Waterway industries signed a three-month, zero-interest-bearing note on november 1, 2020 for the purchase of $499900 of inventory. the face value of the note was $512500. waterway used a "discount of note payable" account to initially record the note. assuming that the discount will be amortized equally over the 3-month period and that there was no adjusting entry made for november, the adjusting entry made at december 31, 2020 will include a
a. debit to discount on note payable for $1,300.

b. debit to interest expense for $2,600.

c. credit to discount on note payable for $1,300.

d. credit to interest expense for $2,600.

Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25

Ann chovies, owner of the perfect pasta pizza parlor, uses 20 pounds of pepperoni each day in preparing pizzas. order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. if she were to order 80 pounds of pepperoni at a time, what would be the average inventory level?

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?