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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.  

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The demand for a product is likely to be more​ elastic:
vivado [14]

The demand for a product is likely to be more elastic if there is a presence of more time passes which is letter c. As a demand of a product will likely be affected with the price changes over the period of time. It is because a demand elasticity occurs when there is a presence of change in regards to the demand for goods, such examples are the income of the consumer.

6 0
3 years ago
You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually
Naya [18.7K]

Explanation:

In the scenario described above, it can be identified that the behavioral characteristic of the manager is that he is an aggressive person.

This type of behavior has as main characteristics the expression of your ideas, needs and feelings to the detriment of those of other people, this can be seen in the question in the excerpt that says that the manager made an important decision for the business without consulting his superiors because you believe they feel the same way about the economy as you do.

Although this aggressive behavior can sometimes be expressive, it can also lead to hostility.

6 0
3 years ago
On April 30, Gomez Services had an Accounts Receivable balance of $31,200. During the month of May, total credits to Accounts Re
Kazeer [188]

Answer:

What was the amount of credit sales during May? $ 60200

Explanation:

                                  April Deb         Cre           May

Account receivable 31200          66400 25000

                                31200 60200 66400 25000

Credit 66400 +

may-31 25000 +

apri-30 -31200 -

       = 60200  

5 0
3 years ago
Today, you have two coins each of which is valued at $100. One coin is expected to appreciate by 5.2 percent annually while the
ziro4ka [17]

Answer:

=$337.43

Explanation:

The value of each of the coins after 50 years is the future value after 50 years at their respective interest rate.

The formula for  future value is FV = PV × (1+r)n

For the first coin at 5.2 percent,

Fv = 100 x ( 1 + 5.2/100 ) 50

Fv =100 x (1+ 0.052) 50

Fv = 100 x 12. 61208795

Fv = $1,261. 21

For the second coin at 5.7 percent,

Fv = 100 x (1 + 5.7 /100)50

Fv =100 x (1 + 0.057 )50

Fv = 100 x 15.98

Fv = 1, 598. 64

the difference in value will be

=$1598.64 - $1,261.21

=$337.43

6 0
4 years ago
The following information pertains to Torque Corp.'s outstanding stock for 2021: Common stock, $1 par value Shares outstanding,
azamat

Answer:

135,000 shares

Explanation:

The stock split is the re-denomination of the shares where the number of shares increases without a corresponding increase in shareholders' equity.For instance assigning two shares for each share had earlier with two new shares priced at the price of previous one share,however in calculating the number of shares applicable to basic earnings stock split is treated retrospectively,as if it has always been part of the company's shares

Opening number of shares                                         60,000

add increase due to stock split(2*60,000)-60,000   60,000

new shares half-way through the year 30,000*6/12   15,000

Weighted average number of shares                           135,000          

7 0
3 years ago
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