Crane Music Store borrowed $30600 from the bank signing a 10%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be
a. debit Interest Expense, $1,800; credit Interest Payable, $1,800.
b. debit Interest Expense, $150; credit Interest Payable, $150.
c. debit Note Payable, $1,800; credit Cash, $1,800.
d. debit Cash, $450; credit Interest Payable, $450.

Fdr had to resort to deficit spending with his first 100 days to with the recovery. describe what deficit spending was and how fdr felt about it. do you think think this was the right decision at the time, why or why not?

Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i.e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?