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Author Question: An activity-based costing system is necessary for costing services that are similar. Indicate ... (Read 344 times)

burton19126

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on: Jul 5, 2018
An activity-based costing system is necessary for costing services that are similar.
 
  Indicate whether this statement is true or false.

Question 2

On November 1, Nikle Company made a cash payment of 200,000 on a note payable that was generated in thepurchase of a building and land. Provide the journal entry for this transaction.


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leannegxo

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Reply #1 on: Jul 5, 2018
Answer to Question 1

Answer: FALSE

Answer to Question 2

Nov. 1 Notes Payable 200,000
Cash 200,000
Made payment on note payable.


burton19126

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

cpetit11

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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