Profit Inc., a manufacturing firm, has purchased raw materials worth $10,000 on credit from its vendors. The business plans to settle the vendor’s full payment after two months. Under "current liabilities"section of balance sheet this account will be recorded as "account payable".
Answer: Option (B) is correct
<u>Explanation:</u>
Raw material purchased on credit from a vendor is a liability and it is shown under current liabilities in "accounts payable". Since raw material purchased on credit and payment is to be made after two months.
Payment due gives rise to liability. Now current liability is a company's short term obligations that are to be paid back within a year. Here the firm will have to make payment within two months to the vendor.
Answer:
$62,400
Explanation:
Assets are Economic resources controlled by the entity as a result of past events from which cash is expected to flow into the business.
Assets include the following Amounts:
Cash from Bank Note $20,000
Cash from Stock Issues $40,000
Supplies Inventory $4,000
Payment for Supplies ($1,600)
Total Available Assets $62,400
Answer:
Information overload
Explanation:
Information overload can be described as a type of difficulty experienced by individuals in some situations, it is as a result of too much information present at a particular time, this makes it hard for the individual to carry out the right decision.
As individuals we come across a lot of information daily, but our brains can only process such information one at a time, if we attempt to process more data it may lead to the overstressing of the brain capacity which may eventually cause information overload.
When manufactured goods are used to produce other goods and services, they are called capital goods.<span>True</span>
Given the details above which includes the amount for the rent per month and the security deposit, Kim-Su is required to pay the first month's rent, the last month's rent and the security deposited. Based on this, I can say that the total amount Kim-Su needs is $715 + $715 + <span>$465 is $1,895. Hope this answer helps.</span>
