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2 years ago

What is the promissory note???

Business

1 answer:

Amiraneli [1.4K]2 years ago

7 0

Answer:

A promissory note, sometimes referred to as a note payable, is a legal instrument, in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms.

Explanation:

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Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2017. The sales price includes an insta

Shkiper50 [21]

Answer:

The revenue from sales to be recognized by Shaw is $390,000

Explanation:

A) Journal entry to record the sale on January 2, 2017

Date Particulars Debit Credit

January 2, 2014 Accounts Receivable $410,000

Sales Revenue $370,000

Unearned Service Rev $40,000

Being the recording of sales and unearned service revenue

Cost of Goods Sold $300,000

Inventory of Merchandise $300,000

B) Shaw should recognise the following Revenue from Sales to Ricard

Sales Revenue $370,000

Service Revenue (3/6 x $40,000) <u>$20,000</u>

Due to the fact that accounts end March 31st, $390,000

2017, only 3 months will be accounted for under

service revenue for the year

Therefor the revenue from sales to be recognized by Shaw is $390,000

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3 years ago

The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently making economic l

k0ka [10]

Answer:

The price of fertilizer must be greater than average variable cost.

Explanation:

Being a perfectly competitive market the prices of the fertilizers will rise. As the forms are making economic losses the prices must be greater the average variable costs.

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3 years ago

If we assume that both countries specialize according to their comparative advantage, then how do we find a terms of trade that

levacccp [35]

Answer:

The best way to find terms of trade that will ensure that two entities are in the best terms of trade will be to look at the opportunity costs of the various products they produce.

A high opportunity cost in one product relative to that of the other entity means the entity with the higher opportunity cost should be trading with the entity with the lower opportunity cost and vice versa.

For example, assume that an entity "A" produces both rice and beans whilst an entity "B" also produces rice and beans too.

If the opportunity cost to A of producing Beans is 300 bags of rice whilst the opportunity cost to B of producing Beans is 120 bags of rice, and the opportunity cost to A of producing rice is 180 bags of beans whilst it is 250 bags of beans to B, the principles of comparative advantage require that A should focus more on producing rice and purchase beans from B whilst B should focus more on producing beans and purchase rice from A.

Cheers!

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3 years ago

Which spreadsheet type will determine how well a business has done over the past year?

Scilla [17]

A profit and loss statement<span> will determine how well a business has done over the past year.The profit and loss statement is a financial statement which shows revenue, costs and all expenses that happened during a said period of time. Most companies do this quarterly or yearly. </span>

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3 years ago

Read 2 more answers

Joint _____ prepares individuals, joint forces, or joint staffs to respond to strategic, operational, or tactical requirements c

Masteriza [31]

Answer: Joint training

Explanation: In simple words, joint training refers to the process in which an organisation or an entity tries to persuade and influence the behavior of their staff by making teaching them any specific kind of technical skill.

Such kinds of training are very common in defense forces such as military and police force, where team work and relative trust is of high importance. But these kinds of training are also used by other organizations in cases where the number of candidates is large and it is not possible to train each of them individually.

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4 years ago

What is the promissory note???​

What is the promissory note???