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3 years ago

Financial assets Group of answer choices

Business

1 answer:

Marizza181 [45]3 years ago

6 0

Answer:

indirectly contribute to the country's productive capacity.

Explanation:

Financial assets are non physical assets, deriving value from contractual claims. Eg - Bank deposits, Stocks & Bonds etc.

These indirectly contribute to country's productive capacity as : They act as main tools for mobilising funds, savings & investment in Economy. This savings, investment mobilisation enable economy's entrepreneurial sector to raise capital & enhance their & the country's productive capacity.

Example : Companies raising capital from public share issue , borrowing from banks mobilising public household savings.

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The Macro Islands can produce either 250 bamboo towels or 500 botanical soaps using all its resources. The Micro Islands can pro

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What makes infographics great marketing tools ?

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3 years ago

Read 2 more answers

On November 1, Vacation Destinations borrows $1.57 million and issues a six-month, 9% note payable. Interest is payable at matur

Keith_Richards [23]

Answer:

(a) To Record the issuance of the note

Debit Cash $1.57 million

Credit Notes payable $1.57 million

<em>(To record notes payable issuance)</em>

(b) Adjusting entry for interest expense at December 31:

Debit Interest expense $23,550

Credit Interest payable $23,550

<em>(To record interest expense on notes payable as at Dec 31)</em>

Explanation:

Note payable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest expense on the notes is calculated as: Principal x Interest Rate x Time

In this case, the total interest expense is $1.57 million x 9%/12 x 6 months = $70,650.

Total interest expense to the Company as at December 31 is therefore $70,650 / 6 months x 2 months = $23,550.

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3 years ago