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Serggg [28]
3 years ago
8

A customer pays a purchase price of $1,375 for a bond. This purchase price could also be referred to as​

Business
1 answer:
blsea [12.9K]3 years ago
4 0
Selling Price is the answer.
Thank You!
Pls mark brainliest
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During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of
iren2701 [21]

Answer:

A. Increase liabilities (Accounts payable) by $337.8 million

Explanation:

The journal​ entry will be: Inventory (Credit - Increased) 337,860,000 and Accounts payable (Debit - Increased) 337,860,000.

The company must recognize the increase in the Inventory and the medium of payment (Accounts payable).

B is false because this operationn can also be a decrease in cash, but the amount in the operation is too high for this payment medium.

C is false because, the inventory is not sold, and COSG will be increased when the goods are sold.

D is also false because the inventory is increasing, not decreasing.

6 0
2 years ago
Seller Dayne was made aware by the trustee that the lender was wanting to proceed with foreclosure on his property. What type of
elena55 [62]

Answer:

Promissory agreement and Deed of trust.

Explanation:

In this scenario, Seller Dayne was made aware by the trustee that the lender was wanting to proceed with foreclosure on his property. The type of financial agreement that Seller Dayne have with this lender is a Promissory agreement and Deed of trust.

A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.

On the other hand, a deed of trust can be defined as a legal document used by a party (borrower) to pledge his or her property to another party (lender) as guarantee or collateral for the repayment of a loan. The deed of trust is typically made up of three (3) parties; the lender, borrower and a trustee.

Additionally, a foreclosure on a property refers to a legal procedure whereby the property being pledged by a borrower for a debt is sold to pay off the debt as a result of defaulting in payments or terms with respect to a loan.

6 0
2 years ago
On August 1, Steffen Computers, Inc. purchased thirty computer chips on account from a company located in Taiwan for 520,000 Tai
Vsevolod [243]

Answer:

(C) debit to Foreign-Currency Transaction Loss-$1040

Explanation:

Foreign currency related Financial assets and financial liabilities are usually revalued with any difference as a result of the exchange rates posted as a gain or loss in the income statement.

On transaction date, cost of assets

= 520000 * $0.034

On payment date, the amount paid

= 520000 * $0.036

The amount paid is higher than the liability recorded before hence the difference is recognized as a loss on foreign exchange.

= 520000 * $0.036 - 520000 * $0.034

= $1040

4 0
3 years ago
Our company has an account receivable for $12,500 that we have now deemed uncollectible. We use the direct write-off method. Whi
ryzh [129]

Answer: a. Accounts Receivable

Explanation:

The Direct Write-off method is usually used by businesses where Uncollectible Receivables are not common. This way when it does occur, they simply debit the Bad Debts accounts and credit the Accounts Receivables to show the event.

This method of Accounting violates the Matching Principle under the Accrual basis because it usually does not recognize bad debts in the same period that the inventory was sold. It only records bad debts when they are declared which could be periods afterwards.

3 0
3 years ago
Parul is a manager who is preparing to send a memo to members of her team. What will best help her evaluate the memo before she
Oxana [17]

The Fair test is the best tool to help her evaluate the memo before she sends it.

<h3>What is FAIR test?</h3>

The term "FAIR" test entails Facts, Access, Impacts and Respect.

The FAIR test will help the user to:

  • ensure that the communication is fact-based
  • sender's motives is well channeled
  • reasoning are granted access
  • how well respect is shown to the receivers.

In conclusion, the Fair test is the best tool to help her evaluate the memo before she sends it.

Read more about FAIR test

<em>brainly.com/question/6791607</em>

6 0
2 years ago
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