The following are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. (a) Sold merchandise on account for $64,000 to a customer. select a type of receivables (b) Received a promissory note of $57,000 for services performed. select a type of receivables (c) Advanced $10,000 to an employee.
Answers: 3
Business, 22.06.2019 11:10
Yowell company granted a sales discount of $360 to a customer when it collected the amount due on account. yowell uses the perpetual inventory system. which of the following answers reflects the effects on the financial statements of only the discount? assets = liab. + equity rev. β exp. = net inc. cash flow a. (360 ) = na + (360 ) (360 ) β na = (360 ) (360 ) oa b. na = (360 ) + 360 360 β na = 360 na c. (360 ) = na + (360 ) (360 ) β na = (360 ) na d. na = (360 ) + 360 360 β na = 360 na
Answers: 1
Business, 22.06.2019 18:30
Amanufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. in the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant for $2,100,000. what should the manufacturer do?
Answers: 1
Business, 22.06.2019 20:30
When patey pontoons issued 4% bonds on january 1, 2018, with a face amount of $660,000, the market yield for bonds of similar risk and maturity was 5%. the bonds mature december 31, 2021 (4 years). interest is paid semiannually on june 30 and december 31?
Answers: 1
Business, 23.06.2019 01:40
During a liquidation, a partner's capital account balance drops below zero. what should happen? select one: a. the deficit balance should be removed from the accounting records with only the remaining partners sharing in future gains and losses.b. the partner with a deficit should contribute enough assets to offset the deficit balance if he is solvent.c. the other partners should contribute enough assets to offset the amount of deficit if the partner with a deficit is insolvent.d. both b & c
Answers: 3
The following are three receivables transactions. Indicate whether these receivables are reported as...
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