On January 1, 2017, Anderson Tools Company purchases machinery with a fair value of $300,000 by paying $50,000 in cash and signing a 10-year mortgage note at 13% for the balance. Prepare the journal entry for January 1, 2017
What will be an ideal response
Machinery 300,000
Mortgage Payable 250,000
Cash 50,000
You might also like to view...
Answer the following statements true (T) or false (F)
1. Like advising, reflecting tends to redirect, close, or limit the flow of communication. 2. It’s typically not possible to be both rational and highly emotional at the same time. 3. Empathic leaders tend to be less effective. 4. It does not really matter what someone knows; what counts is how they feel. 5. Companies with more women in leadership positions perform better.
A chief executive officer (CEO) encourages the implementation of innovative ideas. The CEO is demonstrating a management style described in which theory?
A. Erikson’s life cycles B. McGregor’s Theory Y C. Herzberg’s dissatisfiers D. scientific management theory
A method for conducting risk factor identification that consolidates the judgments of isolated anonymous respondents is:
A) A brainstorming meeting. B) The Delphi method. C) Past history. D) Multiple assessments.
The conceptual models for understanding organization change are ______.
A. easy to replicate B. substantially similar in presenting overlapping frameworks for understanding how change can occur C. psychologically based D. sociologically based