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Burka [1]
2 years ago
6

An asset is acquired using a noninterest-bearing note payable for $100,000 due in two years. Management records the purchase wit

h a debit to the asset for $100,000 and a credit to notes payable for $100,000. Which of the following statements is correct?A. Management has properly recorded the transaction.B. Management has not considered the present value of the note in recording the asset.C. Management should not record the asset until the note has been paid.D. Management should record the note for more than $100,000 to account for the underlying interest.
Business
1 answer:
TiliK225 [7]2 years ago
6 0

Answer:

The answer is A. Management has properly recorded the transaction.

Explanation:

According to the given data Since the note is non interest bearing, no interest will be paid on the bond.

Therefore, asset will be debited and note payable will be credited by the full amount.

Therefore, the Management has properly recorded the transaction.

The joural entry would be as follows:

                        Debit            Credit

asset              $100,000

note payable                    $100,000

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3 years ago
What convinces Nick that Gatsby might be telling the truth about his background? A: He shows Nick a business card with his real
Dominik [7]

Answer:

C. Gatsby shows Nick a medal from Montenegro

Explanation:

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To substantiate his narration and to take Nick into confidence, Gatsby hands over to Nick, various articles such as his old university days photograph, the medal he won at Montenegro.

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8 0
3 years ago
Can you tell when someone you call is friendly before answering the phone?EXPLAIN
Travka [436]

Answer:

Yes I can tell whether or not the person is friendly or not

Explanation:

The first thing is that friendly conversation companion is the one who will be available for you to talk and answers you with logics and is more kind.

If I called a person in my past and my experience was that he answered me in an ethical manner, without any hesitation and talks to me freely about the matters and considerations involved with the topic then the person is friendly. Furthermore, the time you are calling him or her and the situation he or she is in sometime have effect on the conversation. If I have done wrong to someone then greater chances exist that the person will not be friendly and vice versa.

8 0
3 years ago
On January 2, 2020, Orange Corporation purchased equipment for $300,000 with an ADS recovery period of 10 years and a MACRS usef
Sveta_85 [38]

Answer:

decrease $49,605

Explanation:

corporation purchased eqipment = $ 300000

ADS recovery period = 10 years

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th eequipment sold for $290,000

The result is option d. Decrease $ 49,605

4 0
3 years ago
25
Anna35 [415]

Answer:

<u>Foreign trade</u>

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Often times a major determiner of the value of countries currency is the amount of their exports.

Thomas therefore as a financial advisor <em>should advise the government to build more on production of locally available materials that are highly demanded internationally for exports, by so doing he could improve the country's currency</em>.

5 0
3 years ago
Read 2 more answers
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