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Stella [2.4K]
3 years ago
12

Suppose a customer is unable to pay its account on time, so the company accepts a six-month interest-bearing note receivable to

replace the customer's account receivable. What effect will accepting the note receivable have on the company's financial statements at the time of acceptance?
A) Total assets decrease.

B) No change in total assets.

C) Total revenues increase.

D) Total assets increase.
Business
1 answer:
BartSMP [9]3 years ago
6 0

Answer:

B) No change in total assets.

Explanation:

Since it is given that the company accepts a six-month note receivable so that it replaces the account receivable of the customer. Due to which there is an increase in note receivable and a decrease in account receivable.  

Since the increase and the decrease is taking place in the assets that reflects there is no change in overall total assets

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this is an example of semantic memory

<h3>What is semantic memory?</h3>

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A firm pursuing a strategy based on customization and variety will tend to structure and manage its supply chain to accommodate
Neko [114]

Answer:

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3 years ago
Octavia has received an email from a customer asking her a question about a product unfortunately Octavia doesn't know the answe
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Farah Snack Co has earnings after taxes of $128, 750. Interest expense for the year was $20,000: preferred dividends paid were $
Leto [7]

Answer:

A. $0.90

Explanation:

Earning per share = (Net Income - dividends on preferred stocks)/average outstanding common shares

Particulars                                                               Amount

Earning After Tax                                                       128750

Taxes                                                                       15000

Earning before Tax & Interest Expense               143750

Interest Expense                                                      (20000)

Earning after Interest, but before Tax                       123750

Taxes                                                                       (15000)

Earning after Taxes                                               108750

Preferred Dividends                                               (18750)

Earning available for common stock holders       90000

common stock outstanding                                      100000

Earning per share                                                         0.9

Therefore, The outstanding Earnings per share on the common stock was $0.90

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Frictional unemployment is the result of voluntary employment transitions within an economy.
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