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2 years ago

Notes payable due in six months are reported as

1 answer:

3 0

A short-term liability is a payment that is due in 12 months or less. Hence notes payable due in six months is reported as a short-term liability.

<h3>What is a liability?</h3>

In the parlance of Accounting and Finance, a Liability is a financial obligation that the company owes to individuals, or organizations with which it has transactional or legal relationship.

Hence, it is correct to indicate that notes payable due in six months is reported as a short-term liability.

Learn more about liability at;
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The differences between career and non career

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A career is something that can last forever well a non career is a thing that can end quickly

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3 years ago

Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hou

Masteriza [31]

Answer:

The incremental cost is ($10,360)

Explanation:

Analysis of total cost over the 5 year period

Retain Old Machine Buy New Machine

Variable / Incremental Operating

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Purchase Cost of New Machine 25,080

Total Cost 133,180 122,820

The use of new machine will result in lower cost for the next 5 years.The incremental cost is ($10,360)

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3 years ago

Global temperature trends can be inferred from changes in

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Global temperature trends can be inferred from changes in fossils and chemical isotopes found in sediments and glacial ice

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3 years ago

E3-27 (book/static) The Home Style Eats has two restaurants that are open 24 hours a day. Fixed costs for the two restaurants to

vazorg [7]

Answer:

Explanation:

Contribution Margin=Sales - variable cost =$8.75-$3.50=$5.25

Contribution Margin Ratio = Contribution Margin / Sales = $5.25/ $8.75=60%

Pre-Tax Net Income=Net Income/(1-tax rate)

$117,600/(1-0.36)=$183,750

Target Revenue =Fixed cost +Target Pre-Tax net Income/Contribution margin Ratio =($430,500+$183,750)/0.6=$1,023,750

2. Number of customers needed to Break Even

Fixed costs/Contribution margin per unit=$430,500/$5.25=82,000 Customers

Number of customers to earn 117,600 = (Fixed costs + 117,600)/5.25 = (430,500+117,600)/5.25 = 104,400

Sales (170,000*8.75) 1,487,500

Less: Cost of goods sold (170,000*3.50) -595,000

Contribution margin 892,500

Less: fixed costs -430,500

Net Income before tax 462,000

Less: tax rate (462,000*36%) - 166,320

Net Income after tax 295,680

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2 years ago

1) Suppose that papers for a newspaper stand cost $0.40 and sell for $0.80. They currently have no salvage value. If the stand o

lys-0071 [83]

Answer:

C) .07

Explanation:

Current cost of newspaper = C

= $0.40 / units

Current price of newspaper = P

= $0.80 / UNIT

Current salvage value = S = 0

Cost of under ordering = Cu

= P – C

= $40

Cost of over ordering = C – S

= $0.40

Critical ratio = Cu/ ( Cu + Co )

= 0.4 / ( 0.4 + 0.4)

= 0.5

Since critical ratio defines the probability of optimum demand ,

We can consider service level ( %) = Critical ratio x 100

Current service level = 50 %

When the salvage value = $0.1 ,

Cost of under ordering = Cu

= P – C

= $40

Cost of over ordering = C – S

= $0.40 - $0.1

= $0.30

Critical ratio = Cu/ ( Cu + Co )

= 0.4 / ( 0.4 + 0.3)

= 0.4/0. 7

= 0.5714

The revised service level = 0.5714 x 100 = 57.14 %

Therefore, The increase in service level is 0.07.

4 0

3 years ago