Answer: Balloon Loan
A balloon loan is a type of loan where the final payment is usually much larger than the payment preceding it.
In a balloon loan, the entire loan amount is given to the borrower as soon as the loan is approved and the contract is signed.
The interest falls due and is paid during the life of the loan.
The principal however, is paid as a balloon payment on the final day of the life of the loan.
Answer:
The answer is D. owner's equity, debit balance
Explanation:
Drawing is the money or goods taken out from business by its owner. This act is usually common in partnership or sole proprietorship.
A drawing is not an expense, rather it is a reduction in owner's equity.
To credit owner's equity means to increase its equity and to debit owner's equity means to decrease or reduce its equity.
Since, drawing is a reduction in owner's equity, we debit owner's equity making option D. the correct answer.
Option A and B are wrong because drawings are not classified as an expense.
Option C is also wrong because a drawing is never a liability.
Answer:
. when an organized body of workers withholds its labor to force the employer to comply with its demands.
Explanation:
Amount will be recognized as net accounts receivable on the balance sheet as of November 30-- $2730
Explanation:
First of all, the order received from Tinley High School has not been delivered by the end of November ,hence the value of the order is irrelevant for the purpose of calculating net accounts receivable at the end of November.
However, out of the goods of $3080 sold to Palos Middle School,$350 worth has been returned as defective,leaving a balance of $2730 ($3080-$350).
For Palos to be entitled to the discount of 2% they should have made payment by 24th November,which never happened,as a result the accounts receivable stay at $2730.
What Is Net Receivables?
Net receivables are the total money owed to a company by its customers minus the money owed that will likely never be paid. Net receivables are often expressed as a percentage, and a higher percentage indicates a business has a greater ability to collect from its customers.
How do you calculate net accounts receivable?
You calculate net receivables by subtracting allowance for doubtful accounts from accounts receivable (A/R) on the balance sheet. The formula is A/R – allowance = net receivables.
Learn more about balance sheet :
brainly.com/question/910379
#SPJ4
Answer:
D
Explanation:
option D is correct
If no legal, regulatory, contractual, competitive, economic, or other factors limit the life of an intangible asset, the asset's assigned value is allocated to the expense Indefinitely (no amortization= depreciation of intangible assets like patent rights, copy rights,etc.) with an annual impairment review until its life becomes finite.
