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Assoli18 [71]
3 years ago
9

An agreement to settle a debt for less than the sum claimed is referred to as?

Business
1 answer:
fomenos3 years ago
7 0
<span>An agreement to settle a debt for less than is owed is called an Accord and Satisfaction. this is because the accord is the original debt, and the term for the re-structured settlement. The satisfaction is the actual payment of that debt. Therefore, accord and satisfaction could be re-written as new agreement and payment.</span>
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Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:
vfiekz [6]

Answer:

The following are the answers to the question, using the FASB Acounting Standards Codification at the FASB website:

1. Topic 260, FASB Accounting Standards Codification is the topic number (Topic XXX) that provides the accounting for earnings per share.

2. FASB ASC 260-10-50-1

3. FASB ASC 260-10-50-2

3 0
2 years ago
The following selected amounts are available for Waterway Company: Retained Earnings (beginning balance) $1,050 Net loss 150 Cas
never [62]

Answer:

Ending retained earnings balance is 700.

Explanation:

In order to find the ending retained earnings we will have to start from the beginning retained earnings. The beginning retained earnings are 1050. Because the company has a net loss of 150 we will subtract 150 from 1050. And we are left with 900. After this we will subtract the 100 cash dividends as these are also paid from the retained earnings that the company has so we are left with 800. Also the company pays a stock dividend worth 100 so we will also subtract that and are left with 700. So the ending retained earnings balance is 700.

3 0
3 years ago
The general increase in prices over time we pay for good and services is known as inflation. question 5 options: true false
Gala2k [10]

It is true that the general increase in prices over time we pay for goods and services is known as inflation.

<h3>What is inflation?</h3>

Inflation is the term used to describe an increase in the price of goods and services that households buy. It is determined by how quickly these prices fluctuate. Prices frequently rise with time, but they can also fall (a situation called deflation).

The main categories of inflation are as follows:

Demand-pull inflation: It explains how rising prices for products and services can result from increased demand. People will typically pay more for something if there is a shortage of it.

Cost-push inflation:  When demand-pull inflation is active, it frequently starts up. Businesses must raise their pricing as a result of rising raw material costs, regardless of market demand.

Built-in inflation: Employees may start requesting pay increases from their employers as demand-pull inflation and cost-push inflation take place. Employers risk experiencing a labor scarcity if they don't keep their pay competitive.

Built-in inflation occurs when a company increases employee wages or salaries while also trying to maintain profit margins by boosting prices.

To know more about inflation, visit:

brainly.com/question/28190771

#SPJ4

8 0
1 year ago
When interest is accrued on a note payable, but not paid, the A. Interest Expense account is increased; the Interest Payable acc
olchik [2.2K]

Answer:

C. Interest Expense account is increased; the Interest Payable account is increased.

Explanation:

A secured interest can be defined as a legal right granted by a borrower to a lender (creditor) over a collateral (the borrower's property) which permits or allow the lender to have a right to possess the property as soon as the lender defaults in making payment. The payment which is expected to be made by the borrower of a mortgage loan is considered a secured obligation because it is a lien or an enforceable legal claim.

When interest is accrued on a note payable, but not paid, the Interest Expense account is increased; the Interest Payable account is increased.

8 0
2 years ago
Momber's Flooring Company
alex41 [277]

Answer:

Net Cash Flows from Operating Activities for 2012 will be $2,082

Explanation:

Prepare the Cash flow from Operating Activities Section to determine the Net Cash Flows from Operating Activities.

Cash flow from Operating Activities :

Net income                                                                       3,382

Adjustment for Non-Cash items :

Depreciation 810

Adjustment for Changes in Working Capital items :

Decrease in Accounts Receivables                                 200

Increase in Inventory                                                       -500

Decrease in  Notes payable                                            -400

Decrease in Accounts payable                                     -1,000

Increase in Accruals                                                          400

Net Cash Flows from Operating Activities                    2,082

Conclusion :

Net Cash Flows from Operating Activities for 2012 will be $2,082

8 0
3 years ago
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