Assuming a year of 360 days, the maturity value of the note is $81,333.
The term notes payable can be found in the accounts receivable accounting cycle. For example, when we buy gadgets, furniture, or vehicles on credit. Usually we sign official documents, so from the buyer's point of view, these documents are notes payable. Meanwhile, for creditors, the document is a note receivable.
Notes payables are also usually issued when a customer gets a loan from a bank. Although they have varying terms, many banks will accept notes payable which bear interest on the amount borrowed.
From the above understanding there are several things that can characterize notes payable, including:
Seen from the borrower's point of viewIncrease on the credit sideIncluding passiveYou can learn more about Notes payables here brainly.com/question/21315882
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pugh co. reported the following in its statement of stockholders' equity on january 1, year 2: common stock, $5 par value, authorized 200,000 shares, issued 100,000 shares $500,000 additional paid-in capital 1,500,000 retained earnings 516,000 $2,516,000 less treasury stock, at cost, 5,000 shares (40,000) total stockholders' equity $2,476,000 the following events occurred in year 2: may 1 - 1,000 shares of treasury stock were sold for $10,000. july 9 - 10,000 shares of previously unissued common stock were sold for $12 per share. october 1 - the distribution of a 2-for-1 stock split resulted in the common stock's per share par value being halved. pugh accounts for treasury stock under the cost method. laws in the state of pugh's incorporation protect shares held in treasury from dilution when stock dividends or stock splits are declared. in pugh's december 31, year 2, statement of stockholders' equity, the par value of the issued common stock should be
the per value of the issued common stock should be $212,000
On January 1, there were 95,000 shares outstanding (100,000 issued – 5,000 treasury shares). That number was raised to 106,000 shares (95,000 + 1,000 + 10,000) by the sale of treasury stock and the issuing of previously unissued shares. The number of outstanding shares increased to 212,000 (106,000 shares multiplied by 2).
Equity held by shareholders refers to the sum that a company's founders have contributed to the enterprise. This covers the funds they have personally invested as well as the total amount of profits the business has generated and reinvested since its establishment. Additionally, the assets of the business are not the same as shareholders' equity. On a balance sheet, assets always equal liabilities plus shareholders' equity. Assets are what the company owns.
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Parts for an automobile repair cost $175. The mechanic charges $35 per hour. If you receive an estimate for at least $245 and at most $315 for fixing the car, what is the time interval that the mechanic will be working on the job?.
The time interval for the mechanic for this job is at least 2 hours or at most 4 hours.
According to the given question parts for an automobile repair cost 175 dollars and the mechanic charges 35 dollars per hour.
Given the person receives a cost of at least 245 dollars.
The mechanic's total rate is (245 - 175) dollars which is = 70 dollars.
Also given the mechanic charges 35 dollars per hour so the time mechanic work for is at least (70/35) hours which is = 2 hours
In the later case when the owner receives a bill of 315 dollars the total rate of mechanic is
= (315 - 175) dollars.
= 140 dollars.
So, the mechanic has worked for (140/35) hours which is 4 hours.
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An increase in prices of inputs will cause a _change in prices with an elastic demand as opposed to an inelastic demand. The change in input prices will cause a ___change in quantity if demand is elastic as opposed to an inelastic demand.
An increase in prices of inputs will cause a relatively small increase change in prices with elastic demand as opposed to inelastic demand. The change in input prices will cause a relatively small drop change in quantity if demand is elastic as opposed to inelastic demand.
The lowest price at which a company can sell a product while still making a profit is determined by the input prices. The cost of making the good is reflected in this pricing. To create an output while producing a good or service that is in demand, a process must be applied to the inputs. The prices of the things that a company pays for in order to make its goods are referred to as input prices. All costs involved in producing the in-demand product are added together to get the total input cost. The input price is calculated by dividing the output quantity by the unit price.
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In reconciling the balance of cash in the bank account with the balance of cash per the company’s records, differences in the two balances are due to either timing differences or errors. True or false?.
The statement "In reconciling the balance of cash in the bank account with the balance of cash per the company’s records, differences in the two balances are due to either timing differences or errors." is True
This is further explained below.
What is a balance of cash?Generally, The quantity of money that is now available is known as the cash balance.
You may calculate it by taking the cash amount from the previous month and adding the cash flow from this month to it.
In conclusion, If the cash flow is negative, you will need to remove it from the prior cash balance. It's not a huge deal if you have a negative cash flow once in a while, even if it lasts for a whole month.
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tack, inc. reported a retained earnings balance of $150,000 at december 31, year 1. in june, year 2, tack discovered that merchandise costing $40,000 had not been included in inventory in its year 1 financial statements. tack has a 30% tax rate. what amount should tack report as adjusted beginning retained earnings in its statement of retained earnings at december 31, year 2?
Correct answers is $178,000
Notes
A correction of an error is treated as a prior period adjustment, recorded in the year the error is discovered, and is reported in the financial statements as an adjustment to the beginning balance of retained earnings. The adjustment is reported net of the related tax effect. In this case the net-of-tax effect is $28,000 [$40,000 - ($30% × $40,000)]. This should increase beginning retained earnings because the understatement of 12/31/Y1 inventory would have resulted in an overstatement of cost of goods sold and therefore an understatement of retained earnings. Thus, the adjustment 1/1/Y2 retained earnings is $178,000 ($150,000 + $28,000). Tack's journal entry to record the adjustment is:
DR Inventory 40,000
CR Retained Earnings 28,000
CR Taxes Payable 12,000
What are retained earnings?
Retained earnings is the amount of profit remaining after a company has paid all direct costs, indirect costs, income taxes and dividends to shareholders. This represents a portion of the company's equity that can be used to invest in new equipment, research and development, and marketing, for example.
What are retained earnings?
Retained earnings is the cumulative net profit and loss of a company over all the years the company has been in operation. Retained earnings form part of shareholders' equity on the balance sheet.
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A shortage in the market for economics textbooks will ___________ the price of textbooks.
Answer:
increase
Explanation:
because many people will need them
Many business experts contend that __________ will likely be the growth market of the future.
Many business experts contend that Asia will likely be the growth market of the future. Thus, option A is correct.
What is the market?Markets are places where individuals, businesses, and industries exchange, whether it be for the purpose of purchasing, renting or delivering services. They use in order to earn a living.
According to the Global market conditions and development and the changes, it is likely said that the market of the future market of Asia will likely grow in the near future and will be converted into a developed country. Therefore, option A is the correct option.
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The question is incomplete, the complete question will be:
A) Asia
B) South America
C) the Middle East
D) Africa
1. The science of economics is needed because
a. today people have everything they need
b. governments must make all economic decisions
c. people have unlimited wants and needs and limited resources
d. people can't be trusted to make good decisions
The science of economics is needed because people have unlimited wants and needs and limited resources.
Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behavior and interactions of economic agents and how economies work.
Economics is the study of scarcity and its consequences for the use of resources, the production of goods and services, the growth of production and well-being over time, and a host of other complex problems vital to society.
Economics is essentially the study of people. It seeks to explain what drives human behavior, decisions, and responses when faced with adversity or success. Economics is a discipline that combines politics, sociology, psychology, and history.
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you and your spouse are in good health and have "reasonably secure" careers. you each make about $50,000 annually. you own a home with a $125,000 mortgage, and you owe $10,000 on car loans, $20,000 in personal debts, and $6,000 on credit card loans. you have no other debts. you don’t have any plans to increase the size of your family in the near future. the estimated cost of a funeral is $5,000 estimate your total insurance needs using the dink method.
Using the dink technique, a total of $90,500 in insurance would be required.
How Does Dual Income, No Kids (DINK) Work?A home with two earners and no kids are referred to as "dual income, no kids" (DINK) in slang. Due to the absence of the additional costs associated with having children, couples who live in DINK households usually have more money to spend.
As a result of the capacity to share living spaces like kitchens, baths, and bedrooms, they frequently spend less per person on housing than singles do. Contrast a living situation where both partners work and have children, called a DINK, with a DEWK to gain related understanding.
Calculation:
It is given that,
One-half of the mortgage = $62,500
One-half of a car loan = $5,000
One-half of personal debts = $10,000
One-half of credit card loans = 3,000
Funeral expenses = $5,000
Need for Insurance (DINK) = Half of Debts + Funeral Costs
= $62,500 + $5,000 + $10,000 + $3,000 + $5,000 + $5,000
= $90,500.
Therefore, Total Insurance Needs = $90,500.
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Privatization is often seen as a cure for bureaucratic inefficiency and waste; some economists estimate that privatization improves efficiency and reduces operating costs by as much as?
Many people believe that privatization is the solution to bureaucratic waste and inefficiency; some economists believe that privatization increases efficiency and lowers operating expenses by 20%.
How would you define privatization?
Privatization is the process of transferring a company or industry from the public to the private sector. The area of the economy that is controlled by the government is known as the public sector.
Can privatization increase effectiveness?
Companies like BT and British Airways have demonstrated varying degrees of increased efficiency and profitability since privatization. Governments are frequently observed to be ineffective economic managers. Instead of being driven by strong economic and commercial judgment, they are driven by political forces.
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Full Question :- Privatization is often seen as a cure for bureaucratic inefficiency and waste; some economists estimate that privatization improves efficiency and reduces operating costs by as much as
a) 5 percent.
b) 10 percent.
c) 15 percent.
d) 20 percent.
To ensure personnel assigned to engagements are independent in both fact and appearance, firms should ______.
To ensure personnel assigned to engagements are independent in both fact and appearance, firms should:
(1) identify threats to independence and take preventive actions to eliminate or reduce them to an acceptable level
(2) communicate proper independence requirements to personnel.
What is firm means in a business?
A firm is a for-profit business, usually formed as a partnership that provides professional services, like legal or accounting services. The theory of the firm possess that firms exist to maximize profits.
What are the functions of firm?
Firms employs different factors of production. This involves employing workers (labour) to produce goods and services. By employing labour, firms pay wages creating a continuous flow of income to households, which subsequently can be spent by households on goods produced by different firms.
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As late as 1750, indian produced ____ percent of the world's manufactured goods.
By 1900, only 2% of the world's industrial output, which accounted for around 25% of production in India in 1750, remained in India.
Between 1960 and 2021, India's GDP averaged 699.64 billion dollars, with a record high of 3173.40 billion dollars in 2021 and a record low of 37.03 billion dollars in 1960.
In the second, a comparison for Britain in 1800 is presented. That covers the majority of the world, at the country level. The United States and Britain were the two richest nations in the world in 1800 and 1900, respectively.
The majority of Europe's manufactured goods were produced by craftsmen with specific talents prior to the Industrial Revolution.
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Disney and other global firms have successfully bridged the cultural gap by producing advertising that appeals to the same target market across.
Disney and other global firms have successfully bridged the cultural gap by producing advertising that appeals to the same target market across countries.
What is advertisement?Advertisement can be defined as the process of creating brand or product awareness so as to increase sales or to generate sales.
Bridging the cultural gap has makes it possible for them to produce advert that tend to attract the same target market across countries.
Therefore Disney and other global firms have successfully bridged the cultural gap by producing advertising that appeals to the same target market across countries.
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develop a research instrument that can be used to assess customers buying behavior of any product of your choice
Develop market research, a research tool that can be used to evaluate the buying behavior of selected products. A customer is a natural or legal person who purchases goods or services from another company.
Customers are important because they generate income. Without them, the business cannot continue to exist. A customer's demand is a demand that motivates the customer to purchase a product or service. A requirement can be known (ie, uttered by the customer) or unknown and is the final factor in determining which solution the customer will purchase.
The definition of a customer is a person who purchases goods or services in a store, restaurant, or another retail outlet. An example of a customer is someone who goes to an electronics store and buys a TV. (informal) A person, especially a person, begins some kind of interaction with another. A consumer is an individual or group of end users of a product or service. Here are some examples: A person who pays a barber to cut and style their hair. A company that buys printers for businesses.
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Consider a good produced in a competitive market, but one with external benefits. The market price will result in too ______________ of the good for economic efficiency. The market price will be ______________ than the price that would convince producers to produce the efficient amount.
The market price will result in too little of the good for economic efficiency. The market price will be lower than the price that would convince producers to produce the efficient amount.
What is economic efficiency?
The definition of economic efficiency is the distribution or allocation of all goods and factors of production in an economy to their most valued uses while minimising or eliminating waste. Economic efficiency refers to the usage and allocation of each limited resource in an economy among producers and consumers in a way that maximises economic production and benefits for consumers.
Effective distribution of consumer and producer commodities among different consumers and companies, as well as effective production decisions made inside firms and industries, can all contribute to economic efficiency.
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When researchers are examining how a culture industry can turn ideas into commodities in order to profit from them, they are doing research on ______.
When researchers are examining how a culture industry can turn ideas into commodities in order to profit from them, they are doing research on commodification.
What is commodification ?Commodification is the process by which something that previously lacked economic worth acquires a value capable of displacing other societal values. Relationships that were previously unaffected by commerce are transformed through the process into ones that are fundamentally commercial in everyday use. The idea itself is fairly wide and aids in comprehending key facets of teenage growth.
Hence, Turning ideas into commodities in order to profit from them, is Commodification.
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Sarah needs to transfer money from one of her bank accounts to another. She would call someone from the Banking Services pathway of the Finance career cluster to help her do this.
A. True
B. False
The Answer is: A. True
She would need to call someone from the Banking Services pathway of the Finance career cluster to help her.
Three years ago, kenesha purchased $2,000 worth of stock in a major u. S. Corporation. Today, kenesha decides to sell all her shares for $15,000. Kenesha will be subject to.
If three years ago, Kenesha invested $2,000 in stock in a significant U.S. corporation, she will be liable for Long-Term Capital Gains of $13,000.
Long-term capital gains are those from stock sales made after holding the stock for longer than 24 months.
Long-term capital gain is calculated as Sale Price – Purchase Price, which is 15,000 – 2,000, or $13,000.
The long-term capital gain or loss is determined by comparing the value of the purchase and sale prices. This sum reflects the investor's net gain or loss on the sale of the asset. Short-term capital gains or losses are the net profit or loss an investor experienced upon the sale of an asset held for less than a year. Internal Revenue Service (IRS) taxes long-term capital gains at a lower rate than it does short-term capital gains.
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suppose a factory added $5,000 worth of output this year. incidentally, the waste from this factory caused $1,000 worth of loss to the neighboring waterways. as a result, gross domestic product will suppose a factory added $5,000 worth of output this year. incidentally, the waste from this factory caused $1,000 worth of loss to the neighboring waterways. as a result, gross domestic product will increase by $5,000. decrease by $4,000. increase by $1,000. increase by $4,000.
As a result of this question, the gross domestic product will rise by $5,000.
Exactly what the GDP means?The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished goods and services produced (and marketed) within a nation within a specific time period (typically 1 year). Purpose. The most often used indicator of economic activity is the GDP.
How is the GDP determined?The total amount of money spent during a specific time period by firms, consumers, and the government can be used to compute GDP. It can also be determined by adding up the total amount of money that each economic participant has received. The figure is an estimate of "nominal GDP" under both scenarios.
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A free-trade agreement is unlikely to result in:_______
a) pay increases for domestic workers.
b) higher-priced imports.
c) productivity declines.
d) decreased innovation.
A free-trade agreement is unlikely to result in the productivity decline in an economy.
What is the free-trade agreement?An agreement to lower import and export tariffs between two or more countries is known as a free trade agreement.A free trade policy allows for the purchase and sale of products and services across international boundaries with little to no restrictions from the government in the form of tariffs, quotas, subsidies, or bans.In the modern world, free trade agreement is frequently carried out by the official and mutual agreement of the participating countries.A free-trade policy, however, may simply mean the lack of any trade barriers.To advance free trade, a government need not take any special measures.Trade liberalisation or "laissez-faire trade" are terms used to describe this laissez-faire approach.To know more about free-trade agreement, refer to the following link:
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True or false: when calculating the present value of an annuity using the financial calculator, you enter the cash flows of the annuity in the pmt key.
When calculating the present value of an annuity using the financial calculator, you enter the cash flows of the annuity in the pmt key.
This statement is true.
A present value or PV calculation tells us about how much money would be required now to produce a single series of payments in the future by again assuming a particular set of interest rate.
The formula for calculating the present value of an annuity due will take into account the fact that payments are made at the beginning rather than the end of each period.
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What are the purposes of the accounting system? 2. what is the difference between cost reporting and cost control? 3. what are the key components of an accounting system that facilitate cost control?
A company can keep track of all kinds of financial activities with the use of an accounting system, including purchases (expenses), sales (invoices and income), obligations (funding, accounts payable), etc.
Other purposes of the Accounting System: transactions are recorded: the basic function of accounting is to keep a systematic, accurate, and comprehensive record of all financial transactions of an organization.
BUDGETING AND PLANNING.
DECISION MAKING.
BUSINESS PERFORMANCE.
FINANCIAL POSITION.
LIQUIDITY.
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Even when a firm uses the adaptation strategy, marketers from various countries ________________.
Even when a company employs the adaption technique, marketers from different nations share knowledge with one another.
What does marketing adaption method entail?
Every nation or market has its own Marketing Mix as a result of adaptation. The adaption strategy is designed to address market demands by organizing all corporate activities to effectively address the unique requirements and respect local consumers' values.
What does marketing plan adaption for global marketing entail?
An adaptation strategy involves altering the marketing mix's features or components to meet actual or imagined needs in specific country markets (Keegan and Green 2000, pp. 395–402). In essence, distinct tasks are carried out in various ways in international markets.
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The total demand rate for a resource is the sum of the individual demand rates that need to be processed by the resource. True or false?.
The total demand rate for a resource is the sum of the individual demand rates that need to be processed by the resource.
The given statement is True.
What is total demand rate?
Demand is an economic concept that refers to a consumer's desire to buy goods and services and willingness to pay a certain price for them. An increase in the price of a good or service tends to decrease the quantity demanded. Likewise, a decrease in the price of a good or service will increase the quantity demanded.Demand is a concept that consumers and businesses are familiar with because it makes sense and occurs naturally in the course of virtually every day. For example, customers who are interested in the products they want will buy more when the prices of the products are low. When something happens to increase prices, such as a change in season, shoppers buy less or maybe not at all.To learn more about total demand rate, refer to:
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What term describes a steady flow of income that funds the services for a
community?
4
(1 point)
O revenue stream
O cost of living
O tax return
O deficit
A revenue stream means the steady flow of income that funds the services for a community.
What is a revenue stream?Basically, this refers to the source or category of sources of some revenue of a company, organization, regional, national economy etc. In the context of business, the revenue stream are generally made up of either recurring revenue, transaction-based revenue, project revenue, or service revenue.
As these revenue streams means those various sources from which a business earns money from the sale of goods or the provision of services, hence, it means the steady flow of income that funds the services for a community.
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If the ncua charges 3.3 cents per 100 dollars insured and credit union m pays $5,995 in ncua insurance premiums, approximately how much is in credit union m’s insured deposits? a. $15.5 million b. $1.9 million c. $19.8 million d. $18.2 million
Option (d) is the correct answer. If the NCUA charges 3.3 cents per 100 dollars insured and Credit Union M pays $5,995 in NCUA insurance premiums, then approximately in Credit Union M's insured deposits, there will be $18.2 million.
Your payment for insurance coverage is known as the insurance premiums. To put it simply, premiums are the amounts you pay to insurance companies in return for coverage. So, consider "insurance deposit" instead of "insurance premium" when you hear that term. Typically, depending on the insurance, premiums are paid monthly, semiannually, or annually. The average amount that an insurer anticipates paying for treatments covered by the plan, plus a loading factor that accounts for the insurer's deposit, and operational costs, make up the premium charged for private health insurance policies.
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Answer: $18.2 million (D)
-----------------------------
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you showhat message does the following mission statement communicate? our customers are the most important stakeholder in our business. therefore, we go to extraordinary lengths to satisfy and delight our customers. we want to meet or exceed their expectations on every shopping trip. we know that by doing so we turn customers into advocates.uld treat all customers equally. this is simply fair practice and good business.
Answer: referred rgregregerhimy hsd
Explanation:
gibbs co. uses financial forecasts when estimating credit losses under the aging-of-accounts-receivable method. a customer's account in the amount of $5,000 is determined to be uncollectible. what impact does the write-off have on the company's credit loss expense and working capital?
On each reporting date, the allowance is adjusted so that the net carrying value of the receivables equals what is expected to be collected. The recovery of a receivable that was previously written off is recognized by reversing the entry to write it off with an increase to the allowance for credit losses and an increase in accounts receivable.
The collection is recorded with an increase in cash and a decrease to accounts receivable. The net effect is an increase in the allowance and an increase in cash with no change to accounts receivable.
An allowance is an amount of money that is granted or allocated on a regular basis, usually for a specific purpose. In relation to a child, parents may give the child allowance for other personal expenses.
What is allowance payment?
Allowance are funds provided for special needs such as food and housing. Cash allowance are provided if the government does not meet these specific needs. For example, the amount of government housing is insufficient to accommodate all military personnel and their families.
What types of allowances are there?
There are three types of allowances. These three types of benefits are of three types: non-taxable, partially taxable and taxable. Reimbursement: A payment made by a company to an employee to cover costs is called a reimbursement.
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Green company has net credit sales of $100,000, an asset turnover ratio of 4, and a receivables turnover ratio of 9. What is the average collection period?.
Net credit sales = $100,000
Asset turnover ratio = 4
Receivables turnover ratio = 9
Average collection period= 365 days / Receivable turnover (9) = 40.6 days
What is Average collection period?
The amount of time it takes a business to collect accounts receivable payments due from customers is known as the average collection period (AR). Businesses use the average collection period to make sure they have enough cash on hand to satisfy their financial obligations. The average collection period is a crucial indicator of how well a business handles its accounts receivable for companies whose cash flows are heavily dependent on receivables. Businesses decide the average collection period to ensure they have enough cash on hand to satisfy their financial obligations.
Average Collection Period = 365 Days * (Average Accounts Receivables / Net Credit Sales)
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If a company purchases equipment costing $5,500 on credit, the effect on the accounting equation would be:_________
In a condition where the company purchases equipment costing $5,500 on credit, the effect on the accounting equation would be a decrease in the liabilities for $5,500, and an increase in the assets for $5,500. Therefore, the option D holds true.
What is the significance of an accounting equation?An accounting equation can be referred to or considered as the equation that takes place in case of an accounting transaction, which has a debit and an equal credit effect.
Therefore, the option D holds true and states regarding the significance of accounting equation.
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The complete question has been added below for better reference.
If a company purchases equipment costing $5,500 on credit, the effect on the accounting equation would be:
A. Assets increase $5,500 and liabilities decrease $5,500.
B. Equity decreases $5,500 and liabilities increase $5,500.
C. Liabilities decrease $5,500 and assets increase $5,500.
D. Assets increase $5,500 and liabilities increase $5,500.