1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elden [556K]
3 years ago
11

On November 1, Year 1 Cove Company borrowed $7,000 cash from Shelter Company. The one-year note carried a 7% rate of interest.

Business
1 answer:
PSYCHO15rus [73]3 years ago
5 0

Answer:

Assets + 7,000

Liabilities +7,000

Net income no effect

Cash flow statement:

+7,000 from financing activities

Explanation:

The loan will not generate no expense as the note has not accrued interest yet.

Then, cash from financing activities will increase by 7,000 as the firm received cash

Finally, the blaance sheet will disclosure the increasein assets (cash) and the increasein liabilities (note payable)

You might be interested in
A fire destroyed some of Cholla, Inc.’s records. Information from the documents found related to inventory is listed below. Endi
sineoko [7]

Answer:

$860,400

Explanation:

Cholla, Inc.’s

Cost of goods sold = Beginning inventory + Purchases − Ending inventory

Purchases = Cost of Goods Sold − Beginning Inventory + Ending Inventory

Cost of Goods Sold $801,000

Less Beginning Inventory ($77,400 )

$723,600

Add Ending Inventory $ 136,800

Amount of inventory purchased $860,400

Therefore the amount of inventory that was purchased during the year was $860,400.

Mean while the consignment inventory is not owned by the company and is not as well considered in the Cost of Goods Sold equation.

3 0
3 years ago
On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On J
SashulF [63]

Answer:

1. The Ensor's stock measurement date is January 01, 2021

2. Compensation expense for the stock option is $50 million

3. Please see journal entry in the explanation below.

Explanation:

1. It was clearly indicated in the question that on January 1, 2021 , 32 million stock options were granted hence measurement date is ; 1st of January, 2021

2. The fair value per stock option is $6

Therefore, total compensation expenses = $6 × 25 million

= $150 million

Since the options are exerciseable between 01/01/2024 and 01/01/2026

The period for vesting will be 3 years from 01/01/2021 - 31/12/2023

Therefore, the compensation expense for the stock option in year 2021 = Total compensation expense/ Vesting period

= $150 million /3

= $50 million

3. Since 2.6 million(10%) were forfeited, 90% represent the remaining unforfeited. I. e (100%-10%)=90%

In 2022, which is the second year of the vesting period, compensation expense would be;

Compensation expense of 2022 = (Total compensation expense * 90% * the order of the period / Number of period - Compensation expense of

2021

= $150 million *90% *2/3 - $50 million

=$40 million.

In 2023,

Dr Cr

Compensation expense. $40 million

Paid in capital stock options. $40 million

4 0
3 years ago
PLS HELP ASAP WILL GIVE BRAINLIEST!!!
Lynna [10]
The answer is D because the monopoly is the hardest to get into.
8 0
3 years ago
Beans Coffee & Cocoa Company makes and sells a chocolate flavored coffee drink under the name "CoCoCafe." Darkroast Java, In
SSSSS [86.1K]

<u>Full question:</u>

Coffee & Cocoa Company makes and sells a chocolate-flavored coffee drink under the name "CoCoCafe." Darkroast Java, Inc., later markets a similar tasting drink under the name "KoKoKafe."

This is most likely:

a. copyright infringement.

b. patent infringement.

c. trademark infringement.

d. a theft of trade secrets.

<u>Answer:</u>

This is most likely:  trademark infringement.

<u>Explanation:</u>

Trademark infringement is described as the illegal practice of a trademark or service impression. This exercise can be in contact with goods or services and may commence to distraction, fraud, or a disagreement about the original company a commodity or service developed from.

Trademark proprietors can hunt proper action if they consider their marks are being transgressed. . If infringement of a trademark is fixed, a court procedure can stop a party from using the emblem, and the master may be granted financial relief.

3 0
3 years ago
Your company's human resource manager is away from the office on vacation, and you have four open positions to fill in your depa
DaniilM [7]

Answer:

An interview

Explanation:

  • Job interviewing is one of the most common methods companies use to recruit new candidates. The interview involves a conversation between prospective candidates and recruiting firm members, usually one candidate at a time.
  • However, there may be one or more members of the interview panel. Through the interview, the candidate's communication skills can be tested as there is an interaction between the interviewer and the interviewer
5 0
3 years ago
Other questions:
  • A method of allocating merchandise cost that assigns the most recent purchased costs to the ending inventory shown on the balanc
    6·1 answer
  • The technological advancement allowing for _____ has created a potential for inappropriate access and/or misuse of information.
    11·2 answers
  • Your firm offers a 10-year, zero coupon bond (i.e., coupon rate is 0%). The yield to maturity is 8.8 percent. What is the curren
    6·1 answer
  • Worthington Inc. is considering a project that has the following cash flow data. What is the project's payback period?
    10·1 answer
  • Carlos transfers property with a tax basis of $965 and a fair market value of $1,135 to a corporation in exchange for stock with
    14·1 answer
  • Which of the following statements is FALSE about opportunity​ cost? A. Opportunity cost exists only for goods with monetary valu
    7·1 answer
  • Problem solving importance to the future of workplace
    9·1 answer
  • Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $140 each. Direct materials cost $22 per
    12·1 answer
  • is it right to kick someone out just because they are not on the lease and or had been evicted in the past? my step-mom recently
    5·2 answers
  • How do competition and the introduction of novel businesses impact the transportation industry? (Select all that apply.)
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!