I need the answer for this

On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.7 million cash to expand operations. The l

Elena-2011 [213]

Answer: Please see answers in explanation ncolumn

Explanation:

Journal entry for Trico Technologies

1) To record issuance of notes

Date General Journal Debit Credit

Aug 1st 2021 Cash $19,700,000

Notes Payable $19,700,000

Adjustment for Interest

= Principal x rate x time ( from August to December 31st)

$19,700,000 X 9% X 5/12=$738,750

To record accrual of interest at Year end.

Date General Journal Debit Credit

Dec 31st,2021 Interest expense $738,750

Interest payable $738,750

3. Record Payment of Note at maturity

Date General Journal Debit Credit

Jan 31st,2022 Notes payable $19,700,000

Interest Expense $147,750

Interest payable $738,750

Cash $20,586,500

Interest Expense =Principal x rate x time ( the remaining one month

$19,700,000 X 9% X 1/12=$147,750

8 0

2 years ago

You created a financial model for a pitchbook being presented tomorrow to a potential new client. While reviewing the final vers

sashaice [31]

Explanation:

A pitchbook is confidential document. It is basically a sales document, used by the sales force, which contains main features or attributes of the firm, the potential of the firm and the future aspects of the firm in detail.

So keeping the given question in mind, I would write to my supervisor as follows:

Subject: Assistance Required

Body:

Dear Sir,

By reviewing the whole document finally, which is to be presented to the client tomorrow, I found some mistakes in the results. I came to know that the results are incorrect and are surely needed to be corrected before the presentation.

I recommend you to delay the meeting for 3 hours by the scheduled time, as i need to check and correct the whole figures again and this would take time.

I am looking forwards for your advice.

Best Regards

6 0

3 years ago

Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount repor

myrzilka [38]

Answer:

Specter Co.

The amount reported on the year-end balance sheet for cash and cash equivalents is:

= $31,100.

Explanation:

a) Data and Calculations:

Cash deposit in checking account = $16,000

Bond investment due in 20 years = $46,000

US Treasury bill due in 1 month = $11,500

3-year loan to an employee = $850

Currency and coins = $3,600

Accounts receivable $1,150

Cash and Cash Equivalents:

Cash deposit in checking account $16,000

US Treasury bill due in 1 month 11,500

Currency and coins 3,600

Total cash and cash equivalents = $31,100

b) Cash and Cash Equivalents are Specter's assets that are in the form of cash (currency and coins) and Specter's assets that can be readily converted into cash (Treasury bills and notes, commercial papers. certificates of deposit, money market funds, and cash management pools).

4 0

2 years ago

The use of simulation to create an aggregate plan:

12345 [234]

Answer:

Answer is option b i.e. will produce a plan that may not be the best plan.

Explanation:

Simulation is the technique used to create an artificial environment that is similar to the real-life situation to study various problems and how to tackle them. However, it is not the full proof plan which means it is based on certain probability and chances that a certain situation might arise. Many times situations are not as planned and here we cannot solely depend on the solution that we have learned during the simulation process. Therefore, the simulation will provide us with a plan that may or may not be the best plan.

6 0

3 years ago

In a recent speech, the governor of your state announced: "one of the biggest causes of juvenile delinquency in this state is th

Pepsi [2]

<span>A flaw in the governor's reasoning is that a lot of people in that age bracket who are already juvenile delinquents aren't going to stop doing bad things just because they might get paid more at a job. Those people may just not want to have a job and would rather enjoy their youth causing trouble before they have to "settle" into a career.</span>

6 0

3 years ago