Into which category does the following balance sheet item fall: Note Receivable (3-month)?
Into which category does the following balance sheet item fall: Note Receivable (3-month)?
Homework Answers
Notes receivable can be classified as a current asset or non-current asset.
In this case, the term period of note receivable is only 3 month. This is a short-term note.
Thus, this note receivable (3-month) would be categorized under current asset section of the balance sheet.
Add Answer to:
Into which category does the following balance sheet item fall:
Note Receivable (3-month)?
Select the balance sheet category where the items given would typically appear. Balance Sheet Category Items...
Select the balance sheet category where the items given would typically appear. Balance Sheet Category Items 1. Machinery 2. Prepaid expenses 3. Patents 4. Equipment Copyright 6. Short-term notes receivable Cash equivalents 8. Plant building
What is a balance sheet? Why is it important for leadership of a healthcare organization to...
What is a balance sheet? Why is it important for leadership of a healthcare organization to monitor its balance sheet? Place an "X" in the appropriate box for each balance sheet item listed below. Note: Some balance sheet items may fall into multiple categories, therefore, choose the most relevant option. Each category below must have only one "X". Short-Term Asset Long-Term Asset Short-Term Liability Long-Term Liability Cash on hand Accounts receivable Equipment Mortgage payable Buildings Current Note due...
Balance Sheet Classifications The following are the typical classifications used in a balance sheet: a) Current...
Balance Sheet Classifications The following are the typical classifications used in a balance sheet: a) Current assets f) Current liabilities b) Investments g) Long-term liabilities c) Property, plant, and equipment h) Paid-in capital d) Intangible assets i) Retained earnings e) Other assets Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. If the item is a contra account (valuation account), place a minus sign before the chosen letter. 10. 1....
Problem 2. See textbook, page 26 - 31. Indicate whether item is on balance sheet (BS)...
Problem 2. See textbook, page 26 - 31. Indicate whether item is on balance sheet (BS) or income statement (LS). If on balance sheet, designate which category [current assets (CA), fixed assets (FA), Current liabilities (CL), long-term liabilities (LL), stockholders' equity (SE). Indicate whether item is om balance sheet (BS) or income statement (IS) If item is on balance sheet, designate category (CA, FA CL, LL, SE) Item . Accounts payable Accounts receivable Accumulated depreciation Administrative expenses Allowance for bad...
From the dropdown box beside each numbered balance sheet item, select the option of its balance...
From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No Item required from the selection choices. Classification Classification Account Title 11. Accounts receivable Account Title 1. Notes receivable (due in 2 years) 2. Interest payable (due in 1 week) 3. Long-term investment in stock 4. Wages payable 6. Prepaid rent 2 months of Rent) 8. Salaries payable 7....
Listed below are a number of financial statement captions. Indicate the following for each item: (1)...
Listed below are a number of financial statement captions. Indicate the following for each item: (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense), and (2) the financial statement on which the item can usually be found (Income Statement or Balance Sheet) A. Asset |- Accounts Receivable (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense) B. Balance Sheet Accounts Receivable (2) the financial statement on which the item can usually be...
3. Calculate the amount of interest revenue on the following notes receivable: a. 6 month note with a principal bal...
3. Calculate the amount of interest revenue on the following notes receivable: a. 6 month note with a principal balance of $10,000 and interest rate of 5% b. 12 month note with a principal balance of $50,000 and an interest rate of 8% C. 24 month note with a principal balance of $100,000 and an interest rate of 10%
1. In which category of drugs does alcohol fall? What are common side effects of alcohol?
1. In which category of drugs does alcohol fall? What are common side effects of alcohol?
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet...
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet shows Assets O The balance sheet shows retained earnings The balance sheet shows that total assets equals to liabilities plus equity Deferred revenue is NOT an item on the balance sheet. Which of the following statement is NOT true? O Current Assets are assets that can be converted into cash in a year or less O Current liabilities are liabilities that needs to be...
Ayayai Corp.’s balance sheet at December 31, 2016, included the following. Note receivable $600,000 Interest receivable...
Ayayai Corp.’s balance sheet at December 31, 2016, included the following. Note receivable $600,000 Interest receivable 22,000 Accounts receivable 1,365,000 Less: Allowance for doubtful accounts receivable 80,000 1,285,000 $1,907,000 The following occurred in 2017. 1. Ayayai made sales of $10,500,000. All sales were credit sales. Ayayai allows some discounts for early payment of receivables and uses the gross method to record sales. 2. Customer accounts of $82,000 were written off during the year. 3. Accounts receivable of $10,600,000 were collected....
Select the balance sheet category where the items given would typically appear. Balance Sheet Category Items 1. Machinery 2. Prepaid expenses 3. Patents 4. Equipment Copyright 6. Short-term notes receivable Cash equivalents 8. Plant building
Balance Sheet Classifications The following are the typical classifications used in a balance sheet: a) Current assets f) Current liabilities b) Investments g) Long-term liabilities c) Property, plant, and equipment h) Paid-in capital d) Intangible assets i) Retained earnings e) Other assets Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. If the item is a contra account (valuation account), place a minus sign before the chosen letter. 10. 1....
Problem 2. See textbook, page 26 - 31. Indicate whether item is on balance sheet (BS) or income statement (LS). If on balance sheet, designate which category [current assets (CA), fixed assets (FA), Current liabilities (CL), long-term liabilities (LL), stockholders' equity (SE). Indicate whether item is om balance sheet (BS) or income statement (IS) If item is on balance sheet, designate category (CA, FA CL, LL, SE) Item . Accounts payable Accounts receivable Accumulated depreciation Administrative expenses Allowance for bad...
From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No Item required from the selection choices. Classification Classification Account Title 11. Accounts receivable Account Title 1. Notes receivable (due in 2 years) 2. Interest payable (due in 1 week) 3. Long-term investment in stock 4. Wages payable 6. Prepaid rent 2 months of Rent) 8. Salaries payable 7....
Listed below are a number of financial statement captions. Indicate the following for each item: (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense), and (2) the financial statement on which the item can usually be found (Income Statement or Balance Sheet) A. Asset |- Accounts Receivable (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense) B. Balance Sheet Accounts Receivable (2) the financial statement on which the item can usually be...
3. Calculate the amount of interest revenue on the following notes receivable: a. 6 month note with a principal balance of $10,000 and interest rate of 5% b. 12 month note with a principal balance of $50,000 and an interest rate of 8% C. 24 month note with a principal balance of $100,000 and an interest rate of 10%
Question 1 Which of the following is NOT true about the Balance Sheet? The balance sheet shows Assets O The balance sheet shows retained earnings The balance sheet shows that total assets equals to liabilities plus equity Deferred revenue is NOT an item on the balance sheet. Which of the following statement is NOT true? O Current Assets are assets that can be converted into cash in a year or less O Current liabilities are liabilities that needs to be...
Most questions answered within 3 hours.
-
A solid, uniform disk of radius 0.250 m and mass 53.7 kg rolls
down a ramp...
asked 1 hour ago -
Given the following table of high speed internet access vs.
annual home income:
Home Income
%...
asked 1 hour ago -
A baseball batter hits a 0.145kg baseball straight up into the
air. The baseball leaves the...
asked 2 hours ago -
An FM modulator is tested using
single-tone baseband signal with frequency of 50kHz and a sprectrum...
asked 2 hours ago -
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 4 hours ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 4 hours ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 5 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 6 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 7 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 7 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 7 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 7 hours ago