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telo118 [61]
3 years ago
7

What entry does whispering winds corp. make at the maturity date, assuming gates pays the note and interest in full at that time

?
Business
1 answer:
Xelga [282]3 years ago
4 0
Since the interest payable, principal and the maturity date was not given in this problem. I can only give you the account titles used and their respective debit and credit side. But to know the interest owed, used the formula I = Prt.

So when Whispering Winds Corporation receives the principal and the interest payment, the entry would be:

Debit Cash xx

Credit Notes Receivable xx

Credit Interest Income xx
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When businesses raise the price of a needed product or service after a natural disaster, this is known as price gouging. Price gouging is something that businesses do after a natural disaster when they know consumers are going to need a specific product or service so they raise the price because they know people are going to buy it anyways. An example of this is when they raise gas prices after a natural disaster, knowing people still need gas.

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"The objective of external auditing is to provide opinions on the reliability of the financial statements and provide opinions o
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A ________ is a retail firm owned by its customers. Members contribute money to open their own store, vote on its policies, elec
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4 years ago
The following information is available for Montrose Company at December 31: Cash in bank account $ 8,540 Petty cash $ 250 Short-
ANEK [815]

Answer:

Cash $10,430 ; Cash equivalents $20,400

Explanation.

Cash consist of all currencies in hand or any convertible asset which can be converted to cash immediately.

It is to be noted that the assets with high liquidity will be included in cash and cash equivalent balance. They can quickly be converted to cash and would normally have 90 or lesser days to mature.

Solution.

$

Cash in bank. 8,540

Petty cash. 250

Check from customer. 1,350

Money order. 290

Cash. 10,430

The check has a very short maturity period since it will clear within 3-4 working days.

Money order can be cashed immediately .

Therefore;

Cash value is $10,430

For cash equivalent,

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The amounts considered as cash and cash equivalents as of 31 December are ;

Cash $10,430 , $20,400 respectively.

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Assume that we are in the MM world. The beta of an all-equity firm is 1.4. Suppose the firm changes its capital structure to 40
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2.3

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