A note receivable (promissory note) : Is a loan or written promise to pay a specified amount of money at a certain date.
What are Notes Receivable?
A note receivable is also known as a promissory note.
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement. Promissory notes are a written promise to pay cash to another party on or before a specified future date.
When the note is due within less than a year, it is considered a current asset on the balance sheet of the company the note is owed to. If its due date is more than a year in the future, it is considered a non-current asset.
The interest income on notes receivable is recognized on the income statement. Therefore, when payment is made on a note receivable, both the balance sheet and the income statement are affected.
Thus, we can conclude that the correct option is B. A note receivable (promissory note) : Is a loan or written promise to pay a specified amount of money at a certain date.
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Write the answer in the empty income statement
The income statement net income is $61,305.
Income statement
Income statement for the year ended December 31 2020
Revenue:
Fees earned $74,175
Commission earned $42,590
Total revenue $116,765
Expenses:
Car expenses $13,600
General expense $3,985
Postage expense $415
Rental expense $7,640
Wages expense $29,820
Total expenses $55,460
Net income $61,305
($116,765-$55,460)
Therefore the income statement net income is $61,305.
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Writing the net income in an Income statement sheet for Compu-Paris Inc. for the year ended December 31, 2020, is as follows:
Compu-Paris Inc.
Income statementFor the year ended December 31, 2020
Revenue:Fees earned $74,175
Commission earned 42,590
Total revenue $116,765
Expenses:Car expenses $13,600
General expense 3,985
Postage expense 415
Rental expense 7,640
Wages expense 29,820
Total expenses $55,460
Net income $61,305
What is an income statement?An income statement is a financial statement that summarizes an entity's revenue and expenses to determine the net income.
Also called an income summary, it determines the entity's financial performance for a financial period.
Thus, Compu-Paris Inc.'s income statement shows that it earned a net income of $61,305 for the year ended December 31, 2020.
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Which regulatory act created seven Regional Bell Operating Companies (RBOCs) from 22 former Bell Operating Companies (BOCs)
The regulatory act is 1982 Modified Final Judgement (MFJ)
1982 Modified Final Judgement (MFJ) regulatory act created seven Regional Bell Operating Companies (RBOCs) from 22 former Bell Operating Companies (BOCs).
Regional Bell operating company (RBOC) is the term used to describe one of the U.S. regional telephone companies formed as a result of the December 31, 1983, breakup of American Telephone and Telegraph Company (AT&T, also known as the Bell System or "Ma Bell") by a U.S. Federal Court consent decree. Ameritech, Bell Atlantic, BellSouth, NYNEX, Pacific Bell, Southwestern Bell, and US WEST were the seven original regional Bell operating businesses.
Therefore, the answer is 1982 Modified Final Judgement (MFJ)
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When Ben left the corporate rat race to start his own pottery business, he used some of his retirement savings to finance the business. This practice is known as:
When Ben left the corporate rat race to start his own pottery business, he used some of his retirement savings to finance the business. This practice is known as bootstrapping.
What is bootstrapping?Bootstrapping is a word used in business to describe the process of starting and growing a firm utilizing solely available resources, such as personal funds, personal computing equipment, and garage space.
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The price of lemonade is $0.50; the price of popcorn is $1.00. If Fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be:
2 lemonades for each popcorn will be the answer.
Utility maximization is the concept by which individuals and organizations seek to achieve the highest levels of satisfaction with their financial decisions. The utility function measures the intensity at which a person's achievements are achieved.
If a consumer wants to maximize total utility, for every dollar he spends, he should spend it on items that bring the maximum marginal utility per dollar spent.
When multiple products are selected, the condition for maximizing utility is for the consumer to balance marginal utility per pound. The utility maximization conditions are as follows: MUA / PA = MUB / PB Where MU is marginal utility and P is price.
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Since the addition of Lunchables Brunchables, there have been high sales growth and profits. Which stage of the product life cycle does this reflect?
Growth stage of the product life cycle does this reflect.
What is the growth phase?The Growth stage, the second stage in the product life cycle, is crucial for many manufacturers because it helps a product take its place in the market, boost sales, and increase profit margins.
What occurs during the growth stage?Consumers have accepted the product on the market and are starting to genuinely buy in during the growth stage. That indicates that both demand and profits are rising, preferably consistently and quickly. The market for the product is expanding during the expansion stage, and competition is starting to emerge.
What is an illustration of a growth stage?For instance, the Tesla Model S is currently seeing growth. People still need to be persuaded that electric automobiles are reliable and useful. It gets easier to convince individuals who are more skeptical of new technology, like electric automobiles, when there are more electric charging stations and more people embrace them.
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The legal mechanism for evaluating the existence of an incentive for a person's promise to establish a binding contract and acts as a receipt of a legal benefit or the suffering of a legal detriment is ________. Group of answer choices accord and satisfaction novation collusion consideration reversion
The suffering of a legal detriment is consideration.
What is consideration explain with example?The term "consideration" refers to anything of value that is promised by one party to the other when entering into a contract.For instance, if A forms a contract with B to purchase a car from B for $5,000, A's consideration is the $5,000, and B's consideration is the car.What is a consideration in business?Consideration in business can signify one of two things. Either it is the same as payment, or it is a contractual exchange of promises made by both parties to benefit from the agreement. The definition we will be talking about today is the second one. In this sense, consideration must have actual worth.What is consideration and its type?Consideration is divided into two categories When the promise has not been fulfilled when it should have been within the parameters of the contract.
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Adam smith suggests that increased competition will allow prices to be kept ______________________.
Adam Smith suggests that increased competition will allow prices to be kept at equilibrium or natural price. This is further explained below.
What is equilibrium price?Generally, When there is a balance between the supply of products and the demand for those items, an equilibrium price is reached. Whenever a major index goes through a phase of consolidation or sideways motion
In conclusion, Adam Smith argues that market forces will stabilize prices at a natural level of competition is enhanced.
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Statements that show the effects of proposed transactions as if the transactions had already occurred are called:
Proforma statements are those that depict proposed transactions' results as if they had already happened.
What are Proforma statements?There are several aspects of corporate decision-making that rely heavily on figures. You must show that your ideas are financially sound in order to gain support from important stakeholders, attract investors, and strategically plan.
A historical snapshot of a company's performance can be provided by some financial documents, such as balance sheets, income statements, cash flow statements, and annual reports, but they sometimes lack the ability to provide foresight when making future planning decisions. Because of this, professionals frequently use predictions and financial projections to inform their decisions and provide crucial "what if" scenarios. A frequent kind of projection that can be helpful in these circumstances is pro forma financial statements.
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The value principle of ______ is the basis of the income approach to appraisal. Unset starred question Anticipation Capitalization Competition Substitution
The value principle of Anticipation is the basis of the income approach to appraisal.
What is the principle of anticipation ?The principle of anticipation to know the worth or amount of a property or assets. This is done using the income of the individual to know the value of the property and the future benefit or worth.
Therefore,
The value principle of Anticipation is the basis of the income approach to appraisal
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GDP per capita in Kazakhstan has increased greatly in the twenty-first century as a result of the nation's: Group of answer choices oil reserves.
GDP per capita in Kazakhstan increased greatly in the 21st century as a result of the nation's: A. oil reserves.
What is GDP?GDP is an acronym for gross domestic product and it refers to a measure of the total market value of all finished goods and services that are produced within a country over a specific period of time.
This ultimately implies that, GDP per capita in Kazakhstan increased greatly in the 21st century due to her oil reserves.
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Complete Question:
GDP per capita in Kazakhstan has increased greatly in the twenty-first century as a result of the
nation's:
A) oil reserves.
B) carpet trade.
C) close alliance with Russia.
D) annexation of Turkmenistan.
The 1828 "tariff of abominations" originated with ______, but because it placed tariffs on other imports in order to win support from other constituencies, it raised the price of ______ and therefore lost the support of the group it had been intended to help.
The 1828 "tariff of abominations" originated with New England textile manufactures, but because it placed tariffs on other imports in order to win support from other constituencies, it raised the price of raw material and therefore lost the support of the group it had been intended to help.
In May 1828, the United States passed the Tariff of 1828, a particularly onerous protective tariff. Unexpectedly, the law succeeded despite being written such that Congress wouldn't approve it because it would harm both industry and agriculture.
Because of the impact it had on the economy of the South, it was derided as the "Tariff of Abominations" by its opponents in the region. Some imported commodities were subject to a 38 percent tax, and some imported raw materials were subject to a 45 percent tax.
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According to the basic quantity equation of money, if price and output fall while velocity increases, then: the quantity of money will rise. the quantity of money will fall. the quantity of money will rise before it falls. the quantity of money will rise slowly.
The quantity of money will fall.
According to the quantity theory of money, the overall price level of goods and services in an economy is proportional to the money supply, assuming that the level of actual output is constant and velocity of the money is constant.
The same dynamics that drive the supply and demand of any product also influence the supply and demand of money: an increase in money supply, in general, reduces the marginal value of money, reducing the purchasing power of one unit of currency.
Therefore, the correct option is the quantity of money will fall.
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Under MM with no taxes, as debt is Blank______ to capital structure, the cost of equity Blank______. Multiple select question. added; decreases removed; increases removed; decreases added; increases
removed; decreases; added; increases It means that when a debt is removed the cost of equity decreases and when a debt is added the cost of equity increases.
What is capital structure?
Capital structure is the specific mix of debt and equity utilized by an organization to fund its general tasks and development.
What is cost of equity?
The cost of equity alludes to two separate ideas, contingent upon the party in question. In the event that you are the investor, the expense of value is the pace of return expected on an interest in value. In the event that you are the organization, the cost of equity decides the necessary rate of return from a specific task or investment.
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The table identifies how many thousands of units of corn and diamonds the United States and Congo can produce in one week. Use this data to answer the question that follows.
Corn Diamonds
United States
60 10
Congo
20 5
Which fraction represents the opportunity cost for the United States to produce corn?
A. 60⁄10
B. 10⁄60
C. 20⁄5
D. 5⁄20
Based on the units of corn and diamonds produced by the United States, the opportunity cost of producing corn is B. 10⁄60.
What is the opportunity cost of producing corn?The opportunity cost of producing corn to the United States would be the number of diamonds that are given up to make one unit of corn.
This can be found as:
= Units of diamonds / Units of corn
= 10 / 60 diamonds
In conclusion, option B is correct.
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Answer:
B. 10⁄60
Explanation:
Took the test and got it right.
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Warren Enterprises had the following events during Year 1: The business issued $25,000 of common stock to its stockholders. The business purchased land for $17,000 cash. Services were provided to customers for $21,000 cash. Services were provided to customers for $10,000 on account. The company borrowed $21,000 from the bank. Operating expenses of $17,000 were incurred and paid in cash. Salary expense of $1,300 was accrued. A dividend of $9,000 was paid to the stockholders of Warren Enterprises. Assuming the company began operations during Year 1, What is the amount of retained earnings as of December 31, Year 1
The amount of retained earnings as of December 31 is, 2500.
Cash revenue 21,000.
Credit revenue 10,000.
Total revenue 31,000.
Cash operating expenses 17,000 .
Accrued expenses 1,300 .
Total expenses (18,300).
Net income 11,500.
Net income - Dividends = Retained Earnings.
= 11,500 - 9000
Retained Earnings = 2500.
What is retained earnings ?The amount of profit a business keeps after paying all of its direct and indirect expenses, income taxes, and dividends to shareholders is known as retained profits. This is the percentage of the company's equity that may be utilized, for example, to fund the purchase of new machinery, research and development, and marketing.What is retained earning with example?22 October 2020 The total profits left over after a corporation pays dividends to its shareholders are known as retained earnings. These funds might be put back into the company by, say, buying new machinery or paying off debt.How do I calculate retained earnings?In order to compute retained earnings, first discover the common stock line item on your balance sheet. Then, take the total stockholder equity and remove the amount for the common stock line item (if the only two items in your stockholder equity are common).Learn more about retained earnings here:
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During its first year of operations, Martinez Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 25,800 shares for cash at $6 per share. July 1 Issued 54,000 shares for cash at $8 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $6 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $3 per share.
Journalize the transactions par value of $6 per share is, 108000 and no-par with a stated value of $3 per share is, 270000.
What does common stock mean?A security that symbolizes ownership in a firm is called common stock.Common stock owners choose the board of directors and cast ballots for corporate rules.Long-term rates of return are often higher with this type of stock ownership.What is an example of a common stock?For instance, investors will receive $0.50 for each ordinary share they own if a corporation announces a dividend of $10 million and has 20 million shareholders.According to the question:
(a) Journalize the transactions, assuming that the common stock has a par value of $6 per share.D: Cash 154800.
C: common stock 154800.
D: Cash 432000.
C: Common stock 324000.
C: Paid-in Capital in Excess of Par Value-Common Stock 108000.
(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $3 per share.D: Cash 154800.
C: Paid-in Capital in Excess of Stated Value-Common Stock 77400.
C: Common Stock 77400.
D: Cash 432000.
C: Common Stock 162000.
C: Paid-in Capital in Excess of Stated Value-Common Stock 270000.
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___________________ activities include the management of in-store display techniques, shelf-talking, spot demonstrations, personal selling in general, and other point-of-sale methods.
Shelf management activities include the management of in-store display techniques, shelf-talking, spot demonstrations, personal selling in general, and other point-of-sale methods.
At the simplest level, it's a way to manage your existing shelf space for more efficient storage of your products. However, the shelf management system includes merchandising and inventory strategies combined with the appropriate system hardware to organize, inventory, and display products to increase sales.
Some brands have successfully placed their products on the top or bottom shelves. Retailers consider many factors when deciding what products to stock in a particular location. This method is called shelf space management. Brands need to be aware of the needs of retailers and gain a prominent place in the store.
Effective shelving management gives businesses the opportunity to create the right layouts and designs for targeted marketing to get their target audience to buy a particular product.
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The activity known as _____________ entails identifying and thereafter attempting to satisfy the needs/solve the problems of pre-specified segments of prospective or actual customers.
The activity known as Target marketing entails identifying and thereafter attempting to satisfy the needs/solve the problems of pre-specified segments of prospective or actual customers.
What is Target marketing ?Target marketing involves focusing on the potential customer of a particular product and convince them to make a purchase,
In this case, he activity known as Target marketing entails identifying and thereafter attempting to satisfy the needs/solve the problems of pre-specified segments .
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The activity known as Target marketing
What is Target marketing ?
Target marketing is the marketing of products and services to a specific group of customers sharing similar economic characteristics. companies employ this strategy to increase sales of their products.
Hence we can conclude that The activity known as Target marketing
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The market growth rate index is measured by Group of answer choices average growth rate in commercial energy average growth rate in GDP. average growth rate in commercial energy real growth rate in GDP.
the average growth rate in commercial energy real growth rate in GDP is the answer.
Gross domestic product is a monetary measure of the market value of all final goods and services produced by each country during a particular period of time.
GDP measures the monetary value of final goods and services produced in a country during a specific time period (for example, quarter or year), that is, those purchased by the end consumer. It counts all the electricity generated within the boundaries of the country.
We know that GDP in the economy is the monetary value of all final goods and services produced. For example, let's say Country B produces only bananas and back love. Figure%: Goods and Services Produced in Country B In the first year, we will produce 5 bananas worth $ 1 and 5 black labs worth $ 6, respectively.
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Jordan Baker, a top manager at Westinghouse, has recently been put in charge of a new multi-million dollar project. She selects several individuals to participate in this effort and assigns each certain tasks to perform. Furthermore, she has set up a group hierarchy and indicated that all decisions must be routed through this chain of command. Jordan is exhibiting which leadership style
Jordan is exhibiting an Autocratic leadership style.
An autocratic management style is one in which just one person makes decisions and solicits little feedback from the rest of the group.Autocratic leaders do not consider the opinions or ideas of their staff when making judgments or choices; instead, they act according to their own beliefs. Authoritarian, directive, or monothetic are further terms for the autocratic leadership style.The majority of the time, an autocratic leadership style can be detrimental since it can cause group members to feel uncomfortable and fearful of the leader's power. The group members may become demoralized since they are unable to share their thoughts or apply their knowledge or skills in certain situations because the autocratic leader makes decisions on his own with little to no involvement from the subordinates.What is a disadvantage associated with the participative style of leadership?They developed a democratic leadership style through their study, which is now known as the participative leadership theories. However, there are drawbacks to participative leadership, including longer decision-making times, a decreased effectiveness with inexperienced personnel, and potential risks associated with information sharing.What is participative leadership and how will the leader benefit from this?An organization that uses participatory leadership reaps a variety of advantages.You may increase employees' awareness, encourage their contributions, and boost their morale by incorporating them in business decisions.Continue reading if you think your workplace would benefit from this.Learn more about participative style of leadership here:
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______ are designed to supplement personal selling, advertising, public relations, and other promotional efforts by creating enthusiasm for the overall promotional program.
Promotion tools are designed to supplement personal selling, advertising, public relations, and other promotional efforts by creating enthusiasm for the overall promotional program.
A public project means a project planned or implemented by a city or government agency for the construction, reconstruction, maintenance, repair, improvement, or another public purpose of a public facility.
Government Procurement Regulatory Authority (PPRA) means the agency responsible for overseeing government procurement.
Public Property means property provided in a federal, state, local, or irrevocable manner within the scope of IA No. 2002-1 used for right of way or other purposes. However, counties or other public institutions are rented from public institutions to private companies, and assets subject to tax under Section 53340.1 of the Act are taxed and classified according to their use.
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If the price of hand calculators falls from $10 to $9 and, as a result, the quantity demanded increases from 100 to 125, then Multiple Choice demand is price inelastic. demand is unit elastic with respect to price. demand is price elastic. not enough information is given to make a statement about elasticity.
If the price of hand calculators falls from $10 to $9 and, as a result, the quantity demanded increases from 100 to 125, then "demand is price elastic".
What is elastic demand?A demand that is elastic experiences a significant shift in quantity demanded as a result of a price adjustment.
When the amount sought changes little as a result of a price adjustment, the demand is said to be inelastic.
Some properties of price elastic demand are-
If the amount demanded of a product changes more than proportionally as its price rises or falls, it is said to be elastic. In contrast, a product is said to be inelastic if changes in price have minimal effect on changes in quantity demanded.There is a quantity effect that results in fewer units being sold when the price of an elastic good rises, which lowers revenue. The quantity demanded is less responsive to a change in price the lower the price elasticity of demand.There are three main types of price elasticity of demand:
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Protecting yourself from exposure to toxic substances in the workplace is an example of promoting ______ wellness.
Protecting yourself from exposure to toxic substances in the workplace is an example of promoting environmental wellness.
Environmental wellnessEnvironmental wellness is having good health by occupying pleasant, stimulating environments that support well-being. It promotes interaction with nature and also creating an enjoyable personal environment (both in and out of your workspace).
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Blackzim Inc. entered the low-priced digital watch market several years ago. This firm's earnings have been unsteady but might be growing. According to the BCG growth matrix, Blackzim is a
Your question is incomplete. please read below to find the full content.
Blackzim Inc. entered the low-priced digital watch market several years ago. This firm's earnings have been unsteady but might be growing.
The following statement should be considered a true statement regarding product categories:
The list of the product & services should be filtered.
The existed category or the new product category added should be prescribed.
The name in the product category should be added for purchase or sales transactions.
The following information related to the product is:
It is a tangible product that can be seen and touched i.e. computer, or furniture.
It can be an intangible product also that cannot be seen or touched i.e. goodwill, services, etc.
Therefore we can conclude that the above statements should be relevant.
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When convertible bonds are first issued I. the conversion price of the stock is higher than the market price. II. the market price of the stock is higher than the conversion price. III. the coupon rate is higher than if the bond were not convertible. IV. the coupon rate is lower than if the bond were not convertible.
When convertible bonds are first issued
the conversion price of the stock is higher than the market price.the coupon rate is lower than if the bond were not convertible.Why are convertible bonds issued?Convertible bonds are issued by businesses to reduce their debt's coupon rate and postpone dilution. The number of shares an investor will receive in exchange for a bond depends on its conversion ratio. If the stock price is higher than if the bond were to be redeemed, companies can force the conversion of the bonds.
What is a convertible bond?An interest-bearing fixed-income corporate debt asset known as a convertible bond has the option of being converted into a predetermined number of shares of common stock or equity. During the bond's term, the conversion from bond to stock is possible at specific times and is often at the bondholder's option.
What benefits do convertible bonds offer?The interest expense reductions from convertible bonds can be substantial. Convertible bonds often have lower interest rate payments than straight corporate bonds. The conversion option gives investors the chance to profit from gains in stock price, so they accept the reduced interest payments. May 10, 2021.learn more about convertible bonds here https://brainly.com/question/14954723
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A national fast food franchisor filed an action against one of its franchisees, alleging breach of contract. Both parties are corporations. The franchisor alleged that the franchisee had failed to pay the franchisor the requisite percentage of the franchisee's profits as required by the franchise contract. The franchisor timely served on the franchisee corporation a notice of deposition, which named the franchisee corporation as the deponent and which stated that the deposition would inquire into the accounting methods and accounting records of the franchisee corporation. How should the defendant franchisee corporation respond to the fact that the notice of deposition does not name a person to be deposed
The defendant franchisee corporation should respond to the fact that the notice of deposition does not name a person to be deposed by "designating a person who will testify on its behalf about its accounting methods and accounting records".
What is meant by defendant franchisee?The entity or person accused of committing a wrongdoing is known as the Defendant.
The notice of deposition is - "a document directing a witness to appear to answer questions under oath". The notice includes a time and place where the examination is to occur. The notice is sent to all parties in a lawsuit so that everyone involved has been given notice of the event.
For the given case-
The franchisee corporation must choose a witness who will speak on its behalf while testifying about its accounting practices and records. A party may identify the organization in the notice of deposition and specify with reasonable particularity the topics to be covered. The organization should then choose witnesses to give testimony on its behalf.To know more about the deposition, here
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If Toys R Us and FAO Schwartz decided to join to form one company this activity would be called a(n)
Studies show that countries that have independent central banks, such as the Federal Reserve Bank, compared to those that have little or no central bank independence, have lower average rates of ______.
Studies show that countries that have independent central banks, such as the Federal Reserve Bank, compared to those that have little or no central bank independence, have lower average rates of inflation.
The United States of America's central banking system is called the Federal Reserve System. With the passage of the Federal Reserve Act on December 23, 1913, it was established in response to the need for centralized control of the monetary system to prevent financial crises following a string of financial panics.
In the field of economics, inflation refers to an overall rise in the cost of goods and services throughout a nation. Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money.
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A(n) _____ includes the original product plus the extra things needed to increase the value from consumption. a. exemplar product b. unsought product c. augmented product d. secondary product e. complete product
An augmented product includes the original product plus the extra things needed to increase the value from consumption.
An augmented product has been given extra features or services by its seller to set it apart from similar products sold by rival companies. A product can be enhanced by adding extra features or benefits that are not physically present.
Any non-physical components of the product are the augmented product. The augmented product typically comes with things like a warranty and customer service. The augmented product can be a crucial tool for customizing your offering to satisfy the needs of particular customers.
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What must be explained to consumers enrolling in an HMO (Health Maintenance Organization) MA Plan? (Select 3)
They must be told that; To get coverage under the plan, clients must visit participating providers inside the network; otherwise, they will be responsible for the full cost of the service.
Urgent care, emergency care, and renal dialysis treatments are the only exceptions to the provider network requirement. This is further explained below.
What is a health maintenance organization (HMO)?Generally, A health maintenance organization (HMO) is a kind of health insurance plan that offers health care via a network of physicians in exchange for a monthly or yearly charge.
In conclusion, Clients must be informed that they will only be eligible for plan benefits if they get care from in-network participating providers.
There are a few exceptions to having a provider network, and they include urgent care, emergency care, and renal dialysis treatments. More detail about this is provided below.
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