On July 1, 2017, Ferrero, Inc. purchased merchandise inventory for $350,000 by signing a note payable. The note is for 6 months and bears interest at a rate of 8%. Prepare the journal entry for this transaction, using a perpetual inventory system
What will be an ideal response
Merchandise Inventory 350,000
Notes Payable 350,000
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A corporation issues for cash $1,000,000 of 10%, 20-year bonds, interest payable annually, at a time when themarket rate of interest is 12%. The straight-line method is adopted for the amortization of bond discount orpremium. Which of the following statements is true?
a. The amount of the annual interest expense is computed at 10% of the bond carrying amount at the beginningof the year. b. The amount of the annual interest expense gradually decreases over the life of the bonds. c. The amount of unamortized discount decreases from its balance at issuance date to a zero balance atmaturity. d. The bonds will be issued at a premium.
According to the text, emotional intelligence can most likely be increased by using:
A) partnering relationships B) transactional sales methods C) non-verbal communication tools D) empathizing techniques E) self-development activities
Describe in detail the common courtesies and confident body language an interviewee should display to create a favorable first impression
Short-lived goods and services that are charged off as they are used rather than depreciated over several years are called
A. durables. B. capital items. C. nontaxable items. D. expense items. E. derived items.