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Soloha48 [4]
2 years ago
14

On January 15, 2021, Concord Company received a two-month, 6%, $8300 note from William Pentel for the settlement of his open acc

ount. The entry by Concord Company on January 15, 2021 would include a: credit of $8300 to Notes Receivable. credit of $8383 to Accounts Receivable. debit of $8383 to Notes Receivable. debit of $8300 to Notes Receivable.
Business
1 answer:
olganol [36]2 years ago
4 0

$10500.

What is credit and debit?

Events known as business transactions have a financial influence on an organization's financial statements. We enter the figures in two accounts, with the debit column on the left and the credit column on the right, to account for these transactions.

<u>Debit</u>

An accounting debit is an addition to an asset or cost account or a subtraction from a liability or equity account. In an accounting entry, it is placed to the left.

<u>Credit</u>

A credit is an accounting item that either raises or lowers an asset or cost account. It can also increase or decrease a liability or equity account. In an accounting entry, it is placed to the right.

Learn more about credit and debit with the help of given link:-

brainly.com/question/27917616

#SPJ4

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Norma is considering buying a certificate of deposit with the $500 she has in a regular savings account. Explain to her what fac
Molodets [167]

Answer:

The factors she could consider when choosing a certificate of deposit is explained below in detail.

Explanation:

A higher principal should/may obtain a greater interest rate.

A longer-term normally receives a greater interest rate, except in the matter of a modified yield curve.

Smaller businesses manage to offer greater interest rates than higher ones.

Individual CD accounts commonly obtain greater interest rates than business CD accounts.

4 0
2 years ago
Family​ Corporation, a corporation controlled by​ Buddy's family, redeems all of​ Buddy's stock. For the redemption to be treate
WINSTONCH [101]

Answer:

C. Buddy cannot be a creditor of the corporation after the redemption.

Explanation:

"A stock redemption that terminates a shareholder’s entire stock ownership in a corporation will qualify for sale or exchange treatment under § 302(b)(3). The attribution rules generally apply in determining whether the shareholder’s stock ownership has been completely terminated. However, the family attribution rules do not apply to a complete termination redemption if the following conditions are met:

   The former shareholder has no interest, other than that of a creditor, in the corporation for at least 10 years after the redemption (including an interest as an officer, director, or employee).

   The former shareholder files an agreement to notify the IRS of any prohibited interest acquired within the 10-year period and to retain all necessary records pertaining to the redemption during this time period."

Reference: South-Western, Thomson. “Chapter 5.” To Qualify for Sale or Exchange Treatment, a Stock Redemption Generally Must Result in a Substantial Reduction in a Shareholde, 2005,

7 0
3 years ago
A financial institution near you advertises itself as especially oriented towards educators and teachers. What is the category t
sergij07 [2.7K]

Answer:

Credit union.

Explanation:

A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks to employees such as teachers, educators, nurses, etc.

Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.

In this scenario, a financial institution advertises itself as especially oriented towards educators and teachers. Thus, the category this institution would most likely fall under is a credit union because it's not run like businesses that is after making profit i.e it's a non-profit business established to assist employees with their finances.

6 0
3 years ago
Read 2 more answers
Define CAMELS, why it was created and how the system works, and give the names of six factors of CAMELS
bearhunter [10]
  1. Capital adequacy
  2. Asset quality
  3. Management
  4. Earnings
  5. Liquidity
  6. Sensitivity

CAMELS is an international rating system to rate banks, it was created in the United States as a supervisory rating system.

In order to ensure their financial strength, banks have periodic examinations by a Office of the Comptroller of the Currency. Bank examiners issue CAMELS, a numerical rating to the bank as a result of the examination, examiners score each bank in the six factors listed above. Banks score between 1 and 5 in each category (1 being the highest).

Hope this helps, HAVE A BLESSED AND WONDERFUL DAY! As well as a great Valentines Day! :-)  

- Cutiepatutie ☺❀❤

5 0
3 years ago
Ralph is a former student in AECN 141. The first exam he scored a 60%, and did not study. The second exam he scored a 75% and st
sergeinik [125]

The marginal productivity of the first hour of studying is 15%.

<h3><u>What is Marginal Productivity?</u></h3>
  • The additional output, return, or profit generated per unit as a result of benefits from production inputs is referred to as marginal productivity or marginal product.
  • Raw materials and labor are examples of inputs. According to the rule of decreasing marginal returns, the marginal productivity will normally decrease as production rises when a production element is improved.
  • This indicates that for every extra unit of output produced, the cost advantage often decreases.
  • Diminishing marginal productivity is often recognized in its most straightforward form when a single input variable exhibits a drop in input cost.
  • For instance, a reduction in labor expenses during the car-manufacturing process would result in slight increases in profitability per vehicle.

Formula for Marginal Productivity = (Qn – Qn-1) / (Ln – Ln-1)

The total product value is divided by the difference in labor to determine the marginal product of labor.

Know more about Marginal Productivity with the help of the given link:

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7 0
2 years ago
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