All categories

3 years ago

On the budgeted balance sheet,the number for notes payable will come from the ________.

Business

1 answer:

gogolik [260]3 years ago

7 0

Answer:

B) schedule of cash receipts

Explanation:

Personally, I do not consider this option to be 100% correct since it is incomplete. The correct answer is: debt service budget.

When you are preparing a budgeted balance sheet, you might get some information about receiving cash by issuing notes payables, but notes payables can include other transactions besides cash loans. E.g. You might finance the purchase of equipment by issuing a promissory note. You could also refinance outstanding credits from suppliers with notes payables. And many others, and none is related to cash receipts.

You might be interested in

At the end of the year, a company reports a balance in its Allowance for Uncollectible Accounts of $1,700 (debit) before any yea

iren2701 [21]

Answer:

Bad debt expense $11,320 ($283,000 × 4%)

To Allowance for doubtful debts $11,320

(being the bad debt expense is recorded)

Explanation:

The journal entry is shown below:

Bad debt expense $11,320 ($283,000 × 4%)

To Allowance for doubtful debts $11,320

(being the bad debt expense is recorded)

For recording this given transaction, we debited the bad debt expense as it increases the expenses account and at the same time it decreases the account receivable so the allowance would be credited so that the proper posting could be done

7 0

3 years ago

"We chose this plan because it would benefit the majority of you, and harm the fewest" would be an example of using this perspec

Alborosie

Answer:

utilitarian perspective

Explanation:

In simple words, utilitarian approach refers to a method for making decisions in case of ethical dilemmas. Under this approach, the decision making authority makes judgement by focusing on the greater good, that is, making judgement that benefits the most of the individuals and harm the least.

This theory states that every party's interest should be taken into consideration equally as every related individual to the judgement is capable of suffering . However this approach is used when it is not possible to benefit all the stakeholders equally.

6 0

3 years ago

Many hiring managers in information security prefer to recruit a security professional who already has proven hr skills and prof

Paha777 [63]

<span>Information Security Specialists are hard to come by especially the ones with the proven experience and track record. Considering our times where online security is a major threat for governments and organisations, having an experienced individual who can act rather than some one who is inexperienced is of more value, hence there being a huge demand for them.</span>

8 0

3 years ago

The following are the income statements of the Hancock Company for two consecutive years. Increases in which expenses contribute

dsp73

Answer:

Increase in Administrative Expense of $3,300 additional led to loss in the year 2016.

Explanation:

As for the provided details:

Particulars 2016 2015

Revenue $30,000 $20,000

Cost of goods sold $17,800 $12,000

Gross margin $12,200 $8,000

Operating Exp

Selling Exp $4,800 $4,600

Admin. Exp $7,800 $3,000

Total operating exp $12,600 $7,600

Net Income ($400) $400

As we see the major difference which is irrelevant is in administration expense, that is because difference in cost of goods sold is somewhere justified as, when it calculated as a percentage of sale that is $12,000/$20,000 = 60%

Thus for year 2016 also the expense shall be $30,000 $\times$ 60% = $18,000

Thus, it is justified but for administrative expense $3,000/$20,000 = 15%

For 2016 = $30,000 $\times$ 15% = $4,500

But since it is very much exaggerated, by $7,800 - $4,500 = $3,300 this is the main reason of loss.

5 0

3 years ago

Percentage returns:

weeeeeb [17]

Answer:

I. easily convey the return for each dollar invested.

Explanation:

Percentage of returns is used to explain the return on an investment relative to the amount invested.

It can also be called a return on investment (ROI). Return on investements is always expressed as percentages or ration and is usually calculated with formula

ROI = <u> Current Value of Investment−Cost of Investment</u> × 100%

Cost of Investment

Cheers.

7 0

3 years ago