Journal Entries:
Date Particulars Debit Credit
Jan. 1, 2019 Cash $100,000
Notes Payable $100,000
Dec. 31, 2019 Interest Expenses 7,000
Notes Payable 22,523
Cash 29,523
Dec. 31, 2020 Interest Expenses 5,423
Notes Payable 24,100
Cash 29,523
Dec. 31, 2021 Interest Expenses 3,736
Notes Payable 25,787
Cash 29,523
Dec. 31, 2022 Interest Expenses 1,931
Notes Payable 27,592
Cash 29,523
Note: It should be kept in mind that the Interest Expenses is calculated by taking the Balance of Notes Payable, and multiplying it with 7%.
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Answer:
Explanation:
Starbucks has existed for quite long in the United States. Its name is generally synonymous with coffee. Its success in foreign but less developed and emerging markets may be attributed to perception, owing to advertisements and popularization. Advertisements made to potential consumers glamourize the products, making potential purchasers more. Popularization, on the other hand may be attributed to “showbiz”- celebrity synonymity with Starbucks’ products. A movie may feature celebrities taking a Frappuccino from Starbucks. Upon arrival in a new market, a celebrity’s fan is most likely to take a Frappuccino since celebrity so and so took it in a certain movie and declared it good. Another reason for success may be that the bourgeoisie individuals of an emerging market may take to Starbucks products in order to enjoy what their counterparts in developed markets have been enjoying and glamorizing.
Answer: Liaison role of management
Explanation: In simple words, liaison role of management refers to that role in which the managers works as a bridge between two entities so they can effectively communicate with each other. This communication could be done for both internal or external purposes.
In the given case, Michelle is first trying to resolve the conflict between city members and managers and after that he will be going to address a complaint filed by an employee against a team leader.
Hence he is performing the role of liaison officer.
Answer:
Indirect costs incurred in a manufacturing environment that cannot be traced directly to a product are treated as Product costs and expenses when the goods are sold, Option D.
Explanation:
Indirect costs are also manufacturing overheads which cannot be directly put on the product but they have to be allocated in some way. So, these are treated as 'product costs' and 'expenses' when the goods are sold. They are not period costs as per Option A and option C. Option B which says that it is product costs when incurred, which is also incorrect.
Examples of indirect costs can be accounting and legal expenses, rent, telephone expenses, salaries of administrative.
Direct costs includes the costs of direct 'labor', materials and commissions.
