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3 years ago

At what amount is a short-term notes receivable recorded on the issue date?

Business

1 answer:

laiz [17]3 years ago

6 0

Answer:

At face value

Explanation:

Short term notes are always recorded at face value, and that applies to both interest and non-interest bearing short term notes.

Non-interest bearing long term notes must be recorded at their discounted value, i.e. you must discount the long term note' face value by the discount rate used by the company.

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Which of the following statements is true?

marissa [1.9K]

Answer: B) A)

Explanation:

This kind of method, direct write-off method is referring to your question and it is considering a method that is used for recognizing bad debts expenses that are coming from credit sales of someone's account. With this method there is no account that is considering allowance and receivable that is found on someones's account is written-off directly to expense when there is uncollectible account expense.

One of the greatest advantages is simplicity because those companies who are doing this method have to make only two transactions.

5 0

4 years ago

Read 2 more answers

Genova Corporation has a four year 10% annual coupon bond. The price of the bond is $956.12. The Yield to Maturity is 11.43%. Wh

lbvjy [14]

Answer:

10.46%

Explanation:

Data provided in the question

NPER = 4 years

Price of the bond is $956.12

Yield to maturity is 11.43%

Coupon rate = 10%

We assume the face value be $1,000

So the coupon payment is

= Face value × Coupon rate

= $1,000 × 10%

= $100

Now the current yield on this bond is

= Coupon payment ÷ Price of the bond

= $100 ÷ $956.12

= 10.46%

8 0

3 years ago

The project has been challenging to manage. Everyone has been on edge due to pressure to complete the project on time. Unfortuna

denpristay [2]

Answer: C. Involve the team in creating ground rules for the meetings.

Explanation:

The meetings have seemingly descended into anarchy and as such needs to be controlled in an orderly manner to make any sort of progress. One way this can be done is through the setting of ground rules. These rules need to be accepted and inclusive of people's qualms or else the arguments will continue.

When the rules are made therefore, the inputs of the entire team should be taken into consideration and this is what the Project manager needs to do. Setting all inclusive rules also helps the team understand each other better during the discussions are point of views will be seen and understood better.

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3 years ago

Problem 24-01 Liquidation Southwestern Wear Inc. has the following balance sheet: Current assets $1,875,000 Accounts payable $37

Softa [21]

Answer:

1. Proceeds from sale of assets $ 4,000,000

2. First mortgage, paid from sale of assets 0.00

3. Fees and expenses of administration of bankruptcy 276,250

4. Wages due workers earned within 3 months prior to filing of bankruptcy petition 0.00

5. Taxes 0.0

6. Unfunded pension liabilities 0.00

7. Available to general creditors $3,723,750

Distribution to general creditors

Claim (1) =$1,875,000

Application of 100% Distribution(2)=$1,875,000

After Subordination Adjustment

(3)=$1,875,000

Percentage of Original Claims Received

(4)=$1,875,000

Explanation:

Calculation for how much will each class of investors receive if a total of $4 million is received from sale of the assets

1. Proceeds from sale of assets $ 4,000,000

2. First mortgage, paid from sale of assets 0.00

3. Fees and expenses of administration of bankruptcy 276,250

4. Wages due workers earned within 3 months prior to filing of bankruptcy petition 0.00

5. Taxes 0.00

6. Unfunded pension liabilities 0.00

7. Available to general creditors $3,723,750

Distribution to general creditors:

Claims of General Creditors

Notes payable

Claim (1) 750,000

Application of 100% Distribution

(2) 750,000

After Subordination Adjustment

(3) 750,000

Percentage of Original Claims Received

(4) 100%

Accounts payable

Claim (1) 375,000

Application of 100% Distribution

(2) 375,000

After Subordination Adjustment

(3) 375,000

Percentage of Original Claims Received

(4) 100%

Subordinated debentures

Claim (1) 750,000

Application of 100% Distribution

(2) 750,000

After Subordination Adjustment

(3) 750,000

Percentage of Original Claims Received

(4) 100%

TOTAL

Claim (1) $750,000+ 375,000+750,000=$1,875,000

Application of 100% Distribution

(2)$750,000+ 375,000+750,000=$1,875,000

After Subordination Adjustment

(3)$750,000+ 375,000+750,000=$1,875,000

Percentage of Original Claims Received

(4)$750,000+ 375,000+750,000=$1,875,000

3 0

3 years ago

Innovations in agriculture have increased food supply. this has allowed human populations to grow to approximately ________ by t

Setler79 [48]

The answer to this question is "10, 000 years innovation". Hence, to complete the sentence we have it "Innovations in the field of agriculture have increased and keep increasing the food supply. This situation has allowed the human populations to grow approximately 10,000 years innovations by the end of the agriculture period".

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3 years ago