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Illusion [34]
3 years ago
7

The maturity date of a note receivable: Multiple Choice

Business
1 answer:
zhannawk [14.2K]3 years ago
8 0

Answer:

a) Is the day the note is due to be repaid.

Explanation:

A note receivable is a written commitment to receive an amount of money on a certain date and the maturity date refers to the day in which the complete amount needs to be fully paid. This date lets the lender know when he/she will receive all of the money back.

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On January 1 of this year, Diaz Boutique pays $105,000 to modernize its store. Improvements include new floors, ceilings, wiring
nexus9112 [7]

Answer:

Debit Asset Improvement account $105,000

Credit Cash account $105,000

Being entries to record cost of modernization of store.

Explanation:

The cost of the modernization is a cost that will be capitalized with the cost of the store as an asset. When an asset is purchased for cash, the adjusting entries required are;

Debit Fixed asset account

Credit Cash account

The modernization will be recognized in the Asset improvements account hence the debit entry will be posted there while the corresponding credit will go to cash account.

4 0
3 years ago
Read 2 more answers
In 1991, the Barenaked Ladies released their hit song "if I had a Million Dollars." How much money would the group need in 2017
jeka57 [31]

<u>Given:</u>

Consumer price index in 1991 = 136.2

Consumer price index in 2017 = 244

One billion dollar in numbers = 1,000,000

<u>To find:</u>

Money required in 2017 to have the same amount of real purchasing power that they did in 1991.

<u>Solution:</u>

Assuming 1991 as base year and 2017 as target year,

The purchasing power during 1991-2017 is

\Rightarrow\text { 1,000,000 } \times \frac{\text { CPI of target year }}{\text { CPI of base year }}

\Rightarrow \frac{244}{136.2}\times1,000,000

\Rightarrow 1.791483\times1,000,000

\Rightarrow 1,791,483.11 \approx 1,791,483

<u>Result:</u>

In 2017, The Barenaked Ladies need \bold{\$1,791,483} to have the same amount of real purchasing power that they did in 1991.

6 0
4 years ago
Which of the following was the cause of the passage of the Blaine Amendments?
umka21 [38]
The one that was the cause of the passage of the Blaine amendments was : Congress was not thoroughly prohibiting states from funding religious schools.
As the part of separation of state and church, the amendment was created to forbid direct government aid to educational institution with religious affiliation, the program was considered a failure

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7 0
3 years ago
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Hilltop grading, an american construction firm, recently acquired another company, earth builders, in indonesia. the high-level
zhuklara [117]
Of culture clashes between the two companies
7 0
2 years ago
With respect to the key dimensions of service quality, promptly crediting returned merchandise and rapidly replacing defective p
emmainna [20.7K]

Answer:

responsiveness

Explanation:

With respect to the key dimensions of service quality, promptly crediting returned merchandise and rapidly replacing defective products is an example of<u> responsiveness</u>

7 0
3 years ago
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