2. A company has the following liabilities as of December 31: Accounts payable $150,000 Notes payable (current portion) 217,000 Salaries and wages payable 55,000 Installment notes payable 1,140,000 Interest payable 32,000 Payroll taxes payable 15,500 What is the amount of total current liabilities reported on the balance sheet

Answers

Answer 1

The amount of total current liabilities reported on the balance sheet equals $469,500.

Current liabilities entails set of amount or responsibility owed within an accounting period.

Particulars                                       Amount

Accounts payable                          $150,000

Notes payable (current portion)    $217,000

Salaries and wage payable           $55,000

Interest payable                             $32,000

Payroll taxes payable                     $15,500  

Total current liabilities                  $469,500

Therefore, the amount of total current liabilities reported on the balance sheet equals $469,500.

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Related Questions

how are the market and enterpreneurship related with each other?​

Answers

Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. The process of acquiring and retaining customers is at the core of marketing.

Further, marketing provides an effective vehicle for achieving entrepreneurship within the corporation. As some have argued, marketing is the home for the entrepreneurial process. As a process, a firm's entrepreneurial orientation has three key dimensions: innovativeness, risk taking, and proactiveness.

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why having business is important?

Answers

Owning and running your own business can be more satisfying and fulfilling than working for someone else

A response strategy requires suppliers be selected based primarily on A. being willing to share information. B. capacity, speed, and flexibility. C. cost. D. product development skills.

Answers

Answer:

D

Explanation:

Hope this helps

the legal contract between the bondholders and the issuer is called the bond ______.

Answers

The legal contract between the bondholders and the issuer is called the bond indenture.

A bond indenture is important as it helps to protect the interest if the stakeholders and also lowers the chance of default.

It should be noted that the indenture list provides the details of a bond. It helps in ensuring transparency. Therefore, the legal contract between the bondholders and the issuer is called the bond indenture.

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what are herbal plants

Answers

Answer:

Medicinal plants, also called medicinal herbs, have been discovered and used in traditional medicine practices since prehistoric times. Plants synthesise hundreds of chemical compounds for functions including defence against insects, fungi, diseases, and herbivorous mammals.

Marijuana is one lol

The ________ ratio indicates whether a firm will be able to meet interest obligations due on outstanding debt

Answers

Answer:

The , Television, ratio indicates whether a firm will be able to meet interest obligations due on outstanding debt.

fit living has just opened a new fitness club uptown. the company wants to encourage people to try out the club for a week before signing up for membership. since the club is new in the area, the most effective way to promote the free trial is through

Answers

The most effective way to promote the free trial is through an Informative advertising.

An Informative advertising refers to an advert that is done to inform the people of the goods or services strengths rather than trying to convince customers to buy them.

The company should use the Informative advertising to encourage people to try out the club for a week because it is more factual and detailed

Therefore, the most effective way to promote the free trial is through an Informative advertising.

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a mattress manufacture paid its retailer, bed head, a sum of money to have bed head feature its mattresses in its weekly advertising flyers, radio spots, newspaper ads, and email campaigns. this is an example of a manufacturer giving ________ to its retailer.

Answers

The example stated in this question where mattress manufacture paid its retailer as well as bed head so that some features can be added to his mattress for advertisement is Personal allowances.

Personal allowances can be regarded as final deductions that is removed from the individual taxpayer's net income so that they can get the taxable Income.

Good example is demonstrated in the question whereby the mattress manufacture paid its retailer and the bed head.

Therefore, the correct term is Personal allowances .

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which statement best illustrates the history of the fractional banking system?

Answers

Answer:

A goldsmith accepts deposits of gold and issues paper receipts in excess of the amount of gold held; reserves are a fraction of the money supply.

Explanation:

When renting an apartment, in addition to the first month's rent, the amount to move-in often requires the last month's rent as well as a security deposit. The rent is $725 per month and the security deposit is $900. How much money must be paid to the apartment management to be able to live in the apartment the first year? Assume that the renters moved out at the end of the first year. A. $9,425 b. $9,600 c. $10,325 d. $11,050.

Answers

Answer:

B/9600 yw

Explanation:

Gossip and rumor in an organization are part of the ________, which itself is a type of ________ communication channel. Multiple Choice organizational chart; informal grapevine; informal grapevine; external organizational chart; external

Answers

Gossip and rumor in an organization are part of the Grapevine, a type of Informal communication channel.

This is because a Grapevine is a form of an informal communication channel in a business organization. In this way, the information can be diffused from any level, either from bottom to top or top to bottom.

The information passed is usually in the form of gossip and rumor. It does not have official backing or formal approaches such as through emails of the business firm or signed and stamped letters.

Hence, in this case, it is concluded that the correct answer is Grapevine; and informal.

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For the underwriting of a municipal bond issue, competitive bids are submitted by underwriters as A) a best efforts underwriting commitment. B) a standby underwriting commitment. C) an all-or-none commitment. D) a firm commitment.

Answers

B a standby underwriting commitment.

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Use these words to answer the questions:
raw material, social, decision making, economic, labour, unemployment, personalized ​

Answers

unemployment, decision making, personalised, social, raw material, economic

as the aggregate price level in an economy decreases,

Answers

Answer:

imports decrease

Explanation:

What are the purposes of financial regulations? Choose three answers. To make business competitive to enforce government intervention to limit and prevent monopolies to allow businesses to collaborate to ensure only one business can operate to place regulations on prices.

Answers

The purposes that financial regulations serves are:

to make business competitiveto limit and prevent monopoliesto place regulations on prices

Financial regulations can be regarded as the body that oversee the behavior of the those involve in the market.

The carry out different activities such regulations on prices so that consumers and producer can enjoy the market.

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Answer:

A,C,F

Explanation:

Maya Stuhlbarg, director of marketing for Rheinhold Industrial Products, complains to her advertising director that the continuing slump in orders has apparently been perpetuated by the firm's failure to have the necessary advertising expenditures. Based on this information, Rheinhold is most likely using the ____ approach to determine its advertising expenditures.

Answers

Rheinhold is likely using the percentage of sales approach, which is used to budget advertising expenses according to a fixed percentage based on a budget period.

The percentage of sales approach occurs when each expense for a past or current period is converted as a percentage of net sales and applied at the forecast sales level.

Therefore, while this is an effective method for advertising budgets, the percentage of sales can be based on fixed expenses and balance sheet items that do not correlate with sales.

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Products that cost a lot of money but that people buy anyway because of the status and exclusivity that they project to others are called

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Products that cost a lot of money but that people buy anyway because of the status and exclusivity that they project to others are called prestige products.

Prestige products are products that are of a high quality, high value and costly which are often purchased by people because of the benefit they will derived from it.

Most people tend to buy prestige products in order to increase their status in the society and they will often go for the product without minding how costly the product are.

Example of prestige product is buying a luxury car or items such as wrist watch that are very expensive.

Inconclusion products that cost a lot of money but that people buy anyway because of the status and exclusivity that they project to others are called prestige products.

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Which change should she make in her outline?
O change step 2 to “click the format tab”
O change step 3 to “open chart title dialog box “

O change step 4 to “type in the chart title”

O change step 5 to “add the chart title”

Answers

Answer:

A

Explanation:

Answer:

B

Explanation:

The payroll taxes the employer is responsible for​ are:
A.
FICA-Medicare.
B.
FICA-OASDI.
C.
State income taxes.
D.
A and B.

Answers

The employer is responsible for the following payroll taxes in Option D.  A and B.

The FICA-Medicare is a compulsory contribution just like the Social Security (or OASDI) that employers are expected to contribute some percentages and withhold stated percentages from the salaries of their employees.

Thus, the employer is not responsible for Federal and State taxes, but D. A and B.  Employers can only withhold and remit the Federal and State taxes as required by law.

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After a period when prices have been rising rapidly, the Federal Reserve tightens credit and over a period of 2 years, the inflation rate falls from 4% to 2%. This is an example of:

Answers

Answer:

Explanation:

This is supposed to represent what is going to happen,, it's an impossible dream. The question simply does not imply.

However if we live in Oz then this is an example of using interest rates to lower inflation.

A company's ____________ are the priorities, principles, and beliefs that guide the company. A. Strengths B. Demographics C. Values D. Opportunities Please select the best answer from the choices provided A B C D.

Answers

Answer:

I would say its C: Values

Explanation: I own three stores and trust me the most important part about a company is the value.

Answer:

c <3

Explanation:

Which concept is NOT basic to definition of economics?
O Choice
O Bartering
O Rational self-interest
O Scarcity

Answers

Answer:

O Rational self-interest

Explanation:

PLEASE HELP
Jane is applying for a job at an in-store job kiosk. What is a benefit of applying for a job this way?

A. Jane can print the application to complete at home.
B. Jane can search for current job openings at the store.
C. Jane can start the application and then come back the next day to complete it.
D. Jane will need home computer access to finish the application.

Answers

A I believe is the correct answer

Answer:

The answer is B

Explanation:

Jane is at the store and can see the job openings.

depreciation expense and amortization expense represent ______ items requiring adjustments to net income under the indirect method.

Answers

Based on the information depreciation expense and amortization expense represent non-cash items.

Non-cash items has to do with expense that does not involve paying cash.

Depreciation expense and amortization expense are non cash item as no cash payment is involve.

Although this expense may be included in a company profit or loss account or net income but they do not have effect on a company cash flow.

Non cash item like depreciation expenses and amortization expense often have effect on a company overall net income.

Inconclusion  depreciation expense and amortization expense represent non-cash items.

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Activities

- Pay Vendors

- Evaluate Vendors

- Inspect raw materials

- Plan for purchases of raw materials

Cost Drivers:

a) Number of different kinds of raw materials

b) Number of classes offered

c) Number of tables

d) Number of employees

What is Cost Drivers ?

A cost driver causes a change in an activity's cost. The idea is most frequently applied to allocate overhead expenses to the quantity of produced units. In order to reduce the cost of overhead, it can also be utilized in activity-based costing analysis to identify the causes of overhead. An activity-based costing system may employ a variety of cost drivers. Just one cost driver should be employed if a company just cares about adhering to the minimum accounting standards to allocate overhead to produced items. Cost drivers include things like the amount of customer interactions, engineering change orders, machine hours consumed, and product returns, as well as the number of direct labor hours performed.

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returnable packaging, use of 3d printing, and flexible packaging are examples of:

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Returnable packaging, use of 3d printing, and flexible packaging are examples of sustainable packaging.

Sustainable packaging simply means the sourcing, development, and use of package solutions which possess minimal environmental footprint and impact.

It should be noted that sustainable packaging is earth-friendly and doesn't lead to the depletion of natural resources. Some examples of sustainable packaging include returnable packaging, the use of 3d printing, and flexible packaging.

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composers in the classical period took middle-class tastes into account by

Answers

Answer: flavoring their serious compositions with folk and popular music, writing comic operas that sometimes ridiculed the aristocracy, writing pieces that were easy for amateur musicians to play and understand

Which accurately describe differences between debit and credit cards.

Answers

Answer:

I did some research, and a debit card is a card that allows you to spend money on something that you got from the bank. Credit card is a card that allows you to borrow money from the card issuer. A credit card issuer is a bank or credit union that provides a credit card directly to the user. Kinda like a consumer. Anyways a credit card allow you to borrow money from the card issuer up to a certain limit in order to purchase items or withdraw cash. I didnt go of anyones word. All I did was do a little research, and this is what I found.

Hope this helps :)

Explanation:

Beck and Carli are married. Carli purchases a condominium near Downhill Ski Resort. Beck and Carli each technically own an undivided one-half interest in the condo. This is a. community property. b. a joint tenancy. c. illegal.

Answers

Based on the fact that both Beck and Carli own an undivided interest in the condo, we can say that this is a. community property

Community property means:

Spouses own half of things acquired in marriage Spouses own these things regardless of who actually bought it

When a marriage abides by community property, each spouse owns half of everything that was acquired in the marriage. This half is however undivided and only comes into play during divorce proceedings.

In conclusion, this condominium is a community property.

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The Big Outdoors, a specialty store that sells adventure sports gear, employs one salesperson per customer. Each salesperson is trained to influence customers to purchase other items related to the products they have purchased. In this scenario, The Big Outdoors is using ______ as its marketing strategy.

Answers

Based on the information given the Big Outdoors is using suggestion selling as its marketing strategy.

Suggestion selling is a marketing strategy that enables customers or buyers to purchase other related products or goods.

Most companies or organizations makes use of suggestion selling to increase sales and to create products awareness.

The salesperson will often use this sales technique on buyers after they might have purchased a product  by suggesting more or other products to the customers that is related to the ones the customers  purchased.

Inconclusion the Big Outdoors is using suggestion selling as its marketing strategy.

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Answer:

B. Suggestion Selling

Explanation:

Took the Test

ERP systems that include administrative, sales, marketing, and HR processes are referred to as _________.

Answers

Answer:

human right department

ERP systems that include administrative, sales, marketing, and HR processes are referred to as ERP II. Thus, option B is correct.

What is an ERP?

ERP is a class of computers that assists firms in managing and automating important company activities for optimum performance. The combined administration of key business operations, frequently instantaneously, is known as ERP (Enterprise resource planning) systems.

The conventional functionality of materials allocation, delivery, and order input is included in ERP II, although it is supplemented by features like customer management (CRM), renewable source planning, among accounting (HRM). One such Erp software can efficiently, precisely, and consistently run a complete business.

Therefore, option B is the correct option.

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The question is incomplete, the complete question is:

ERP II

ERP I

ERP III

ERP IV

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