1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elza [17]
3 years ago
6

What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet?

As trade notes and accounts receivable if they otherwise qualify as current assets. As assets but separately from other receivables. As offsets to capital. By means of footnotes only.
Business
1 answer:
kiruha [24]3 years ago
5 0

Answer:

As assets but separately from other receivables.

Explanation:

When a company lends money to its employees, managers or affiliated companies, or sells goods or services to them, it must report those accounts or notes receivables in a separate account than normal transactions carried out with external customers. This happens because the transactions must be verifiable to check if they were legal and followed the proper procedures, and at what price or interest rate were they carried out. E.g. a corporation that lens $10 million to its CEO at 1% interest rate is not doing things properly and that transaction should be reversed and proper interest rates must be charged.  

You might be interested in
Please answer quick
Kitty [74]
It is easier to stick to a budget if you can spend some money on things you enjoy.
8 0
2 years ago
Choose the answer that correctly identifies the conflict management styles represented by each version. a. 1- non-confrontationa
patriot [66]

Hi, you've asked an incomplete question. However, the missing question read;

Version 1: George walks away. He never talks to Elaine or Jerry again.

Version 2: George confronts Elaine, saying “I am angry about what you have been saying. I do not want you spreading rumors about me. If you have a problem, please see me about it.”

Version 3: George yells at Elaine to shut u.p and then confronts his boss demanding to know why he’s going to be fired.

Version 4: George demands that Elaine tell him where she heard that. Elaine tells him not to worry about it and tries to crack a joke about how much the boss is late.

Answer:

  • <u>Version 1: non-confrontational</u>
  • <u>Version 2: cooperative</u>
  • <u>Version 3: confrontational</u>
  • <u>Version 4: confrontational and cooperative</u>

Explanation:

1. In this scenario it is evident that George avoids confrontation with Elaine. In fact, we are told that "[He] walks away..."

2. In this scenario, however, we notice a cooperative deposition between George and Elaine. He made this lear when he said, "...If you have a problem, please see me about it.”

3. Confrontation occurs in this scenario as we are told that "George... then confronts his boss demanding to know why he’s going to be fired. "

4.  By demanding "that Elaine tells him where she heard that" indicates confrontation. While Elaine's cracking a joke about how much the boss is late shows cooperation.

4 0
2 years ago
Read 2 more answers
Ahmed Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and me
vazorg [7]

Answer:

Budgeted amounts:                 June              July              August

1. Purchases                             $1,480,000   $1,570,000   $1,220,000

2. Cost of goods sold              $1,240,000   $1,770,000   $1,190,000

Explanation:

The computations are shown below:

1.

Budgeted amounts:                 June              July              August

Ending accounts payable         $130,000    $300,0000    $120,000

Payments on account              $1,500,000  $1,400,000     $1,400,000

Subtotal                                  $1,630,0000 $1,700,000      $1,520,000

Beginning accounts payable  ($150,000)     ($130,000)      $300,000)

Purchases                                $1,480,000   $1,570,000     $1,220,000      

2.

Budgeted amounts:                 June               July                   August

Beginning inventory                 $260,000      $500,000      $300,000

Purchases                                 $1,480,000   $1,570,000     $1,220,000      

Cost of goods available for sale  $1,740,000 $2,070,000  $1,520,000

Ending inventory                         (500,000)     (300,000)     (330,000)

Cost of goods sold                      $1,240,000   $1,770,000   $1,190,000

 

7 0
2 years ago
SEND HELP ASAP PLEASE IM CRYING I NEED HELP
Klio2033 [76]

Answer: D because it is D

4 0
2 years ago
A company purchased factory equipment on April 1, 2021 for $175000. It is estimated that the equipment will have a $25000 salvag
bija089 [108]

Answer:

b. $11250

Explanation:

Capitalized Cost of Equipment = $175,000

Life of Assets = 10 years

Residual value = $25,000

Depreciable value = Cost - Salvage value

Depreciable value = $175,000 - $25,000

Depreciable value = $150,000

Depreciation per year = Depreciable value / Life of assets

Depreciation per year = $150,000/10 years

Depreciation per year = $15,000

Depreciation from April to December 2021 = $15,000*9/12

Depreciation from April to December 2021 = $11,250

3 0
2 years ago
Other questions:
  • What is the key factor in determining sales mix if a company has limited resources?
    12·2 answers
  • The case of Fujitsu Ltd. v. Federal Express Corp. had to do with whether:
    5·1 answer
  • Athlon Company acquired 30 percent of the common stock of Opteron Corporation, at underlying book value. For the same year, Opte
    8·1 answer
  • Juan spends all of his income on baseball cards and candy. At his current consumption bundle, the marginal utility of baseball c
    13·1 answer
  • Sigmund Jewelers creates inexpensive costume necklaces, bracelets, and rings. As a way to save costs on sending out these small
    6·1 answer
  • 5b. MousePad Computer Company, in addition to its retail sales, conducts night classes in computer technology. MousePad has prov
    13·1 answer
  • The management at Dime Corporation is investigating purchasing equipment that would increase sales revenues by $527,000 per year
    12·1 answer
  • The following expenditures relating to plant assets were made by Prather Company during the first 2 months of 2020.
    11·1 answer
  • I’m terms of production, what best describes the difference between capitalism and socialism?
    9·1 answer
  • A bilateral contract is one in which one side promises to perform in exchange for the other side's actions
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!