Answer:
the journal entry to record the loan:
E.g. January 1, 202x, loan made to Ryan Company
Dr Notes receivable 69,000
Cr Cash 69,000
the journal entry to record the collection of the note:
E.g. January 31, 202x, note collected from Ryan Company
Dr Cash 69,575
Cr Notes receivable 69,000
Cr interest revenue 575
interest revenue = $69,000 x 10% x 30/360 = $575
It would be an informative resource
Answer:
The correct answer is letter "D": unit of account and store of value.
Explanation:
Bitcoin is the first decentralized digital currency. It is also referred to as a virtual currency or a crypto-currency. Bitcoins are held in a digital wallet and can be sent over the internet. Bitcoin transactions are authorized using a digital signature. The transactions are verified usually within minutes by a network of miners. Once verified, the transaction is permanently stored on a public ledger known as The BlockChain.
Three are the functions of money: <em>medium of exchange, store of value, </em>and <em>unit of account</em>. In order to boost its use, a few merchants have started to accept Bitcoin as a medium of exchange but it still is not considered a unit of account since most items in the real world are valued in monetary terms. Also, it is not considered a store of value because, unlike money, Bitcoin cannot be saved in bank accounts earning interest. Bitcoins must be sold (at profit) to provide the holder revenues.
Answer: See explanation
Explanation:
a. Sales = $27000
Less: sales returned = -$660
Less: discount at 2% = ($27000 - $660) × 2% = -$526.8
Net sales = $25813.2
b. Net sales = $25813.2
Less: cost of goods sold = $15000 - $400 = -$14600
Gross profit = $11213.2
Operating expense:
Less: Selling and administrative expenses = -$2835
Operating income = $8378.2
Non-operating items:
Less: Interest expense = ($200
Add: Gain on land Sales = $900
Net Income= $9078.2
c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.
d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
Option B is the correct answer.
Answer:
a. By evaluating cash flows.
Explanation:
In Economics, an asset can be defined as any resources of economic value or items of monetary value that is being owned by an individual, country or business organization to generate income and derive benefits from.
Generally, assets can be classified broadly into four (4) categories and these are; capital assets, fixed assets, intangible assets, and financial assets.
Financial managers tend to value all assets in the same terms by evaluating cash flows.
Cash flow can be defined as the net amount of cash and cash-equivalents that is flowing into (received) and out (given) of a business. There are three (3) main components of the cash flow; investing, operating and financing.
