Answer:Jalen journal $
Date
Jan 1 ,2021
Land Dr. 860,887
Note payable Cr. 860,887
Narration. Issuance of note of above amount payable in four installment for purchase of land.
June 30,2021
Note payable Dr 215,221.64
Cash Cr. 215,221.64
Narration. Payment of first installment on land purchase.
December 31,2021
Note payableDr 215,221.64
Cash.Cr. 215,221.64
Narration. Payment of second installment on land purchase.
2. Balance on note payable as at December 31, 2021 $400,000
Balance on Interest expenses $30,443.28
Explanation:
The land account is debited to recognized it's purchase and a credit is made to the notes payable account to recognise the credit.
The total installment is debited for payment made in the first and second period.
The balance on the note payable represents the two outstanding principal payment of the $800,000 and the interest expenses represents the excess over the principal sum.
Answer: Blast would debit the product warranty expense with $3,250
Explanation: The cost of repair under warranty is 10% of salea price. The sales price per unit is $50 of which 650 CDs were sold.
Therefore the product warranty expense will be (10% * ($50 * 650 CDs)) = $3,250.
Answer:
c. $455.75
Explanation:
The computation of the quarterly payments is shown below:
= Balance amount ÷ PVIFA factor for 2.5% at 12 years
where,
Balance amount is
= $5,500 - $5,500 × 15%
= $5,500 - $825
= $4,675
And the PVIFA factor for 2.5% at 12 years is 10.2578
Refer to the PVIFA table
So, the quarterly payments is
= $4,675 ÷ 10.2578
= $455.75
In the case of quarterly payments, the rate is one fourth and time period would be 4 times
Answer:
1. Time is scarce so Trey must decide whether to buy the car as soon as possible or to keep his position on the team
2. Entrepreneurship
3. A supply truck
4. Josephine felt she could help students most by improving teachers' skills
5. Profit
6. The ability to produce goods at a lower price
7. Feels the marginal benefit of an extra hour of studying exceeds the marginal cost of not playing basketball.
Explanation:
1. Trey should not take too long to make his decision as time is scarce. If he does, then the price of the car may fluctuate or someone else might end up buying it.
2. Janice is the one who came up with the idea of setting up the business and she is also the risk-taker here. For this reason, she represents entrepreneurship.
3. A supply truck is the capital for a construction company because it is used as an input to deliver the material.
4. Josephine identified the problem that teachers need to be taught better management skills for the sake of students' success.
5. Profit is one of the many major goals of business owners because that amount is used to pay for future business-related needs. It is also important because it keeps the business up and running.
6. Singapore offered lowered rates of production. Although other facilities are better in Michigan the cost of production will increase a lot. Therefore, the ability to produce goods at a lower cost is the opportunity cost.
7. Russel believes that studying extra will make his future bright than playing basketball. Also, the benefits of studying are more than the disadvantages of not playing basketball.
Answer:
a) The default client Certificate or the Certificate and Key Management menu.
Explanation:
The universal containers desired to ensure that the communication existing between the Target System and the Salesforce is completely safe and secured, the UC must send the Outbound Message, default client Certificate as well as the menu of the Key Management. Therefore, the correct option is option a.
