A short-term liability is a payment that is due in 12 months or less. Hence notes payable due in six months is reported as a short-term liability.
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What is a liability?</h3>
In the parlance of Accounting and Finance, a Liability is a financial obligation that the company owes to individuals, or organizations with which it has transactional or legal relationship.
Hence, it is correct to indicate that notes payable due in six months is reported as a short-term liability.
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Answer:
$262,000
Explanation:
Ending inventory = Goods on Hand + Cost Goods purchased from Marigold Corp + Cost of goods sold to Marigold Corp.
Ending inventory = $215,000 + $27,000 + $20,000
Ending inventory = $262,000
So, the amount that should Swifty report as its December 31 inventory is $262,000.
Adam Smith was the first who alluded to the concept of comparative advantage. This concept has later been elaborated by David Ricardo.
Explanation:
Listening. Being a good listener is one of the best ways to be a good communicator. ...
Nonverbal Communication. ...
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Friendliness. ...
Confidence.
Empathy. ...
Open-Mindedness. ...
Respect
