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svetoff [14.1K]
3 years ago
6

The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

Business
1 answer:
Reil [10]3 years ago
8 0

Answer:

20Y3

Nov. 21 :

Debit Notes receivable $66,000

Credit Accounts receivable $66,000

<em>(To recognize notes receivable iro past due account)</em>

Dec. 31:

Debit Interest revenue $161.33

Credit Interest receivable $161.33

<em>(To record accrued interest on notes receivable)</em>

Jan. 20:

Debit Cash $66,880

Credit Notes receivable $66,000

Credit Interest receivable $880

<em>(To record payment of note and interest on Nov. 21 notes)</em>

Explanation:

Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest revenue on the notes is calculated as: Principal x Interest Rate x Time

In this case, the total interest expense is $66,000 x 8%/12 x 2 months = $880.

Total interest expense to the Company as at December 31 is therefore $880 / 60 days x 11 days = $161.33.

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Parker &amp; Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company
vaieri [72.5K]

Answer:

the proper cash flow amount is $11,060,784

Explanation:

The computation of the proper cash flow amount is shown below:

= land value + plant value + grading value

= $3,650,288 + 6,880,840 + $529,656

= $11,060,784

Hence, the proper cash flow amount is $11,060,784

So the same should be considered and relevant

7 0
3 years ago
Which of the following is considered a constructive delivery of a gift?
Hoochie [10]

Answer:

A) giving the key to a safe-deposit box where the gift is kept

Explanation:

  • A Constructive delivery possession is that acquisition when here a symbolic transfer of property. The constructive distribution of the possession is basically a right that the property is not actually managed
  • But the donor has done something to convey the possession, but the property is of such a nature that physical possession is then not possible, the creative possession of the property is sufficient to carry out the act of gift.
7 0
3 years ago
AN The Mixing Department manager of Malone Company is able to control
slamgirl [31]

Responsibility report for the financial period of the overhead costs incurred will have a negative shortfall and a difference of $4125 for the controllable costs.

<h3>What are overhead costs?</h3>

Overhead costs are such costs which are continuously in an organization while operating in the regular course of business. The overhead costs are estimated before they are actually incurred for efficiency of cost allocation.

The responsibility report for the overhead costs incurred by Malone Company for the given period are attached with an image for better reference.

Hence, it can be stated that the controllable costs' responsibility report shows as overhead costs of negative difference of $4125.

Learn more about overhead costs here:

brainly.com/question/14811739

#SPJ1

4 0
2 years ago
As explained in your textbook, the three main parts of a speech are called the
lesantik [10]

Answer:

The correct answer is B. The three main parts of a speech are the introduction, the body, and the conclusion.

Explanation:

The speech is a succession of words, expressed orally, that serve to express what we want or want to say.

Its main function has been from its origins to communicate or expose, but with the main objective of persuading its audience.

The speech is composed of three parts: introduction, body and conclusion:

-The introduction is one of the most important parts of the discourse since in this it is exposed the subject that will be treated.

Its function is to mark that the speech begins, attract the attention of the receiver, dissipate animosities, gain sympathy, set the interest of the recipient and establish the theme, thesis or objective.

-The body is the longest part since the whole theme is exposed in it: doubts and everything necessary to expose a considered justification of the idea are taken out.

-The conclusion is a strategic point, since it makes a small reflection about all of the above. The end must constitute the compendium of what has been said.

7 0
3 years ago
E3-18 Comparing cash and accrual basis accounting and applying the revenue recognition principle Momentous Occasions is a photog
dusya [7]

Answer:

Momentous Occasions

a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue.  This means that the recognition occurred on a separate date from when the cash was received.

b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received.  This means that the recognition occurred on a separate date from when the cash was received.

Explanation:

Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.

4 0
4 years ago
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