Business, 04.07.2020 02:01, oliup567

The following selected transactions relate to liabilities of Food Emporium whose fiscal year ends on December 31. January 26 Negotiated a line of credit with City Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $10.60 million at the bank's prime rate.

March 1 Arranged a six-month bank loan of $350,000 with City Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity.

September 1 Paid the 8% note at maturity.

Record the appropriate entries, if any, on January 26, March 1, and September 1.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 16:40, adreyan3479

Job 456 was recently completed. the following data have been recorded on its job cost sheet: direct materials $ 2,418 direct labor-hours 74 labor-hours direct labor wage rate $ 13 per labor-hour machine-hours 137 machine-hours the corporation applies manufacturing overhead on the basis of machine-hours. the predetermined overhead rate is $14 per machine-hour. the total cost that would be recorded on the job cost sheet for job 456 would be: multiple choice $3,380 $5,298 $6,138 $2,622

Answers: 1

continue

Business, 22.06.2019 19:30, Wayne4345

John's pizzeria and equilibrium john is selling his pizza for $6 per slice in an area of high demand. however, customers are not buying his pizza. using what you learned about the principles of equilibrium, write three to four sentences about how john could solve his problem.

Answers: 1

continue

Business, 23.06.2019 01:20, swiseman6703

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east westsales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 )the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss) of: multiple choice$91,900$(64,100)$(142,000)$(5 0,100)

Answers: 3

continue

Business, 23.06.2019 03:00, dontcareanyonemo

Madeline quits her job, at which she was earning $20,000 per year. she then takes $50,000 out of savings, on which she was earning 10% interest, and uses it to buy supplies for her business. she also pays $10,000 in rent on the building and $15,000 in additional labor costs. in her first year of operations, madeline receives $150,000 in revenue from sales. instructions: round each answer to a whole number. madeline's accounting cost is

Answers: 1

continue

Do you know the correct answer?

The following selected transactions relate to liabilities of Food Emporium whose fiscal year ends on...