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NemiM [27]
3 years ago
15

Federal Bank of America has loaned $9,000 to Southgate Animal Hospital, using a 90-day non-interest-bearing note. The bank disco

unted the note at 8%. The debit to Discount on Notes Payable in the general journal will be in the amount of
Business
1 answer:
eduard3 years ago
7 0

Answer: $180

Explanation:

From the question, Federal Bank of America has loaned $9,000 to Southgate Animal Hospital, using a 90-day non-interest-bearing note. The bank discounted the note at 8%.

Therefore, the debit to Discount on Notes Payable in the general journal will be:

= $9,000 × 8% × 90/360

= $9,000 × 8/100 × 1/4

= $9,000 × 0.08 × 0.25

= $180

The correct answer is $180

It should be noted that we used 360 days for a year.

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aliina [53]

Answer:

A. The fact that political infighting consumes a great deal of organizational energy.

Explanation:

When we discuss internal environment of any organization, it includes all the people inside the organization, when we use the term politicized, it impacts negatively on the organization, as it states that there is a political characteristic in the organization.

This is negative as this represents some negative and unethical practices in a corporate entity.

This further impacts the organization in its performance. This might lead to negative results, or in simple terms might not allow the people in organization to perform and give their 100% of input.

Thus, statement A is correct.

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3 years ago
Deflation is generally considered by economists to be a positive economic situation because it creates strong job growth.
Drupady [299]

Answer:

The correct answer is False.

Explanation:

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The danger of this situation comes from how difficult it is to get out of it, since a vicious circle is created by which when demand falls, companies are reduced their profits by having to reduce prices to get sales, as a result , they have to reduce costs, which means they have to cut jobs. In turn, if there are people who run out of work, demand will continue to decrease as they will stop buying as well.

3 0
3 years ago
How does an error that results in an overstatement of ending inventory affect the elements of the company's financial statements
Kruka [31]

Answer:

A. + NA + NA - + NA

Explanation:

Since in the question there is an overstatement of ending inventory which affect the financial statements i.e increase in the gross profit due to which the net income is also increase that reflects the increment in the retained earning and the equity as well plus the asset side is also increased but it does not have any change in the cash flow statement as it does not involve any transaction of cash

Hence, the first option is correct

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3 years ago
Fred must have licensure in order to work as a Barber in New York State. When Fred proves that he has the training and skills ne
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Answer: the body governing control on business

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The body responsible for issuing of tax in most countries and cities differs, in most cities an organization could be set up to monitor different business or a specific business or the state government of that city may stand up for such responsibility. It all depends on the state.

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