Explain why records must be kept of the due dates of all notes payable?
The records must be kept of all the due dates of all notes payable because:
#1 So that the day on which the payment is due is known.
#2 to eliminate the possibility of late payments and suffering of
additional interest.
#3 to properly calculate Interest expense and interest payables (if
any)
#4 to have funds on respective dates so that there wont be a case
of 'dishonour' of notes.
Explain why records must be kept of the due dates of all notes payable?
The following is a false statement about notes payable. Explain why it is false. The journal entry to record the issuance of a zero-interest-bearing note payable may include a premium or a discount on the note.
Under employment legislation, what pay and hours of work records must be kept? List and describe at least six types of record.
Explain why we must make the following changes to a proton test for it to land where an electron and positron land? Why must we dramatically decrease an electrical field (Example: from 15 N/C to -27500 N/C) for a proton to land at the same position as an electron when Vo is kept constant? Why must we dramatically decrease Vo values (example: from 600,000ns to 14000ns) for a proton to land at the same position as a positron when electrical...
Ms Ji-Yong has not kept proper bookkeeping records, but she has kept notes in a personal note form of her business transactions as at 31 May 2019. The following transactions relate to financial year ended on 31 May 2018. Bank CR 18 200 Cash DR 1 400 Accounts Receivable and Payable DR 7 800 CR 6 850 Motor Vehicle (Net Depreciation) DR 22 500 Furniture and Fittings at cost DR 16 700 Inventory - 31 May 2018 DR 8 490...
Explain why an opened bottle of carbonated water keeps its fizz longer if kept in a refrigerator than if kept at room temperature
Reasearch: Determine how long medical records must be kept in Connecticut. Remember to include special circumstances such as minors. Research medical record storage options in your state as well. How can someone properly permanently dispose of a medical record? Complete your research and write your findings in a 1-page paper. Make sure to site your sources.
Why would the fair value of notes payable increase and what does that mean for the company who issued the note ? Can you please give an example and explain as simply as possible
What is the present value of a 9 mil notes payable due in 4 years at 12% interest payable annually?
Short term notes payable are? A. are generally due within three months, with a maximum time period of six months B. are shown on the balance sheet with current liabilities C. are shown on the balance sheet after bonds payable D. are shown as a reduction to notes receivable on the balance sheet, with an appropriate footnote disclosure
Notes payable (due in 5 years) Accounts payable Bonds payable (due in 10 years) Machinery $ 5,000 1,500 12,000 6,500 Discount on bonds payable Wages payable Interest payable (due in 2 weeks) Sales tax payable $1,400 700 350 300 Prepare the liabilities section of its classified balance sheet. (Negative amount(s) should be indicated by a minus sign.) WOOHOO CO. Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Exercise...