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Oksi-84 [34.3K]
3 years ago
6

On December 31, 2019, Irey Co. has $3,000,000 of short-term notes payable due on February 14, 2020. On February 8, 2020, Irey bo

rrowed $1,200,000 (long-term loan) from County Bank and used $1,000,000 additional cash to liquidate $2,200,000 of the short-term notes payable. The amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2019 balance sheet which is issued on March 5, 2020 is
Business
1 answer:
svet-max [94.6K]3 years ago
3 0

Answer:

$1,800,000

Explanation:

Given short term notes payable = $3,000,000

Total amount used to liquidate short term notes = $2,200,000

Balance = $3,000,000 - $2,200,000 = $800,000

The additional $1,200,000 which is borrowed from Country Bank will not increase the short term notes payable because it's a long term credit

The additional $1,000,000 cash used will now be added to the balance amount

Amount to be reported as current liabilities = $1,000,000 + $800,000

= $1,800,000

Therefore the amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2019 balance sheet which is issued on March 5, 2020 is $1,800,000

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Make a list of these important facts.

Create an outline that will organize your facts in a logical way.

Write the essay based on the outline you've created.

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Kelly’s Jewelry has the following transactions during the year: total jewelry sales = $640,000; sales discounts = $14,500; sales
pochemuha

Answer:

$559,020

Explanation:

The computation of net sales is shown below:-

Total sales = $640,000

Sales discount = $14,500 + $1,450

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3 years ago
what is a patent registration, design registration, NDA( non disclosure agreement, and a trademark registration
nata0808 [166]

Answer:

find all answers in the explanation below

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Patent Registration: This can be defined as the registration of the protection an invention to ensure that no one can make a copy of the said invention elsewhere. A patent registration is usually done after obtaining a patent right. A patent is the protection of an invention or idea to ensure that it is not produced or sold, etc by another individual. Patents are usually issued by the Patent and Trademark Office

Design Registration: This is the registration of a design such that it cannot be used elsewhere by another person. The registration of a design helps to protect the external look of an invention or product to ensure it is unusable anywhere else.

Non disclosure agreement: This is a legal contract that exists between two parties in which confidential messages, information, etc exchanged between them cannot be revealed to a third party. A non disclosure agreement is also called a confidential agreement or secrecy agreement or confidential disclosure agreement, etc among other names.

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During the process of succession, A. only consumers can enter a developing ecosystem. B. producers typically enter a developing
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Answer: B. producers typically enter a developing ecosystem before consumers.

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During the process of Succession,producers typically enter a developing ecosystem before consumers.

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