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drek231 [11]
3 years ago
11

On December 31, Year 1, Taylor, Inc. signed a binding agreement with a bank for the refinancing of an existing note payable sche

duled to mature in February, Year 2. The terms of the refinancing included extending the maturity date of the note by three years. On January 15, Year 2, the note was refinanced. How should Taylor report the note payable in its December 31, Year 1, balance sheet?
Business
1 answer:
Scrat [10]3 years ago
5 0

Answer

The note must be reported on the balance sheet as of December 31 for the total outstanding value, since the refinancing does not change the value to be paid only affects the terms and interests, also the financing will only be made in January of year 2

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Why do companies want employees who have good public-speaking skills
notsponge [240]
To have happy consumers and welcoming them so they can come back knowing that the company has really good customer service and which is a huge thing in owning a business. If you can communicate to your consumers then its pretty bad.
5 0
3 years ago
Read 2 more answers
IN the economic order quantity model, if carrying costs increase while all other costs remain unchanged, the number of orders pl
kotegsom [21]

Answer:

b. decrease

Explanation:

In the EOQ model, if carrying costs increase while all other costs remain unchanged, the number of orders placed would be expected to <u>decrease</u>.

Carrying cost is placed in denominator of the EOQ formula hence as we increase denominator the total quantity will fall. If the carrying cost is high, then we would place lesser order to reduce such costs.

Also, if carrying costs decrease while all other costs remain unchanged, the number of orders placed would be expected to decrease because there is already excess of inventory due to which the new orders have to be decreased to utilize the already pending inventory.

4 0
3 years ago
Easter Egg and Poultry Company has $1,710,000 in assets and $698,000 of debt. It reports net income of $196,000. a. What is the
notka56 [123]

Answer:

a) Firm’s return on assets = 11.46 %

b) Return on stockholders’ equity = 19.37%

c) Profit margin = 3.27%

Explanation:

a) Return on assets = \frac{Net Income}{Total Assets} X 100

= \frac{196,000}{1,710,000} X 100 = 11.46 percent

b) Return on stockholder's equity = \frac{Net income}{Equity} X 100

Equity =Total assets - Debt = $1,710,000 - $698,000 = $1,012,000

Return on equity = \frac{196,000}{1,012,000} X100 = 19.37 percent

c) Asset Turnover ratio = \frac{Net Sales}{Total Assets} = 3.5

then Net sales = 3.5 X Total Assets = = 3.5 X $1,710,000 = $5,985,000

Profit margin = \frac{Net profit}{Net sales} X 100 [tex]= \frac{196,000}{5,985,000} X 100 = 3.27 percent

a) Firm’s return on assets = 11.46 %

b) Return on stockholders’ equity = 19.37%

c) Profit margin = 3.27%

7 0
4 years ago
You are a contracting officer responsible for source selection for a negotiated competitive services acquisition. The estimated
AfilCa [17]

Question Completion with options:

a. Past performance information provided directly by the offeror should not be relied upon.

b. The past performance evaluation satisfies the responsibility determination required under FAR subpart 9.1.

c. Evaluations should take into account past performance information regarding predecessor companies.

d. Offerors with demonstrated past performance that is neither relevant nor recent must not be removed from further consideration for award.

Answer:

The statement that is true regarding the evaluation of the past performance is:

c. Evaluations should take into account past performance information regarding predecessor companies.

Explanation:

It has been established that past performance is the best indicator of future performance.  Past performance can predict future performance, behavior, and success.  Organizations that achieve some good performance in the past build the required confidence, which will help them to forge ahead in the present and future.  This is why in selecting companies for a negotiated competitive services acquisition, even the past performance of predecessor companies should be reviewed to get a better handle on the company's ability to deliver on the projects.

6 0
3 years ago
​Andre, Beau, and Caroline share profits and losses of their partnership in a ​:​: ratio respectively. If the net income is ​, c
Brums [2.3K]

Answer: $545,454.55

Explanation:

Caroline's share of the profit would be her sharing ratio over the total ratio time the net income.

= (6 / ( 6 + 2 + 3)) * 1,000,000

= 6/11 * 1,000,000

= $545,454.545

= $545,454.55

7 0
4 years ago
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