Which of the following accounts will eventually be followed with an outflow of cash?
a. Design Revenue
b. Notes Receivable
c. Accounts Payable
d. Prepaid Rent
C
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On July 1, 2016, Overlin Corp purchased $100,000 of 8% bonds at face value. Interest is paid annually on June 30 . If the accounting year for Overlin ends at December 31, 2016, what will be reported with respect to the bonds on that date?
a. The carrying value of the bonds will be $108,000. b. The cash received in interest will be $8,000. c. Interest income in the amount of $4,000 will be accrued. d. A loss on the bonds will be reported in the Other Income and Expense section of the 2016 income statement until the entire amount of interest is paid on June 30, 2017.
House of Cards is an online TV series developed by which of the following?
A. Amazon Studios B. HBO C. Netflix D. Hulu
The journal entry for accrued interest on a note payable includes ________.
A) a debit to Interest Expense and credit to Cash B) a debit to Interest Expense and credit to Interest Payable C) a debit to Interest Payable and credit to Cash D) a credit to Interest Expense and debit to Notes Payable
On what needs do (1) management accounting and (2) financial accounting focus?