All categories

3 years ago

Which of the following statements about the recording of interest on notes receivable is correct?

Business

1 answer:

Vadim26 [7]3 years ago

5 0

Answer:

c. Interest on notes receivable is recognized when it is earned, which is not necessarily when the interest is received in cash.

Explanation:

Accrual principle of accounting is applied when it comes to recording of interest on notes receivable.

Accrual principle states that revenue or expense is recognized when it incurs or occurs not when it is paid or received.

Thus, Interest on notes receivable is recognized when it is earned, which is not necessarily when the interest is received in cash.

You might be interested in

5) If workers demand and receive higher real wages (a successful wage push), the cost of production ________ and the short-run a

luda_lava [24]

Answer:

The answer is C.

Explanation:

If workers demand and receive higher real wages the cost of production will rise. This is because workers(labor) is an input of production. The wages is the reward for the direct labor for work done. So increase in wages lead to an increase cost of production.

Due to this, the short-run aggregate supply curve shifts leftward i.e reduces the market supply because producers will produce less at a high cost of production and produce more at a lower cost of production.

6 0

3 years ago

What is a joint production process? Describe a special decision that commonly arises in the context of a joint production proces

Tanya [424]

Answer:

Quy trình sản xuất nói chung là quá trình con người tác động vào tài nguyên thiên nhiên để biến chúng thành các sản phẩm có ích cho xã hội.

Explanation:

8 0

3 years ago

Castelda company issues zero coupon bonds which mature in 30 years. These bonds can be bought for $999.38 and then pay no annual

professor190 [17]

Answer:

16.59%

Explanation:

We are given the present value of the bonds, their future value and the time, we need to calculate the rate:

FV = PV (1 + rate)ⁿ

FV = 100,000
PV = 999.38
n = 30

100,000 = 999.38 (1 + rate)³⁰

(1 + rate)³⁰ = 100,000 / 999.38 = 100.062

1 + rate = ³⁰√100.062 = 1.1659

rate = 1.1659 - 1 = 0.1659 or 16.59%

8 0

3 years ago

Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions

balu736 [363]

Answer:

Gram Co.

Statement of cash flows

For the month ended May 31, 202x

Cash flows from operating activities:

Net income $5,590

Adjustments to net income:

Increase in accounts payable $80

Net cash flow from operating activities $5,670

Cash flows from investing activities:

Purchase of office equipment ($2,020)

net cash flow from investing activities ($2,020)

Cash flows from financing activities:

Issuance of common stock $43,500

Paid dividends ($1,600)

Net cash flow from financing activities $41,900

Net cash increase during May $45,550

Initial balance of cash account $0

Ending balance of cash account (5/31) $45,550

Explanation:

operating cash flows:

rent expense ($2,400)

cleaning services ($780)

service revenue $5,300 + $2,400 + $3,200

assistant's salary ($790)

accounts payable increased by $80

assistant's salary ($790)

utilities bill ($550)

total revenue = $10,900

total expenses = $5,310

net income = $5,590

investing cash flows:

purchased equipment for $1,940

purchased office equipment $80

financing cash flows:

Issuance of common stock $43,500

paid dividends ($1,600)

7 0

3 years ago

What is Gravitational law and how yo solve it

SSSSS [86.1K]

Explanation:

I believe this is what you are asking for, Newton's law of gravitation.

The law of Newton's universal-gravitation states that every particle will attract every other particle in the universe. The force that attracts this is a force that is directly proportional to a product of the mass.

7 0

3 years ago