Solved

Mama's Pizza Shoppe Borrowed $8,000 at 9% Interest on May

Question 44

Multiple Choice

Mama's Pizza Shoppe borrowed $8,000 at 9% interest on May 1, 2013, with principal and interest due on October 31, 2014. The company's fiscal year ends June 30, 2013. What adjusting entry is necessary on June 30, 2013?


A) Mama's Pizza Shoppe borrowed $8,000 at 9% interest on May 1, 2013, with principal and interest due on October 31, 2014. The company's fiscal year ends June 30, 2013. What adjusting entry is necessary on June 30, 2013? A) B) C) D)
B) Mama's Pizza Shoppe borrowed $8,000 at 9% interest on May 1, 2013, with principal and interest due on October 31, 2014. The company's fiscal year ends June 30, 2013. What adjusting entry is necessary on June 30, 2013? A) B) C) D)
C) Mama's Pizza Shoppe borrowed $8,000 at 9% interest on May 1, 2013, with principal and interest due on October 31, 2014. The company's fiscal year ends June 30, 2013. What adjusting entry is necessary on June 30, 2013? A) B) C) D)
D) Mama's Pizza Shoppe borrowed $8,000 at 9% interest on May 1, 2013, with principal and interest due on October 31, 2014. The company's fiscal year ends June 30, 2013. What adjusting entry is necessary on June 30, 2013? A) B) C) D)

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q37: Prepayments occur when:
A) Cash flow precedes expense

Q39: Davis Hardware Company uses a perpetual inventory

Q41: A future economic benefit owned or controlled

Q42: On November 1, 2013, Tim's Toys borrows

Q43: Yummy Foods purchased a two-year fire and

Q44: Dave's Duds reported cost of goods sold

Q46: On September 15, 2013, Oliver's Mortuary received

Q47: Which of the following accounts has a

Q49: On September 1, 2013, Fortune Magazine sold

Q55: In its first year of operations Best

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents