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OverLord2011 [107]
3 years ago
12

On April 12, Hong Company agrees to accept a 60-day, 10%, $5,900 note from Indigo Company to extend the due date on an overdue a

ccount. What is the journal entry needed to record the transaction by Indigo Company
Business
1 answer:
frutty [35]3 years ago
5 0

Answer and Explanation:

The Journal entry is here below:-

Accounts Payable Dr, $5,900

           To Notes payable $5900

(Being the note payable is recorded)

we are debited the accounts payable as it decreased the liabilities and we credited the notes payable as it increased the liabilities in order to do the correct journalizing and posting

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Nonprofit agencies are frequently called voluntary service agencies because they use only volunteers to provide services.True /
rodikova [14]

Answer:

The answer is "False".

Explanation:

Nonprofits are taxation-exempt or charity because, they don't pay tax, on their organization's money they earn, that can work in social, scientific, educational, or research settings.

  • It also makes money, but sometimes they are distinguished, itself to for-profit businesses by the profits they make.
  • The cash is used to expand the organization, and promote the work further, that's why the answer to this question is false.
6 0
3 years ago
Which of the following is a benefit to corporate executives when a process is outsourced?
love history [14]

Answer:

<h2>In this case,the correct answer would be option b) given in the answer choices or More time to explore new revenue generation activities.</h2>

Explanation:

  • From an economic or business perspective, outsourcing of operational activities or conducts refer to assigning the business functions, activities, projects, assignments etc. to any third party or external agency with a view to enhance work productivity and minimize overall average operational costs or expenses.
  • The third party or the external entities involved in the outsourcing activities are typically not part of the parent or main company or are not commercially affiliated with the parent or main company.
  • One of the advantages of outsourcing to the company executives is to be able to assign some of the major and time consuming business activities to outsourced companies or entities and focus more on other mediums or sources of revenue generation for business. It might include introduction of new product or service lines, restructuring of the internal organizational settings or venturing new markets to capture higher consumer or client base. Hence, higher work or labor division through outsourcing activities can provide more time and opportunity for executives to focus more on other revenue generating endeavors.
5 0
3 years ago
Match each of the numbered descriptions with the term or phrase it best reflects. Indicate your answer by writing theletter for
Temka [501]

Please the remaining part of the question below :

1.Amount a business earns after paying all expenses and costs associated with its sales and revenues.

2.An examination of an organization’s accounting system and records that adds credibility to financial statements.

3.Principles that determine whether an action is right or wrong.

4.Accounting professionals who provide services to many clients.

5.An accounting area that includes planning future transactions to minimize taxes paid.

Answer:

1.Amount a business earns after paying all expenses and costs associated with its sales and revenues. - Net income (G)

2.An examination of an organization’s accounting system and records that adds credibility to financial statements. - Audit (A)

3.Principles that determine whether an action is right or wrong. - Ethics (C)

4.Accounting professionals who provide services to many clients.- Public accountants (F)

5.An accounting area that includes planning future transactions to minimize taxes paid- Tax accounting (D)

Explanation:

6 0
3 years ago
Palding hires an asian company to produce a specified volume of sports equipment that still carries spalding's name. this is an
nadezda [96]
<span>Palding hires an asian company to produce a specified volume of sports equipment that still carries spalding's name. this is an example of contract manufacturing. Contract manufacturing </span>occurs when a company hires a foreign company to produce a specified volume of the firm's product to specification. However, the final <span> product carries the domestic firm's name. </span>
3 0
3 years ago
Beth sells candles from her website. She can get a candle from her suppliers at a cost of $3 to her. The candles have been selli
statuscvo [17]

Answer:

$10.67

Explanation:

Data provided in the question:

Initial cost = $3

Initial selling cost = $5

Initial sales = 4000

with $1 increase in price she loses 300 sales per month

Now,

Let the increase in price which maximizes the profit be '$x'

Therefore,

Final selling price = $5 + x

Final sales = 4000 - 300x

Thus,

Revenue = Final selling price × Final sales

= ( 5 + x)( 4000 - 300x)

= 20,000 - 1500x + 4000x - 300x²

= 20,000 + 2500x - 300x²

Total Cost = Initial cost × Final sales

= 3(4000 - 300x )

= 12,000 - 900x

Now,

Profit = Total revenue - Total cost

or

P = [ 20,000 + 2500x - 300x² ] - [ 12,000 - 900x ]

or

P = 8,000 + 3400x - 300x²

for point of maxima \frac{dP}{dx}=0

Thus,

0 = 0 + 3400 - 300(2x)

or

0 = 3400 - 600x

or

600x = 3400

or

x = \frac{17}{3}

Hence,

The price will be = $5 + x = 5 + \frac{17}{3}

= $10.67

7 0
3 years ago
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