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3 years ago

Cory issued a note to his creditor in exchange for an account. Cory records the transaction by debiting

2 answers:

Taya2010 [7]3 years ago

3 0

The answer is D. a debit to accounts payable and a credit to notes payable. This is because Cory issued a note to his creditor as a promise that he will pay the creditor. With this, he will be gaining a Notes Payable, or a promissory note stating that he will pay, and will be losing an Accounts Payable. So according to the rules of accounting, if a liability is debited, then it will be lessened from the books of the business. If a liability is credited, however, then it will be added to the records of the business.

LiRa [457]3 years ago

3 0

The correct answer is letter C. Accounts Payable and Crediting Notes Payable.

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2 years ago

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liraira [26]

Answer:

A. A place where investors can buy and sell different investments.

Explanation:

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3 years ago

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True or false: No gain or loss is reported when treasury stock is reissued because GAAP does not consider transactions between a

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Answer:

true

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2 years ago

A fully discrete whole life insurance policy paying $50,000 at the end of the year of death is issued to an individual age 36. T

DerKrebs [107]

Answer:

Our P = 17540 $

Explanation:

Amount of Insurance Policy = 50000$

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Net Premium for the policy = 900$

Annual Interest Rate = 6%

Net Premium at the age of 46 = ????

900 * 10 years = 9000$

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At the age of 46, Net premium reserved amount also will be recovered.

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3 years ago

You are comparing three investments, all of which pay $100 a month and have an interest rate of 8 percent. One is ordinary annui

Ivan

Answer:

c. The present value of the perpetuity has to be higher than the present value of either the ordinary annuity or the annuity due

Explanation:

Considering the following statements:

the ordinary perpetuity, the payments must occur on the first day of each monthly period. Hence this statement is incorrect.
The ordinary annuity would be more valuable than the annuity due if both had a life of 10 years. Incorrect.
In case of perpetuity the times is not limited, hence would get the higher return.

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3 years ago