The following makes notes receivable :
- Notes receivable are formal written contracts.
- Notes receivable have a stronger legal claim.
- Notes receivable are interest bearing.
<h3>What are Notes Receivable?</h3>
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement. Promissory notes are a written promise to pay cash to another party on or before a specified future date.
If the note receivable is due within a year, then it is treated as a current asset on the balance sheet. If it is not due until a date that is more than one year in the future, then it is treated as a non-current asset on the balance sheet.
Often, a business will allow customers to convert their overdue accounts (the business’ accounts receivable) into notes receivable. By doing so, the debtor typically benefits by having more time to pay.
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Answer:
investment in FedEx = 4410000
Unrealized holding gain = 420000
Explanation:
given data
FedEx common stock = 42,000 shares
market value = $95
market value = $105
to find out
what amount will it be reported in the 2019 balance sheet
solution
we know that It is coming under available for sale security since the shares hold is less than majority of outstanding shares
and here
investment in FedEx =42,000 × 105
investment in FedEx = 4410000
and
Unrealized holding gain is = ( 105 - 95 ) × 42000
Unrealized holding gain = 420000
1) A student loan is an example of an unsecured debt. A secured debt is when a person has something as collateral like their automobile.
2) Unsecured debts usually have higher interest rates when compared to something with a secured debt.
Answer:
C. Predictive value.
Explanation:
Relevant information is able to make a difference in user decisions. To do so, it must have predictive value, confirmatory value, or both. Financial information has predictive value if it can be used as an input in a predictive process.
Answer:
Controllable variance
Explanation:
The controllable variance is the combination of the variable overhead, fixed overhead spending variance and together with this, the variable overhead efficiency variance is also involved
Hence, as per the given situation, the controllable variance is to be considered
Therefore the above represents the answer
