The original amount of a note is called the

The interest accrued on money borrowed is called

A written & signed promise to pay a sum of money at a specified time is called a

The beginning balance of Supplies is $15,000, and the adjusting entry to record the supplies used is $10,000. The amount of supplies used during the fiscal period is $5,000.

Wilson, Inc. initially records supplies as an expense; therefore, it should record a reversing entry for supplies.

The accrual for federal income tax is recorded as an adjusting entry by debiting Federal Income Tax Payable and crediting Federal Income Tax Expense.

Supplies may be recorded initially as expenses or as assets.

When a note payable is repaid, the amount of cash paid equals the maturity value of the note.

If the principal of a 90-day note is $4,000 and the interest due at maturity is $100, the interest rate on the note is

If the term of a note is 6 months and the note is dated March 20, it is due

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