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Hunter-Best [27]
3 years ago
12

On December 31, 2015, Peligrino Co. has a long term note payable of $800,000. Of that balance, $100,000 will be paid within one

year from the balance sheet date. How much of the note payable should Peligrino Co. report as a long term liability when they prepare the December 31, 2015 balance sheet
Business
1 answer:
Studentka2010 [4]3 years ago
3 0

Answer:

$700,000

Explanation:

The portion of the long term note payable that is due within one year must be reported as current portion of long term debt (CPLTD) and must be included under current assets. In this case, the current portion of the long term debt is $100,000, so the portion that must be reported as long term debt is $800,000 - $100,000 = $700,000.

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Leather Shop earned net income of $ 71,000 after deducting depreciation of $ 5,000 and all other expenses. Current assets decrea
Thepotemich [5.8K]

Answer:

$89,000

Explanation:

Given that,

Net Income = $71,000

Depreciation = $5,000

Increase in Current Liabilities = $9,000

Decrease in Current Assets = $4,000

Net Cash from Operating Activities:

= Net Income + Depreciation + Increase in Current Liabilities + Decrease in Current Assets

= $71,000 + $5,000 + $9,000 + $4,000

= $89,000

Therefore, the Leather Shops cash provided by operating activities​ (indirect method) is $89,000.

7 0
3 years ago
Ironically, while the leaders of Enron Corporation were manipulating the company's finances for their personal benefit, the comp
faltersainse [42]

Answer:

Correct option is (d)

Explanation:

Corporate social responsibility is an initiative taken by companies to act for the benefit of the society. Since companies utilize resources from the society, it their responsibility to give back to the society in the form of charity to non governmental organizations, welfare of underprivileged and protecting the environment.

Here, though Enron was undertaking unethical means for personal benefits, it was also carrying out corporate social responsibility by donating to Houston area charities.

4 0
3 years ago
Suppose you know that the price elasticity of demand for your product is 0.5, and you are thinking about raising your price by 8
satela [25.4K]

Answer: Option (c) is correct.

Explanation:

Given that,

Price elasticity of demand = 0.5

Percentage increase in price = 8%

Price elasticity of demand = \frac{Percentage\ change\ in\ quantity\ demanded}{Percentage\ change\ in\ price}

0.5 =  \frac{Percentage\ change\ in\ quantity\ demanded}{8}

Percentage change in quantity demanded = 0.5 × 8

                                                                       = 4%

Therefore, if the price rises by 8% then as a result quantity demanded decreases by 4%.

4 0
3 years ago
Why is cvp analysis more difficult when using absorption costing than when using variable costing?.
laiz [17]

CVP analysis is more difficult because its requires costs to be broken down between variable and fixed which is not done in absorption costing.

<h3>What is a CVP analysis?</h3>

This is an analysis that find out how changes in the firm's variable and fixed costs affect the firm's profit.

Hence, the analysis is difficult when using absorption costing than when using variable costing because its requires costs to be broken down between variable and fixed which is not done in absorption costing.

Read more about CVP analysis

<em>brainly.com/question/26654564</em>

4 0
2 years ago
a woman who was born and raised in a poor family becomes a regional supervisor for bank of america. she has experienced
Damm [24]

According to the functionalist theory, stratification is essential and unavoidable because it is required to persuade those who possess the requisite knowledge and abilities to choose jobs that are crucial to society.

According to the conflict theory, society is a dynamic system that is always undergoing change as a result of struggle for limited resources.

Max Weber, a German sociologist, devised the three-component theory of stratification, also referred to as Weberian stratification or the three class system, which used class, position, and party as different ideal types.

What is the pariah group? Meaning of Max Weber

19 (3): 313–318 History and Theory (1980) Abstract. In the scientific study of Judaism, the term "pariah" was first used by Max Weber, who described it as the voluntary separation of a people's religion and morals from their host society.

Learn more about functionalist theory here:

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#SPJ4

4 0
1 year ago
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