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garik1379 [7]
3 years ago
6

At December 31 of the current year, Cart Company has a $16,000 Notes Receivable from a customer. Interest of 5% has accrued for

9 months on the note. What will be reported on the Balance Sheet?
Business
1 answer:
lyudmila [28]3 years ago
6 0

Answer: $23,200 as total current asset for the period

Explanation:

Note Receivable has a value $16,000

Interest on Note = 5%

Accrued for 9 months

Yearly Interest accrued = 16,000*5%*12= 9,600

Interest for 9 months = 9600/12*9 = 7,200

Balance sheet Extract

Other Income

Int Accrued on Note Receivable      $7,200

Current Asset

Note Receivable                                $16,000

Int Accrued on Note Receivable      $7,200

Total Current Asset                            $23,200

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Answer:

The amount of discount that will be taken is $300.4

Explanation:

The amount of discount that will be taken will be on the value of accounts payable that is eligible for pay after adjustments.

The accounts receivable balance after adjusting for purchases returns and defective goods is:

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The accounts payable amount that is eligible for discount is:

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3 years ago
Which term is defined as the government setting the maximum amount that a property owner can charge a tenant?
denis-greek [22]
The answer to your question is "rent control". Hope this helps!
3 0
3 years ago
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4 0
3 years ago
In general, trademark protection prevents another firm from using the same or a similar name, logo, or other identifying charact
photoshop1234 [79]

Answer:

True

Explanation:

Firms and organisations need to register their companies as this helps them to avoid any problem related to the company's name and trademark in the future. Furthermore, trademark protection prevents another firm to copy another firms name, logo or tagline which can create confusion in the minds of potential buyers. Trademark protection costs a very minimal amount but protects a company's name.

6 0
3 years ago
Pineapple International uses a job order costing system. Pineapple's accounting manager estimated that direct labor would be $2,
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$6.65 per hour

Explanation:

We can determine the predetermined overhead rate by

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7 0
3 years ago
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