Answer:
The note payable will be presented in the financial statement at the face amount minus a discount calculated at the imputed interest rate.
Explanation:
The imputed rate is the rate at which the present value of the face amount of the note will be equal to the amount at which it is originally recorded.
Notes issued or received in exchange for goods or services that do not bear interest at a fair rate are reported at an amount equal to the fair value of the note, the fair value of the goods or services, or the present value of the note using a fair interest rate, whichever is more readily determinable.
The difference between the recorded amount and the face value is considered a discount and the applicable interest rate regardless of which method is used to value the note.
Because of this, the note is reported at its face amount minus a discount calculated at the imputed interest rate.
Answer: Negligence of duties
Explanation:
As a board member it's one of his primary duty to keep abreast of the firm performance. Not been aware for a year on the excuse of not been informed and not seeking to find out personally shows a negligence of duties.
Answer:
$25,000
Explanation:
The computation of the adjusted balance of retained earning is shown below:
Since the depreciation expense is overstated on 2019 which decreased the earnings so it would be added
Since the depreciation expense is understated on 2020 which increased the earnings so it would be deducted
And, the ending inventory for 2020 is understated which decreased the earning so it would be added
Therefore, the adjusted balance is
= $24,000 - $4,000 + $5,000
= $25,000
Answer:
Cultural gap
Explanation:
The merger of Iota Inc. and Axiom Inc. will be difficult due to the presence of a culture gap. An organization's culture may not always be in alignment with the needs of the external environment. The values and ways of doing things may reflect what worked in the past. The difference between desired and actual values and behaviors is called the culture gap. Culture gaps can be immense, particularly in the case of mergers.
Hope this works!!!!!
The answer to this question is Transformational
leaders.
<span>Transformational leaders are leaders who inspire
their subordinates / followers by being a role model in order for the members
or followers to enhance their performance. Transformational leaders increase
the morale of the members by creating a vision for them to be guided and
inspire the members to do their best and be motivated always.</span>
