FINANCIAL ACCT-CONNECT
8th Edition
ISBN: 9781266627903
Author: Wild
Publisher: INTER MCG
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Chapter 10, Problem 10SP
Summary Introduction
Introduction:The debt to equity ratio differentiate between companies and industries. It is a financial ratio used to formulate the company’s assets by proportinating the shareholder’s equity and debt.
To determine: Calculate the maximum amount that borrow from bank.
2.
Summary Introduction
Introduction: The debt to equity ratio differentiate between companies and industries. It is a financial ratio used to formulate the company’s assets by proportinating the shareholder’s equity and debt.
To determine: Calculate the Percentage of asset.
3.
Summary Introduction
Introduction: The debt to equity ratio differentiate between companies and industries. It is a financial ratio used to formulate the company’s assets by proportinating the shareholder’s equity and debt.
To determine: Some factors that are consider before borrowing the funds.
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Kelly Jones and Tami Crawford borrowed $30,000 on a 7-month, 9% note from Gem State Bank to open their business, Crane’s Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023.
Correct answer iconYour answer is correct.
Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Jason and Matthew borrowed $38.400 on a 7-month, 5% note from Gem State Bank to open their business, Blossom's Coffee House
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✓ Your answer is correct.
Prepare the entry to record the receipt of the funds from the loan. (List all debit entries before credit entries, Credit account titles are
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Kelly Jones and Tami Crawford borrowed $33,000 on a 7-month, 6% note from Gem State Bank to open their business, Crane’s Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023.
Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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enter an account title to record the receipt of the funds from the loan on June 1
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Chapter 10 Solutions
FINANCIAL ACCT-CONNECT
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