The bank collected a note payment of $800. the journal entry on the company books would include a?

Answers

Answer 1

The journal entry on the company books for the bank's collection of a note payment of $800 would typically include a credit to the Notes Receivable account.

When a bank collects a note payment on behalf of a company, it means that a borrower has repaid the loan or note to the bank, and the bank has subsequently forwarded the payment to the company. In this scenario, the company needs to record the transaction in its books to reflect the decrease in its Notes Receivable account.

The journal entry would typically include a credit to the Notes Receivable account. By crediting the Notes Receivable account, the company reduces the outstanding balance of the note, as the borrower has made the payment. The credit entry is made to reflect the reduction in the company's assets.

In addition to the credit entry, the company would also need to record a corresponding debit entry to another account, such as Cash or Bank. This entry reflects the increase in the company's cash or bank balance resulting from the collection of the note payment. The debit entry ensures that the accounting equation remains balanced, with the increase in assets (cash or bank) offsetting the decrease in assets (Notes Receivable). The specific account debited would depend on the company's specific circumstances and accounting practices.

Overall, the journal entry for the bank's collection of a note payment of $800 would include a credit to the Notes Receivable account to reflect the reduction in outstanding balance and a corresponding debit entry to the Cash or Bank account to reflect the increase in the company's cash or bank balance.

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Related Questions

can someone help? it's accounting !​

can someone help? it's accounting !

Answers

Answer: i cant see

Explanation:

The Bretton Woods system came into being right after WWI


True
False

Answers

Answer:

False

Explanation:

It came into being in 1944 after world war II. This was created in a conference of all of the World War II Allied nations that took place in Bretton Woods, New Hampshire. The decision was taken to avoid trade wars  between the nations.

Hence, the given statement is false.

Education is the basic requirement for profession.Explain this statement​

Answers

Answer:

The answer is below

Explanation:

Education is considered the basic requirement for the profession because, through education, people get to learn the basic knowledge required to perform a profession.

For example, a medical doctor or physician profession requires education in core biological science subjects such as microbiology, human anatomy, medical rehabilitation, dentistry, etc.

Education gives the professional the knowledge to anticipate, predict, and carry out the right solution to any problem that needs to be solved under his or her profession.

For example, a civil engineer needs education in architectural and engineering drawing to translates the drawing into reality or an actual project.

Education can be regarded as the basic requirement for profession because is gives a room to facilitate learning, or the acquisition of knowledge, skills that is required for that profession.

This is because every profession requires thorough training and basic knowledge which is required to build on for further training.

Therefore, Education can be regarded as the basic requirement for profession.

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Type the correct answer in the box. Spell all words correctly.

What need is influenced by an individual’s personality, culture, and environment?

______ are needs that are influenced by an individual’s personality, culture, and environment, while needs are essential to human life.

Answers

Answer:

WANTS are those needs(things that u don't need that moment like cars etc) which influence one personality, culture and environment.

how is a central bank different from a typical commercial bank

Answers

A central bank is responsible for regulating and overseeing the monetary system of a country, while a typical commercial bank primarily focuses on providing financial services to individuals and businesses.

1. Monetary policy: A central bank has the authority to formulate and implement monetary policy. It controls the money supply, manages interest rates, and monitors economic indicators to achieve macroeconomic goals such as price stability, economic growth, and full employment. Commercial banks do not have the power to set monetary policy.

2. Lender of last resort: In times of financial distress or liquidity shortages, a central bank acts as a lender of last resort to provide emergency liquidity to commercial banks and stabilize the financial system. Commercial banks do not have this function and rely on the central bank for such support.

3. Currency issuance: Central banks have the exclusive authority to issue and manage the country's currency. They regulate the supply of money and ensure the integrity and stability of the currency. Commercial banks do not have the power to issue currency.

4. Regulatory and supervisory role: Central banks have a regulatory and supervisory role over the banking industry. They establish and enforce prudential regulations, monitor the financial health of commercial banks, and ensure compliance with banking laws and regulations. Commercial banks are subject to the oversight and supervision of the central bank.

The key differences between a central bank and a typical commercial bank lie in their roles and functions. While a central bank focuses on monetary policy, currency issuance, acting as a lender of last resort, and regulatory oversight, a commercial bank primarily provides financial services to customers and operates within the framework established by the central bank. The central bank plays a pivotal role in maintaining the stability and soundness of the overall financial system, while commercial banks serve as intermediaries that facilitate banking and financial transactions for individuals and businesses.

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What is one of the biggest challenges when companies are committed to sustainability?.

Answers

Making the business case is one of the biggest challenges when companies are committed to sustainability. As sustainability is the better because it takes the business in a long run.

What are the cause of sustainability of business?

As the modern world, the risk of taking business in a long run becomes difficult because frequently change in technologies and trends of business.

Some challenges of sustainability are Loss of trust in the global corporation, Transparency is the new norm, Rapidly growing inequality, increased hazards and risks to business.

Thus, Making the business case is one of the biggest challenges

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What is the single most important factor in determining the success or failure
of a project?
O A. Communication
B. Schedule
C. Budget
D. Risk
SUBMT

Answers

Answer:

Answer Choice: A. Communication

Explanation:

Communication is the single most important factor in determining the success or failure of a project because the better you explain the project the higher your grade will be so, that will result in your grade being a A or a B so, that will cause you to pass, and the worst you explain the project the lower your grade will be so, that will result in your grade being a C or D or F (or an E depending on how your school grades) so, that will cause you to fail.

Answer:

here

Explanation:

What is the single most important factor in determining the success or failureof a project?O A. CommunicationB.

4. What is a private enterprise system? What four rights are
critical to the operation of capitalism? Why would capital-
ism function poorly in a society that does not ensure these
rights for its citizens?
1

Answers

The four rights that are critical to the operation of capitalism are:

the right to own private property, the right to own a business and keep all that business's profits, the right to freedom of choice,  the right to freedom of competition.

The main reason why capitalism would function poorly in a society that does not ensure these rights for its citizens is that they would not be able to do business in a free way.

What is a private enterprise system?

This refers to the capitalist, market-based economy, rather than a command economy

Hence, we can see that The four rights that are critical to the operation of capitalism are:

the right to own private property, the right to own a business and keep all that business's profits, the right to freedom of choice,  the right to freedom of competition.

The main reason why capitalism would function poorly in a society that does not ensure these rights for its citizens is that they would not be able to do business in a free way.

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What are some ways that the Federal Reserve can affect your own financial decisions?

Answers

The Federal Reserve, as the central bank of the United States, can affect individual financial decisions in a number of ways:

Interest rates: The Federal Reserve has the power to set interest rates, which can have a significant impact on borrowing costs for individuals. Higher interest rates can make it more expensive to take out loans or carry credit card debt, while lower rates can make borrowing more affordable.

Inflation: The Federal Reserve also monitors and manages inflation levels in the economy. High levels of inflation can erode the value of savings and investments, while low levels of inflation can provide a more stable economic environment.

Economic growth: The Federal Reserve's monetary policies can impact the overall state of the economy and job market, which can affect individual financial decisions such as whether to invest in stocks or real estate.

Bank regulation: The Federal Reserve regulates banks and financial institutions, which can impact the availability and cost of credit, as well as the overall stability of the financial system.

Overall, the Federal Reserve plays a significant role in shaping the economic environment in which individuals make financial decisions, which can impact everything from borrowing costs and investments to job opportunities and overall financial stability.

~~~Harsha~~~

which of the following five scenarios illustrate markets in action? (i) you rent a book at the university bookstore. (ii) you bargain at a street stall. (iii) you mow your own lawn. (iv) you get a manicure at a nail salon. (v) you grow your own vegetables and consume them yourself. (i), (ii), and (iii) (iii) and (v) (i), (iii), and (v) (i), (ii), and (iv)

Answers

Borrowing books at the university bookstore, haggling at the stalls, buying manicures at the nail salon, they all work at the market.

In open markets, prices are free to move in response to changes in supply and demand, redistributing resources to the most valuable uses. Market equilibrium, a state of equal supply and demand, results from predictable responses of buyers and sellers to price incentives.

Manufacturers, wholesalers, and retailers all sell and purchase goods on markets. Stores, malls, and the internet are a few examples of this. The phrase may also be used to describe a big group of people that buy products or services. Usually, market players engage in rivalry with one another.

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2. How important it is to create a prototype before launching a certain product in the market? What is the
relevance of it in your life as a student? Pa help asappppp

Answers

It’s very important because when you make a prototype you get to see what you’re product will look like, you’ll get a better visual understanding

The introduction of a union into an industry
a.raises wages and employment in that industry.
b.lowers wages and employment in that industry.
c.lowers wages and raises employment in that industry.
d.raises wages and lowers employment in that industry.

Answers

Answer:

Option A (Raises wages and employment in that industry)

Explanation:

A union is a group of people from a specific profession that protests/voices their opinions, concerns, and/or matters that they think are necessary for them to stay in that specific profession.

Labor unions give workers the power to negotiate for more favorable working conditions and other benefits through collective bargaining. Union members earn better wages and benefits than workers who aren't union members. On average, union workers' wages are 28 percent higher than their nonunion counterparts.

What other cost categories are not reflected in the budget above? And how much do you estimate they will cost
you per month?

 What other cost categories are not reflected in the budget above? And how much do you estimate they

Answers

The correct answer to this open question is the following.

Although there are no options attached we can say the following.

The other cost categories that are not reflected in the budget above are the following.

Monthly internet subscription, recreational center, laundry, school expenses, entertainment, home supplies, and drugstore. (which include, cream, shampoo, soap, toothpaste, etc.)

And how much do you estimate they will cost?

Monthly internet subscription $15

Recreational Center $25

Laundry $30

School expenses  $20

Entertainment $100

Home supplies $25

Drugstore (which include, cream, shampoo, soap, toothpaste, etc.)  $50

The key here is not only to have a good budget but respect it and follow through. Otherwise, you will have problems at the end of the month trying to make ends meet.

assume that you convert $25,000 into mexican pesos, and immediately afterwards you convert them back into us dollars. the bank offered you a bid-ask quote of 0.1245-95. the dollar amount you lost in this round trip transaction is about:

Answers

Answer:bejkwhrkueahu

Explanation:

managers using their power, personality, influence, and communication skills to coordinate people and groups so their activities are in harmony defines .

Answers

Leading defines that managers use their power, personality, influence, and communication skills to coordinate people and groups so their activities are in harmony.

It is considered important for managers to lead their subordinates. Leading basically involves influencing others through direction, inspiration, and motivation toward the achievement of organizational objectives. It defines that manager use his power, communication skills and personality to influence other to achieve the desired goals.

Leading involves assembling and arranging resources. Leadership involves the coordination of people towards a common goal of business. Leading ability of leaders enhances the performance of employees. Leaders or managers also influence individuals and their behavior.

Effective communication skills are also considered an important leading quality of managers that allows the managers to transmit their desires to their subordinates. Effective communication is also helpful to encourage employees to perform well and achieve the goals of the organization.

Therefore personality influence and communication skills are important leading qualities for managers.

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How do you give brainliest?

Answers

Answer:

you press the crown

Explanation:

Answer: you have to wait a lil bit then get back on the question you answer then it'll show a crown in the side of you screen and press it if you want to

Explanation:

fernando is mapping out his time using the 3-step process to complete his business project on marketing to millennials. which stage in the 3-step process should he dedicate the majority of his time to? a. writing b. planning c. perfecting d. all three steps should use equal time.

Answers

B) fernando is mapping out his time using the 3-step process to complete his business project on marketing to millennials. the 3-step process should he dedicate the majority of his time to planning.

There are typically three fundamental processes involved in writing a letter's content:

Step 1:Planning : Determine your reader's identity, decide what information you want them to know first (your statement of purpose), decide what other information they should know, and decide whether or not you want them to take action.

Step 2: Writing:  a. Create an outline that enumerates the key points and facts that each paragraph will support. b. Utilize your outline to draft the initial version of your letter.

3rd step: editing : Edit your letter to ensure that it is clear, contains all required details, and presents your thoughts logically. b. Make any necessary adjustments. b. Check your letter one again for spelling, grammar, and punctuation errors. d. Make any adjustments required.

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General Mills began losing market share for​ Go-gurt when its biggest competitor began to focus on​ kids' yogurt. Which step of the market research process does this statement best correlate​ with?

a. Analayzing data

b. Data collection

c. Choosing the data collection method

d. Analyze and interpret the data

Answers

Answer:

b. Data collection

Explanation:

General Mills is only at the first stages of the market research process, which include: diagnosis of the problem, definition of the problem, and data collection.

General Mills has found that it's lost market share to its biggest competitor because the competitor decided to focus on a particular type of yogurt. This is Data collection.

Harris tree owns and operates a gaming center and completed the following transactions during April 2021, its first month of operations. Journalize the transactions

Answers

Recording the date, the accounts you're debiting or crediting from, and a short description of the transaction itself are all parts of keeping track of all your commercial transactions, or journalizing them.

How do you Journalize and post transactions?

A business transaction is journalized when it is recorded in accounting records. Maintaining records calls for commitment and knowledge, especially for accountants. Every business process is documented chronologically in a journal, commonly referred to as a Book of Original Entry.

Identifying the account as well as the type of account is the first step. Choosing whether each account increases or decreases is the second stage. The third step is to journalize the transaction. Accumulated depreciation is the entire amount of depreciation and amortisation that has been applied to an asset since it was first used.

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guess a number between 1-20

Answers

Answer:

17

Explanation:

I would pick 5 just because its my lucky number not to mention it’s a popular number so it would probably be the answer. If not 5 then probably 15z

Nations who borrow from abroad to support current consumption:
A) will always sacrifice current consumption.
B) will always be better off in the future.
C) will always sacrifice future consumption.
D) may sacrifice future consumption.
E) none of the above

Answers

Answer: D) may sacrifice future consumption.

Explanation:


If the marginal benefit of the first donut is 30, the marginal benefit of the second donut is 15, and the marginal benefit of the third donut is 10,
what is the total benefit from eating 2 donuts?

Answers

Answer:

45

Explanation:

Marginal benefit is the additional satisfaction gained from consuming an additional unit of the good. It refers to the advantage associated with the consumption of one more unit of a product. The total benefit is total satisfaction derived from the consumption of goods and services.

The total benefit of consuming two doughnuts is the sum of consuming the first two doughnuts.

= 30 +45

=45

Which of the following statements is true about strategic alliances?​ 1. ​Strategic alliances usually lead to one of the firms losing their relational advantage. 2. ​In strategic alliances, companies may choose to cooperate at any stage along the value chain. 3.​Strategic alliances exclude functions that are bought through bidding. 4.​In strategic alliances, the power to make decisions is always evenly distributed amidst the firms.

Answers

The statement that is true about strategic alliances is Option 2. "In strategic alliances, companies may choose to cooperate at any stage along the value chain."

The cooperation among firms can be done in many ways like strategic alliances. Strategic alliances are agreements between two or more businesses to collaborate on a project or a series of projects while retaining their independence as separate business entities. These types of alliances are common in areas such as research and development, production, marketing, and distribution. The idea of strategic alliances is to combine resources and expertise to achieve a common goal that will benefit all parties involved.

Alliances are not limited to businesses operating in the same industry or sector, but they can include complementary businesses or those with different strengths or weaknesses that can help fill gaps in the partnership. The power to make decisions is not always distributed evenly amongst the firms. It is possible that one firm may have more decision-making power than the others. The decisions that each partner can make, as well as the extent of their control over the project, will be specified in the alliance agreement.

Furthermore, a strategic alliance can occur at any point along the value chain. Companies might choose to collaborate on anything from product development to distribution. Strategic alliances have the potential to improve operational efficiency, reduce costs, and expand markets. They can also provide opportunities for businesses to share risks and rewards and gain access to new markets or technologies. Therefore, the correct option is 2.

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2. If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)

Answers

The correct answer to this open question is the following.

Although the question does not provide any context, references, or give options, we can say that if changes happen during September or October, the expenses you will be able to change most easily are according with the provisions projected in the annual plan, the budget, compared with the monthly expenses.

That is why a company has to elaborate on a good financial plan and overseeing the projections and true sales of the marketing and sales plan. This is important to take the proper control of expenses and revenues. Depending on the volume of sales during September and October, you can decide what kind of changes or adjustments to make in the following months.

Answer:

I would be able to change the variable expenses most easily. Such as food, clothing, and discretionary spending.

I could make the change by

Budgeting in October:

food from spending -$70 back to -$60

cut clothes off since I bought some already from -$40 to $0

budget my discretionary spending from -$60 back to -$40

This would increase my savings to $230

True or False
( ) Structural models often derive from economic models but may also be obtained from informal reasoning.
( ) Considering the model y=a+bx+uy=a+bx+u, consistent estimation of the parameter bb relies on the following condition: C[x,u]=0C[x,u]=0.
( ) Considering the model y=a+bx+u, a simultaneity problem arises when y and x are jointly determined.
( ) In a multiple regression a sufficient condition for consistently estimating the model parameters is the absence of exact linear relationships among the explanatory variables.

Answers

( ) Structural models often derive from economic models but may also be obtained from informal reasoning.True

( ) Considering the model y=a+bx+u, consistent estimation of the parameter b relies on the following condition: C[x,u]=0.False

( ) Considering the model y=a+bx+u, a simultaneity problem arises when y and x are jointly determined.True

( ) In a multiple regression, a sufficient condition for consistently estimating the model parameters is the absence of exact linear relationships among the explanatory variables.True

The first statement is false. Structural models in economics are typically derived from economic theories and formal reasoning, rather than informal reasoning. These models aim to explain the relationships between various economic variables and the underlying economic mechanisms. They often involve the specification of mathematical equations that represent the behavior of economic agents and the interactions among them.

The second statement is true. In the model y = a + bx + u, consistent estimation of the parameter b relies on the condition C[x, u] = 0. This condition, known as the orthogonality condition, implies that the error term u is uncorrelated with the independent variable x. If this condition holds, it ensures that the estimated coefficient b is unbiased and consistent.

The third statement is true. A simultaneity problem arises when both the dependent variable y and one or more independent variables, such as x, are jointly determined. In this case, there is a feedback loop between y and x, making it difficult to disentangle the causal relationship between them. Simultaneity problems often require specialized estimation techniques, such as instrumental variables, to obtain consistent parameter estimates.

The fourth statement is also true. In multiple regression, a sufficient condition for consistently estimating the model parameters is the absence of exact linear relationships among the explanatory variables. This condition is known as multicollinearity. When exact linear relationships exist, it becomes impossible to uniquely determine the contribution of each variable, leading to estimation problems. To avoid multicollinearity, it is important to ensure that the explanatory variables are linearly independent or to employ techniques such as variable transformation or variable selection.

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Raymond’s grandfather recently passed away. He left Raymond $1,000,000 in his will. Raymond’s lawyer tells him not to spend all $1,000,000 because he will owe some of it to the government. Why is this MOST likely true?


A. Raymond will have to pay inheritance tax.


B. Raymond will have to pay real estate property tax.


C. Raymond will have to pay excise tax.


D. Raymond will have to pay estate tax.

Answers

Answer:

Raymond will have to pay inheritance tax.

Explanation:

When you receive money or property from a decedent's estate, you are required to pay an inheritance tax, which is a type of state tax. In contrast to the federal estate tax, the property's beneficiary is in charge of paying the tax, not the estate. Only six states have inheritance taxes as of 2022.

Explain about the inheritance tax?

For federal tax reasons, whether you inherit money, investments, or property, inheritances are not regarded as income. However, unless they come from a tax-free source, any further earnings on the inherited assets are subject to taxation.

There is no federal inheritance tax, which is a charge on the total amount of assets a person inherits from a decedent. For 2021 and 2022, however, estates worth more than $11.7 million and $12.06 million, respectively, are subject to a federal estate tax. Only the portion of an estate that exceeds such sums is subject to tax.

If you leave a home, vacate, and live in another place for seven years, there is typically no IHT to pay.

The answer is Raymond will have to pay inheritance tax

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What is your major(potential) in college?

Answers

going to school for my asn, getting my rn and bsn! i want to work in emergency medicine and when i get too old for that ill work in womens health

LaBouche Company had cash receipts from customers in 2017 of $142,000. Cash payments for operating expenses were $97,000. Kelly has determined that at January 1, unearned service revenues was $13,000, and prepaid expenses were $17,500. At December 31, unearned service revenues was $18,600, and prepaid expenses were $23,100. The service revenues on cash basis is:


Select one:
a. $155,000
b. $147,600
c. $142,000
d. $136,400​

Answers

At the end of the year, prepaid expenses were $23,100 and unearned service revenues were $18,600. The service's cash basis revenues total $136,400.

$142,000 plus $97,000, or $136,400, is the service revenue on a cash basis.

Revenue is the money made from regular business operations and is calculated by multiplying the average sales price by the quantity of units sold. In order to calculate net income, costs must be deducted from the top line (or gross income) figure. On the income statement, revenue is also known as sales.

A company's revenue is the money generated by its operations. Depending on the chosen accounting approach, there are several ways to compute revenue. Sales made using a credit card will be counted as revenue for products or services that were delivered to the customer. In accordance with some regulations, revenue is recorded even if payment has not yet been made.

To determine how effectively a business collects unpaid debt, it is important to review the cash flow statement. Contrarily, sales will only be recorded as revenue in cash accounting after money has actually changed hands. A "receipt" is money given to a business. An example of an activity that results in a receipt but no revenue is when a consumer prepays for a service or undeliverable products.

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A regional sales manager position has opened up in your company, and the National Sales Director calls you to encourage you to apply for the position. The position would require significant international travel. Since you've recently adopted a child, the idea of international travel isn't appealing. According to _____ theory, you will not be motivated by the National Sales Director's suggestion.

Answers

Answer: test

Explanation:

In accordance with Maslow's theory, i will not be motivated by the National Sales Director's suggestion.

The Maslow theory is a psychological theory which explains the 5 needs that must be possess by individual's for proper motivation.

This hierarchy of needs is very to organizational theory because they helps to understand and induce human motivation.

Since the new position will not help me to fulfill my imminent need of taking proper care of my adopted child, then, the position will not be considered by me.

Therefore, in conclusion, the Option A is correct because i will not be motivated by the National Sales Director's suggestion according to Maslow's theory,

The missing options includes "a. the two-factor b. Maslow's c. equity d. Hawthorne's e. expectancy."

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HELP A GURL OUT! Imagine that you are a manager in a restaurant. Each month you have to purchase supplies for the restaurant. A meat supplier offers you a kickback of 10% if you purchase meat from him, even though his prices are slightly higher than the competitors. What would you do? Why?
PLZ ANSWER I NEED HELP!!!

Answers

Answer:

Decline the offer

Explanation:

I would most likely decline the offer. The fact that he is selling for higher but is willing to go 10% proves the meat isn’t worth the more money. I would stick with my current supplier. Unless there is a significant difference between the meats, there is no reason for him to be selling it any higher than his competitors and the fact that he is offering a discount proves that.

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