Answer:
The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is
Debit Credit
Cash $100,000
Notes Payable $100,000
The right answer is c
Explanation:
According to the given data the interest will not be adjusted at the time of loan proceed and issuance of note
Therefore, The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is the following:
Debit Credit
Cash $100,000
Notes Payable $100,000
To record the borrowing
<span>Speech-language pathologists must be able to listen to and communicate with their patient in order to determine the right course of treatment.
Answer: </span>
<span> A Speech-language pathologists must be able to listen to and communicate with their patient in order to determine the right course of treatment.</span>
Answer:
Explanation:
The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:
Cash flow from Operating activities - Indirect method
Net income $25,400
Adjustment made:
Add: Decrease in accounts receivable $5,000 ($20,000 - $15,000)
Less: Decrease in accounts payable -$450 ($8,750 - $9,200)
Total of Adjustments $4,550
Net Cash flow from Operating activities $29,950
Answer: Party B
Explanation:
Even though verbal agreements are enforceable by law, written agreements take precedent because they are more explicit than verbal agreements.
The written agreement will therefore be followed in this case and according to this agreement, A will be punished for the proposed action.
If A had tangible proof that a subsequent agreement was reached that would void them of said punishment, they should present it. If they do not, B would prevail.
Answer:
gain from the debt restructuring = $160,000
Explanation:
given data
principal = $600,000
rate = 10%
settlement = $500,000
to find out
gain from the debt restructuring in income statement
solution
we get here owed a total that is
owed a total = Principal + Unpaid interest ...............1
put here value
owed a total = $600,000 + $60,000
owed a total = $660,000
and
gain from the debt restructuring is here as
gain from the debt restructuring = owed a total - settled .......2
gain from the debt restructuring = $660,000 - $500,000
gain from the debt restructuring = $160,000
