Answer:
First Select Investors
Explanation:
With timely notice to the proper parties, Global Bank may collect payment on the note from First Select Investors.
Although Charlton is the maker of the $200,000 promissory note payable, and was directly issued to Development & Sales Corporation, the party that issued it to Global Bank is First Select Investors.
Hence, Global Bank has direct link to First Select Investors and will notify the later about payment of their account receivable.
Answer:
The answer is D. Inventory account.
Explanation:
Perpetual inventory method is very useful as it is updated daily and gives a real-time insight into the stocks unlike in the periodic inventory system where you calculate the stock at the end of a certain period.
Answer:
1.- Without Retrospective effect
2.- No as it comes from a change in estimations not an accounting error.
3.- yes. It will give a full explanation about the reasons to extend the useful life.
4.- Depreciation expense for 2021: 60,000
Explanation:
1.- The change in the useful life does not represent an accounting error. It comes from the estimation process.
800,000 - 160,000 x 2 = 480,000 book value at beginning 2021
480,000 / 8 new useful life = 60,000 depreciation per year.
Answer:
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A decrease in the inventory account during the year should be reported on the statement of cash flows as in financing activities as a use of funds.
What is in a cash flow statement?
On the cash flow statement, the entire amount of cash and cash equivalents that enter and exit a business are displayed. The CFS focuses on a company's ability to manage its cash, particularly how successfully it produces cash flow. The income statement and balance sheet both receive information from this financial statement.
What is financing activities in cash flow statement?
The cash flow statement's financing activity describes a company's capacity to raise capital and return it to investors via capital markets. The issuance and sale of additional shares of stock, as well as the growth, addition, and modification of existing debt, are also included in these acts. This list also includes dividend payments made in cash.
Learn more about cash flow statement: brainly.com/question/15278261
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