Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9% interest per year, how many loan payments must the company make?
A) 15
B) 13
C) 12
D) 19
Answer: A
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Park, Inc purchased merchandise from Jay Zee Music Company on June 5, 2016 . The goods were shipped the same day. The merchandise's selling price was $15,000 . The credit terms were 1/10, n/30 . The shipping terms were FOB shipping point. Park received the merchandise on June 10, 2016 . Park paid the amount due on June 13, 2016. When did title to the merchandise transfer from Jay Zee Music
Company to Park? a. June 10, 2016 b. June 5, 2016 c. June 13, 2016 d. Cannot be determined from the information provided
Authoritative accounting guidance precludes the recognition of some resources as assets and some obligations as liabilities
Indicate whether the statement is true or false
Firms account for leases using either the operating lease method or the capital (finance) lease method. Which of the following is not true?
a. The capital, or finance, lease method treats leases equivalent to installment purchases or sales, where the lessee borrows funds from the lessor to purchase the asset and the lessor recognizes profit at the time of sale. b. The lessee records the leased asset and the lease liability on the balance sheet at the present value of the contractual cash flows at the time of signing the lease. c. The lessee amortizes the leased asset, similar to recognizing depreciation on buildings and equipment. d. The lessee recognizes interest expense on the lease liability, similar to recognizing interest expense on long-term notes or bonds. e. The lessor records the signing of a capital lease differently than if the lessor sold the leased asset for an installment note receivable.
Greater emphasis on health and wellness concerns, greener consumers, and privacy concerns are all ________ that shape consumer values and impact marketing.
A. macroeconomic trends B. competing trends C. generational trends D. social trends E. environmental trends