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3 years ago

Payee is whom the check is payable to

Business

2 answers:

melomori [17]3 years ago

6 0

I don’t understand the question

Harrizon [31]3 years ago

5 0

A payee is the person to whom a check, promissory note, draft or bill is written out. A payee may also be the one who holds the coupons of a bond. An example of a payee in a check is one whose name appears in the caption "Pay to the Order of" on most checks.

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The net income for Sheridan Company for 2020 was $350,000. For 2020, depreciation on plant assets was $69,700, and the company i

enyata [817]

Answer:

350,000 net income

+69,700 depreciation

+13,300 loss on disposal

433,000 adjusted income

no change in working capital

cash generated from operating activities 433,000

Explanation:

We need to remove from the net incoem the non-monetary terms

The depreication is an accounting concept, it doesn't involve cash disbursements, so it is added.

Also the los son disposal doesn't involve using cash so is also removed.

Rule:

to remove a non-monetary expense we should add it.

to remove a non-monetary gain we should decrease it.

5 0

3 years ago

jones enterprises was started when it acquired $6,000 cash from creditors and $10,000 from owners. the company immediately purch

Kobotan [32]

Answer:

The answer of each requirement is given below.

A.) record the events under an accounting equation

Accounting equation is given below.

Asset = Equity + Liability

Land + Cash = Equity + liability

12,000 + 4000 = 10,000 + 6,000

16,000 = 16,000

B.) After all events have been recorded, Jones's obligations to creditors represent what percent of total assets

Percentage = 6,000/16,000*100 = 37.5%

C.) after all events have been recorded, Jones stockholders equity represents what percent of total assets?

Equity percentage = 10,000/16,000* 100 = 62.5%

D.) assume the debt is due. given that jones has $10,000 in stock holders' equity can the company repay the creditors at this point? why or why not

No, the company will not be able to pay debt as the company has acquired land of 12,000 dollars and has only 4,000 dollars in liquid form.

4 0

3 years ago

The total amount that you owe for income tax in one year is your tax

Keith_Richards [23]

Yes,yes, it is.

making it longer so i can answer

4 0

3 years ago

Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the fir

Gwar [14]

Answer:

$18.29

Explanation:

Material Conversion

Units transferred to

the next department 7.400 7.400

Ending WIP

Materials 50% 1.900 950

Conversion Cost 35% 1.900 665

Equivalents Units Production 8.350 8.065

Cost of beginning work in process inventory $ 10.600 $ 12.800

Costs added during the period $ 142.100 $ 359.500

TOTAL COST $ 152.700 $ 372.300

Equivalents Units Production 8.350 8.065

Cost per equivalent unit $18,29 $46,16

3 0

3 years ago

Which of the following would best describe what would happen to the time value at the same nominal annual rate of a cash flow as

djverab [1.8K]

Answer:

A) Both the present value and future value would increase.

Explanation:

If the compounding frequency increases, then both the present value and the future value will increase because the effective annual rate will increase. E.g. interest used to be compounded every 6 months, now it is compounded monthly.

Both the present value and the future value vary jointly, if the present value decreases, then the future value will also decrease, and vice versa.

7 0

3 years ago