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irina [24]
3 years ago
13

Coltrane Company has a $5,000 note payable that is paid in $1,000 installments over five years. How would the portion that must

be paid within the next year be reported on the balance sheet?
Business
1 answer:
Natalka [10]3 years ago
4 0

Answer:

It will be reported as current liability in the balance sheet.

Explanation:

Liability is a present obligation of an entity which its settlement will result in outflow of economic resources. There are two types of liability:

Current and Non current.

Current liabilities are liabilities that an entity has an obligation to settle within an accounting period, usually one year while non-current liabilities are liabilities of long term nature that the settlement is longer than one accounting period.

In the case of Coltrane Company, the next installment of the note payable will be reported under current liabilities because its settlement falls within the one accounting period, i.e. next year. So $1,000 will be reported under current liabilities while the remaining ($5,000-$1,000) $4,000 will be reported under non current liabilities because its settlement does not fall within the next accounting period.

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Inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error? a. n
vlabodo [156]

Answer:

The answer is stockholders' equity is overstated

Explanation:

When inventories are overstated it reduces the cost of sales because the excess inventory in accounting records means the ending inventory will be higher and cost of sales will be lower.

When ending inventory is overstated, total assets and retained earnings will be overstated. And when retained earnings is overstated, stockholders' equity is also overstated because retained earnings is a line item under stockholders' equity.

7 0
3 years ago
Bitstar global inc. is a soft-drink manufacturing company. kelly, the production manager, works with a human resource consultant
Ludmilka [50]
<span>machine. She uses a simulative approach to increase the effectiveness and efficiency. If Kelly is at the output stage of the process, then she is identifying the inputs utilized in the process for measuring the productivity.</span>
6 0
3 years ago
A bank has $8,000 in deposits and $6,000 in loans. It has loaned out all it can given the reserve requirement. It follows that t
Wittaler [7]

Answer:

c. 25 percent.

Explanation:

The computation of the reserve requirement percentage is shown below:

Given that

Deposits made = $8,000

Loans = $6,000

So the required reserve is

= deposits made - loans

= $8,000 - $6,000

= $2,000

Now the required reserve is

= $2,000 ÷ $8,000

= 25%

Hence, the correct option is c. 25 percent

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

7 0
3 years ago
Suppose that borrowing is restricted so that the zero-beta version of the CAPM holds. The expected return on the market portfoli
raketka [301]

Answer:

10.4%

Explanation:

The computation of expected return on a portfolio is shown below:-

Expected return = Risk Free return + 5%Beta ( Market Return - Risk Free return)

= 5% + 0.60 × (17% - 8%)

= 5% + 5.4%

= 10.4%

Therefore for computing the expected return on a portfolio with a beta of .6 we simply applied the above formula.

The market return less risk free return is known as market risk premium

3 0
3 years ago
One disadvantage of renting a home is , which directly affect what the renters can and can’t do in and around the house. On the
slava [35]

disadvantage is that the land lord can raise the rent easily while you can not do anything about it.Lower insurance, When renting a home, we would most likely restricted to make any modification that we like to the home. (such as we are not allowed to change the color of the paint)

On the insurance front, renting a home has cheaper insurance since we are only paying for the protection of the personal goods that we keep on the home. We do not have to pay for property tax since the home is not belong to us.

But a benefit is that there is no mortgage.

7 0
3 years ago
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