside the group has sufficient sway to undermine the others or thieve market percentage.
Oligopoly traits include immoderate limitations to new get right of entry, charge-setting potential, the interdependence of corporations, maximized sales, product differentiation, and non-price competition.
As an alternative, they are oligopolies. Oligopoly arises while a small number of big companies have all or most of the sales in an agency. Examples of oligopoly abound and encompass the auto organization, cable tv, and business air excursion. Oligopolistic corporations are like cats in a bag.
Learn more about oligopoly here https://brainly.com/question/3005866
#SPJ1
Betsy wants to determine if the types of products advertised on television vary depending on the time of day. Which type of archival research approach should she employ in this scenario
Betsy should employ content analysis type of archival research approach in this scenario.
Content AnalysisThe existence of particular words, topics, or concepts in a given set of qualitative data can be found by using the research tool of content analysis. The presence, significance, and connections of such specific words, themes, or concepts can be quantified and examined using content analysis. To check for bias or partiality, for instance, academics can assess the language used in a news piece. The meanings included in the texts, as well as their authors, readers, and even the culture and time period in which they were written, can all be inferred by researchers. Almost any instance of communicative language can be used as a source of data, including interviews, open-ended inquiries, field study notes, dialogues, and open-ended questions. For the sake of analysis, a single study may examine numerous textual genres.
Learn more about content analysis here:
https://brainly.com/question/13248426
#SPJ4
Research with results that provide detailed verbal or visual information about consumers' attitudes, feelings, and buying behaviors rather than offering numeric data is known as:_________.
Research with results that provide detailed verbal or visual information about consumers' attitudes, feelings, and buying behaviors rather than offering numeric data is known as qualitative research.
More about qualitative research:
A relatively small sample size is used in this study, which also focuses on depth rather than breadth, is non-linear and cyclical, and strives to systematically elucidate the depth of the human experience within its contextual setting. Finding meaning is the goal of qualitative research, which also aims to comprehend how people interpret their experiences, build their worlds, and give experiences meaning.
Learn more about Qualitative research here:
https://brainly.com/question/13498255
#SPJ1
With _____________ demand the price changes, but the amount purchased remains the same.
With perfectly inelastic demand the price changes, but the amount purchased remains the same. Prices or quantities are fixed and are unaffected by the other variable when demand is perfectly inelastic. When a price change results in an exact proportional change in the quantity required, this is known as unitary demand.
When a buyer's desire for a product does not fluctuate as much as a product's price change, this is known as inelastic demand. Demand is said to be inelastic when the price rises by 20% while the fall in demand is just 1%.This problem frequently arises with common household goods and services.
People will continue to buy roughly the same amount of goods or services after a price increase since their needs remain the same. Similar circumstances apply when prices are reduced; demand won't rise significantly.
To learn more about perfectly inelastic, click here
https://brainly.com/question/13749780
#SPJ4
The perceived value that a company creates for consumers less the company's costs to create the value equals ______. Multiple choice question. a strategic trade-off
Generally, the typical perceived value that a company creates for consumers, less the company's costs to create the value equals the economic value created.
What is a perceived value of a product?This refers to the customer's own perception of a product or service's merit or desirability to them most especially in comparison to a competitor's product.
It also means the difference between the prospective customers evaluation of all the benefits and costs of an offering and the perceived alternatives.
In conclusion, the the typical perceived value that a company creates for consumers, less the company's costs to create the value equals the economic value created.
Read more about perceived value
brainly.com/question/27340984
#SPJ1
A cantilever beam has a length L and is loaded by a triangularly distributed load of maximum intensity q0 at B. (Solve this problem by integrating the differential equations of the deflection curve. The beam has constant flexural rigidity E I.)
The Deflection due to Triangular load is 11q₀L⁴/120EI.
What is Deflection in a beam?The amount of displacement that a specific structural member can experience with the aid of a sizable amount of load is known as deflection. It may also be known as the angle or the separation. The slope of the deflected shape of the body under a load directly affects the distance that a member will deflect under that force. By integrating the function that is used to characterize the slope of the member under that load, it can be calculated.A beam is a long segment of a body that can support a load while defying bending. Beam deflection is the term for the movement of a beam when a force is applied to it in a specific direction.Deflection due to reaction (R)(σ₂) =
RL³/3EI
σ₁ = σ₂⇒ 11q₀L⁴/120EI
= RL/3EI= R
= 11q₀L/40
Know more about Deflection in a beam with the help of the given link:
https://brainly.com/question/24230357
#SPJ4
Economic resources that are owned or controlled by a company"" – which one of the terms below matches the definition/description just given?
Economic resources that are owned or controlled by a company is asset. Economic resources are elements that are utilized to create goods or services for use or consumption. The Economic resources are sometimes referred to as production inputs. Money is just one form of the economic resource; there are others as well.
Some the economists use production components of land, capital, and entrepreneurship define economic resources. The six elements are also included in concept in other economic theories they are land, capital, information, corporate reputation, and ownership risk. Although all company need economic resources, how they employ those resources varies.
To learn more about Economic resources, click here.
https://brainly.com/question/21491680
#SPJ1
Mr. edwards, a marketing representative of the acme insurance company, scheduled a marketing event and expects about 40 people to attend:___.
Edwards, a marketing specialist at ACME Insurance Company, is planning a marketing event and expects about 40 attendees. He hired a magician for $200 to entertain the attendees.
His five largest homeowners insurance companies in the United States are State Farm, Allstate, USAA, Liberty Mutual, and Farmers. He can do this because the estimated number of attendees is based on the size of the venue and the response rate, and the value of the gift does not exceed $15.
You can request your name and mailing address. You can give multiple gifts during a single event, but the total sales cannot exceed $15 at a time.
Insurance companies are financial intermediaries that provide primary insurance or reinsurance services and provide financial protection against potential future risks.
Learn more about insurance companies at
https://brainly.com/question/26285319
#SPJ1
Which business buying decision factor would include political forces, economic factors, and technological changes
The business buying decision factor that would include political forces, economic factors, and technological changes is: Environmental factors .
What is buying decision?Buying decision can be defined as the process in which a buyer put into consideration some factors before deciding to buy a product
Environmental factors consist of the following:
Competitive factorsEconomic factorsPolitical forcesLegal and regulatory forcesTechnological changes Sociocultural issuesTherefore the business buying decision factor that would include political forces, economic factors, and technological changes is: Environmental factors .
Learn more about Buying decision here:https://brainly.com/question/7029808
#SPJ1
Do nontraditional products positively impact the housing market or will they lead to further downturns in the industry?
Nontraditional products always positively impact the housing market.
First, they are such flexible that they allow the lender to make adjustments on the loans which would ensure that the borrower makes the repayment even after they defer at one point of time.
This means that they are not subjected to any amortization and their value do not deterioate.
Non-traditional goods means goods which do not include crepe rubber, scrap rubber, sheet rubber, latex or fresh coconuts, or agricultural, horticultural or dairy produce. These non traditional goods includes goods other than black tea not in packet or package form and each packet or package must not weigh more than one kilogram and always includes organic tea in bulk.
To know more about non traditional goods here:
https://brainly.com/question/26862441
#SPJ4
our grocery store in India is having trouble getting the local farmers to supply you with the proper produce. This is a problem with India's:
Your grocery store in India is having trouble getting the local farmers to supply you with the proper produce. This is a problem with India's resource market.
What is the resource market?The term "resource market" refers to a market that provides goods and services to businesses, organizations, and firms in exchange for money. Markets that offer firms the resources they require to deliver the products or services they offer are known as resource markets.
One of the three main categories of macroeconomic markets is the resource market, sometimes known as the factor market. Financial markets and product markets are the other two. The macroeconomic analysis of full employment and unemployment must take into account resource markets.
firms demand the resources that maximize profit and households supply the resources that maximize utility.
To know more about resource market refer to: https://brainly.com/question/18310262
#SPJ4
Item 23 Old Antique Store prepared the following budget information for the month of May: Sales are budgeted at $360,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. Inventory was $84,000 on April 30; an inventory increase of $12,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated cash disbursements for selling and administrative expenses for the month are $48,000. Depreciation for May is projected at $6,000. Old Antique 's budgeted gross profit for May is:
The Budget Gross Profit for the Month of May is $199,200 calculated as follows:
What is Gross Profit?Gross profit is the profit that a company have earned from the customers after deducting its cost of goods sold. The other expenses are then deducted from this gross profit and then the net profit is calculated.
Sales $360,000
Less: Provision for Bad debts $10,800 (360,000 * 3%)
Net Sales $349,200
Less: Cost of Goods Sold $96,000 (84000+12000)
Less: Administrative expenses $48,000
Less: Depreciation $6,000
Gross Profit $199,200
The Sales is reduced by the allowance for bad debts, the net sales are arrived. However these net sales are then deducted from the relevant expenses such as cost of goods sold, administrative expenses and the depreciation.
Cost of Goods sold are calculated by adding the increase in inventory in the opening inventory.
Learn more about Gross Profit at https://brainly.com/question/27219285
#SPJ1
What role does personal motivation play in improving time management?
Having the capacity for self-motivation is a crucial talent.
Self-motivation is what propels people to persist in the face of obstacles, seize chances, and demonstrate dedication to their goals. More information on this crucial component of emotional intelligence is provided on this page.
The administration and coordination of tasks to accomplish a goal is management. Setting the organization's strategy and organizing staff efforts to achieve these goals through the application of resources available are examples of such administration activities.
The handling, directing, or controlling of anything. Executive aptitude; management talent; excellent management. The person or people in charge of managing and directing a company, institution, etc. There is new management at the store.
Learn more about management here
https://brainly.com/question/25453419
#SPJ4
Item 1 The economic development approach to the natural world suggests that sustainable business and sustainable economic development seek to create new ways of doing business in which business success is measured in terms of economic, ethical, and environmental sustainability.
The economic development approach to the natural world suggests that sustainable business and sustainable economic development seek to create new ways of doing business in which business success is measured in terms of economic, ethical, and environmental sustainability: FALSE
What is the economic development approach?Economic development, on the other hand, is a multifaceted process that includes significant changes in social structures, public attitudes, and national institutions, as well as the acceleration of economic growth, the decrease of inequality, and the abolition of absolute poverty.Therefore, the given statement "the economic development approach to the natural world suggests that sustainable business and sustainable economic development seek to create new ways of doing business in which business success is measured in terms of economic, ethical, and environmental sustainability" is completely FALSE.
Know more about the economic development approach here:
https://brainly.com/question/13859230
#SPJ4
Complete question:
The economic development approach to the natural world suggests that sustainable business and sustainable economic development seek to create new ways of doing business in which business success is measured in terms of economic, ethical, and environmental sustainability.
TRUE or FALSE.
If an advertiser doesn't want to add remarketing tags to a website, why would Customer Match be a good fit for them?
The correct answer is: Customer Match relies on your own data instead of a remarketing tag.
INTERPRETATION
If an advertiser doesn’t want to add remarketing tags to a website then Customer Match would be a good fit for them because Customer Match creates a similar audience for you by using the data from your ad accounts and campaigns. This makes the Customer Match data reliable because it uses your own data instead of a remarketing tag.
The Customer Match audience is created from the interests and behavior of the audience similar to your previous website visitors.
Therefore, we can conclude that the correct option is D. If an advertiser doesn’t want to add remarketing tags to a website then Customer Match would be a good fit for them because Customer Match relies on your own data instead of a remarketing tag.
Your question is incomplete, but most probably your full question was:
If an advertiser doesn't want to add remarketing tags to a website, why would Customer Match be a good fit for them?
a. Customer Match allows you to reach people who have been to your website
b. Customer Match allows you to reach people who haven’t been to your website yet
c. It wouldn’t be a good fit. You have to tag your website to use Customer Match
d. Customer Match relies on your own data instead of a remarketing tag
Learn more about Remarketing on:
brainly.com/question/27692394
#SPJ4
On January 1 of Year 1, Bryson Company obtained a $147,750, four-year, 7% installment note from Campbell Bank. The note requires annual payments of $43,620, beginning on December 31 of Year 1.
Installment note from Campbell Bank.
1-Jan Note intt expense Decrease 31-Dec
Amortization of Installment Notes Carrying payment 7% in Carrying
Year ending December 31 amount cash paid notes payable amount
year 1 147,750 43,620 10343 33,278 114,473
year 2 114,473 43,620 8013 35,607 78,866
year 3 78866 43,620 5521 38,099 40,766
year 4 40766 43,620 2854 40,766 0
b) Journal Entries
Date Account titles & Explanations Debit Credit
year 1 1-Jan Cash 147,750
Notes payable 147,750
(to record issuance of note)
year 1 31-Dec Interest expense 10343
Notes payable 33,278
cash 43,620
(to record interest expense)
year 2 31-Dec Interest expense 8013
Notes payable 35,607
cash 43,620
(to record interest expense)
year 3 31-Dec Interest expense 5521
Notes payable 38,099
cash 43,620
(to record interest expense)
year 4 31-Dec Interest expense 2854
Notes payable 40,766
cash 43,620
(to record interest expense)
c) interest expense of 10,343 would be reported on the income statement of Bryson Company.
Learn more about installment notes at
https://brainly.com/question/24317141
#SPJ4