Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is December 31, 2018, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting the note. Note Note Face Value Date of Note Interest Rate Date Discounted Discount Rate Proceeds Received1 $56,000 3/31/2018 8% 6/30/2018 10% 2 56,000 3/31/2018 8% 9/30/2018 10% 3 56,000 3/31/2018 8% 9/30/2018 15% 4 120,000 6/30/2018 5% 10/31/2018 10% 5 120,000 6/30/2018 5% 10/31/2018 15% 6 120,000 6/30/2018 5% 11/30/2018 10%

Resources that are valuable but not rare can be categorized asanswers: organizational weaknesses. distinctive competencies. organizational strengths. complementary resources and capabilities.

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is