Answer:
a.
Cash $4,500 (debit)
Deferred Revenue $4,500 (credit)
b.
Prepaid Advertising $2,700 (debit)
Cash $2,700 (credit)
c.
Salaries Expense $8,000 (debit)
Salaries Accrued $8,000 (credit)
d.
J1
Cash $70,000 (debit)
Note Payable $70,000 (credit)
J2
Interest Expense $2,100 (debit)
Note Payable $2,100 (credit)
Explanation:
a.
Recognize Cash and Deferred Revenue
b.
Recognize Asset - Prepaid Advertising and De-recognize Cash
c.
Recognize Salaries Expense and Recognize Salaries Accrued Liability
d.
J1
Recognize Cash Asset and Recognize Liability - Note Payable
J2
Recognize Interest income accrued on the Note Payable during September to December.
This is an Affirming the Consequent argument. It is the name
of an invalid conditional argument form or an invalid form of the modus ponens.
This is easily identified by remembering that any argument
that affirms the consequent is invalid.
Answer:
$74,900
Explanation:
Given that,
Cash = $25,000
Patents, = $7,900
Accounts receivable, = $9,300
Property, plant, and equipment, = $98,700
Prepaid insurance, = $3,600
Accumulated depreciation, = $10,000
Inventory, = $37,000
Retained earnings, = 15,500
Trademarks, = $12,600
Accounts payable, = $8,000
Goodwill, = $11,000
Therefore,
Huron's current assets:
= Cash + Accounts receivable + Prepaid insurance + Inventory
= $25,000 + $9,300 + $3,600 + $37,000
= $74,900
