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Sladkaya [172]
3 years ago
9

Sheffield borrowed $701000 on October 1, 2017 and is required to pay $721000 on March 1, 2018. What amount is the note payable r

ecorded at on October 1, 2017 and how much interest is recognized from October 1 to December 31, 2017?
Business
1 answer:
Georgia [21]3 years ago
5 0

Answer:

On October 01, 2017

The amount actually borrowed that is $ 701,000 will be recorded as liability/note payable on october 01, 2017. The following accounting entry will be passed

Debit Cash Asset           $ 701,000

Credit Note payable       $ 701,000

Interest recognized from October 1 to December 31, 2017

The premium amount paid on redemption will be recorded as interest over the period of time. The interest amount is

Interest = 721,000 -701,000 = $ 20,000

So this above calculated expense will be recognized as an expense over loan period.

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A false statement of a material fact regarding ownership of business property that results in a loss of sales is referred to as
Vedmedyk [2.9K]

Answer: Slander of title

Explanation:

Slander of title is referred to as incorrect statement about a person or business property, products and so on. This form of public statement might be written or oral which result in harm or financial loss to the person’s property title. For example: a claim of ownership of an artwork of another person or company. Thus, it is an attack on the reputation of a business property by another party.

8 0
3 years ago
Which of these statements is false? A company comparison should not be made with industry averages if the company does not clear
ValentinkaMS [17]

Answer:

A company comparison should not be made with industry averages if the company does not clearly fit into any one industry.

Explanation:

In Business management, it is important to note that many companies will not clearly fit into any one industry.

Hence, when using industry averages, it is often necessary to use an industry that the firm best fits rather than randomly picking up any industry. Additionally, the analysis of an organization's financial statements would be more meaningful if the results are compared with industry averages and with results of competitors.

Any financial service sought after, should use its best judgment by analyzing and identifying which industry the firm best fits.

5 0
3 years ago
If you fail to submit the FAFSA...
Georgia [21]

Answer:

The correct answer is letter "B": You will not have access to Federal student aid, such as scholarships, grants, and loans.

Explanation:

Application to the Free Application for Federal Student Aid (FAFSA) is not mandatory. However, students who do not submit an application <em>will not be provided any financial aid</em> in their studies which implies paying several thousands of dollars more than if approved to the grant.

3 0
3 years ago
In statistical discrimination,
MakcuM [25]

Answer:D. Workers are given preferential treatment if they help fulfill a quota for particular type of characteristics.

Explanation:

Statiscal discrimenation is a preferential treatment of workers based on racial or gender inequality.

e.g restrictions of employment to singles because they have less responsibilities compared to the married.

5 0
3 years ago
Global Industries has just issued new appraisal forms to all managers. The company has requested that each subordinate be rated
Cerrena [4.2K]

Answer: judgemental appraisal method.

Explanation: judgemental appraisal method is a form of performance appraisal—a systematic, general and periodic process that assesses an job performance and productivity of employees in comparison to certain pre-established criteria and organizational objectives. The judgmental appraisal method is applied when assessing individual employee's job performance and productivity in areas that are difficult to measure. Vast majority of information gathered and delivered using this technique is subjective though there may be some parts that are objective.

By requesting that each subordinate be rated (performance evaluation) according to how closely the appraisal (pre-determined criteria) describes the employee, the company new form is an example of a judgmental appraisal method.

5 0
3 years ago
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