At january 1, 2018, nci industries, inc., was indebted to first federal bank under a $240,000, 10% unsecured note. the note was signed january 1, 2014, and was due december 31, 2019. annual interest was last paid on december 31, 2016. nci was experiencing severe financial difficulties and negotiated a restructuring of the terms of the debt agreement. first federal agreed to reduce last year’s interest and the remaining two years’ interest payments to $11,555 each and delay all payments until december 31, 2019, the maturity date. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: prepare the journal entries by nci industries, inc., necessitated by the restructuring of the debt at: (1) january 1, 2018; (2) december 31, 2018; and (3) december 31, 2019. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round final answers to the nearest whole dollar.)
Answers: 1
Business, 21.06.2019 21:00, myronpacis1128
Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest. the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed. what control allowed the fraud to occur?
Answers: 2
Business, 22.06.2019 02:30, linaaaaa7
Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.
Answers: 1
Business, 22.06.2019 07:10, firdausmohammed80
mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.
Answers: 1
At january 1, 2018, nci industries, inc., was indebted to first federal bank under a $240,000, 10% u...
Mathematics, 18.08.2019 19:00
Mathematics, 18.08.2019 19:00
Mathematics, 18.08.2019 19:00