Answer:
The note will be stated as a long term liability on the balance sheet of the company.
Explanation:
Long term liability is the financial responsibility of the business which is due for more than a year in the future. The present portion of the long term debt which is separately listed in order to provide a more accurate view of the liquidity and the ability of the company to pay the current liabilities as they become due.
Company borrowed $10,000 from bank by singing a note of 2 year. This would be considered as the long term liability.
Answer:
The correct answer is "Government Administrative Rate Supplement (GARS)".
Explanation:
- GARS seems to be a recurring charge, which would be supposed to resolve the investment corporation's incurred expenses that are unique to government operations.
- However, according to my administrator, the policy which will be everyone's insurance becomes expected to include a GARS plan for $5 each day.
Such that the solution provided above is the right one.
Answer:
See below
Explanation:
First we will compute the ending retained earnings
= Beginning retained earnings $4,615 + Revenue $7,010 - Dividends $500
= $11,125
Then , the total assets of EEE corp. would be
= Capital contributed $820 + Retained earnings $11,125 + liabilities at year end $5,225
= $17,170
Answer:
Average return for one year is 9.6 %
Explanation:
Computation of average return
Lets assume the cost of each share to be 100
Opening Growth Closing
Value % Value
Company A 50 % at 100 5,000 8 % 5,400
Company B 30 % at 100 3,000 12 % 3,360
Company C 20 % at 100 <u>2,000</u> 10 % <u>2,200</u>
Total values 10,000 10,960
Increase in value over base divided by base equals the average return
10,960 - 10,000 = 960/ 10000 = 9.6 % average return
Answer:
The purchases of raw material for February are budgeted to be 20275 pounds.
Explanation:
The opening inventory of raw material in February should be equal to 25% of the production requirement for the month of February. Thus, the opening balance of raw material is,
Opening balance- Raw material = 0.25 * 20600 = 5150 pounds
Similarly, the closing inventory for raw material for the month of February should be equal to the 25% of production requirement for the month of March. Thus, the closing inventory of raw material in the month of February is,
Closing balance = 0.25 * 19300 = 4825 pounds
Purchases of raw material should be enough to produce enough units to meet February's production requirement after using the opening inventory of raw material along with having enough desired closing inventory of raw material. So, the purchases of raw material are,
Purchases = Closing inventory + Production - Opening Inventory
Purchases = 4825 + 20600 - 5150
Purchases = 20275 pounds
