The single most important reason for investing is for ________

On December 31, 2017, Stellar Company had $1,159,000 of short-term debt in the form of notes payable due February 2, 2018. On Ja

Phoenix [80]

Answer:

Explanation:

Before showing how short term debt should be presented before doing this we have to classify the items in each head

Like - In current liabilities, notes payable is recorded at $11,500

And, in the long term liabilities, the proceed after brokerage fees for $1,147,500 should be recorded.

The total amount would remain the same i.e $1,159,000

Kindly find the attachment below:

5 0

3 years ago

QS 11-9 Recording warranty repairs LO P4 On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty

prisoha [69]

Answer:

On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts

Recording of revenue:

Cash $490 (debit)

Revenue $490 (credit)

Recording of Warranty granted :

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory

When warranty is subsequently received:

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Explanation:

On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts

Recording of revenue:

Cash $490 (debit)

Revenue $490 (credit)

We Recognise Revenue to depict transfer of control of mower

Recording of Warranty granted :

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

There is no option for customer to take the warranty or not, so this is a service warranty.The warranty is measured at the best estimate of expenditure required to settle the obligation that is at 10% of sales.

On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory

When warranty is subsequently received:

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Utilise the Warranty Provision when the warranty claim is subsequently received

7 0

3 years ago

Name four components of brand advocacy.

natali 33 [55]

Answer:

program goals, criteria for selection, a plan for onboarding and a plan for continued engagement

7 0

3 years ago

Explain the difference between a direct tax and an indirect tax.

leonid [27]

Answer:

Taxes can be either direct or indirect. A direct tax is one that the taxpayer pays directly to the government. These taxes cannot be shifted to any other person or group. An indirect tax is one that can be passed on-or shifted-to another person or group by the person or business that owes it.

Explanation:

4 0

3 years ago

Read 2 more answers

During the fourth quarter ended December 31, Year 1, Lighting Fixtures Inc. (LFI) had average outstanding revolving bank loan

IrinaK [193]

Answer:

December 31, Year 1 DR. Cr.

Accrued Interest Expense $7,500

Interest Payable $7,500

Explanation:

On December 31 Year 1 Interest was accrued and It was recorded by the Lighting Fixtures Inc. (LFI) but its outstanding now. Lighting Fixtures Inc. (LFI) paid the interest on January 15, at this time a payment entry of a payable interest was be made. Expense was charged on December 31 of year 1.

8 0

3 years ago

Read 2 more answers

The single most important reason for investing is for _________.