Notes payable is the only other item on the balance sheet. notes payable must equal total assets.
<h3>What is Notes payable?</h3>
Notes payable can be described as the long-term liabilities which help to show the money a company is owning the financiers.
It should be noted that this financier could be banks and other financial institutions , however they are long-term because they are payable beyond 12 months, hence Notes payable is the only other item on the balance sheet. notes payable must equal total assets.
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Answer:
A) Allowance method of accounting bad debts
Explanation:
Based on the allowance method, the bad debts should be calculated on either credit sales i.e. income statement method or receivable aging method i.e. balance sheet method. Also, the account receivable should be recognized at net realizable value
Therefore the allowance method of accounting bad debts is an answer
Answer:
$39,200
Explanation:
The computation of sales Price per unit is shown below:-
Required return
= $350,000 × 11.2%
= $39,200
Assuming that all the 35000 units are sold, the return per unit
= $39200 ÷ $35,000
= 1.12
Total variable cost per unit = 11.2
%
So,
Sales per unit = (Sale price per unit × sold units) - (Sold units × Total variable cost per unit) - (Factory overhead cost + Sold units)
= (Sale price per unit × 35,000) - (35,000 × 11.2%) - ($105,000 + $35,000)
= $39,200
Therefore for computing the sales per unit we simply applied the above formula.
Answer:
b. not valid.
Explanation:
Validity of a research is an indicator of how logical an argument is, also considers the method used and the design. Validity means that there is an established relationship in the data that has been collected.
In this instance there is no correlation between the number of junk mail received by a family and their wealth, then her argument is not valid.