The Creative Electronics Company shows the following selected adjusted account balances as at December 31, 2017: $110,000 151,000 Accounts Payable Salaries Payable Accumulated Depreciation, Equipment Estimated Warranty Liability Mortgage Payable Notes Payable, 6 months 38,000 33,000 290,000 36,000 Required: Prepare the current liability section of Creative's balance sheet. $50,000 in principal is due during 2018 regarding the mortgage payable. CREATIVE ELECTRONICS COMPANY Partial Balance Sheet December 31, 2017 Current abilities:

Q: What is make-whole provision?

A: A call provision helps the issuer of the bond to call back or repurchase the bond at any time before…

Q: How is ARR calculated?

A: ARR: Accounting Rate of Return (ARR) is the rate of return earned on the investment made in a…

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: Define value chain.

A: Value Chain: Value Chain is the combination of activities including all the costs to do such…

Q: What are ADRs?

A: Answer: An American depositary receipt (ADR) is a negotiable asset that denotes a non-US company…

Q: Explain NAREIT Index?

A: NAREIT Index Rate: It implies the compound dividend yield which is communicated as far as a yearly…

Q: Describe the PW method?

A: There are different types of methods for comparing the worthiness of the projects. Some of the tem…

Q: What is PNL?

A: The term PNL is used in accounting, finance, and business to refer profit and loss.

Q: What is GAAP and how does it work

A: The accounting is based on various principles that are defined by GAAP or IFRS.

Q: Whatisthedifferencebetweensimpleinterestandcompoundinterest?

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: Explain put option

A: Introduction: This question is related to the concept of financial derivatives. Derivative…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: Define risk

A: Risk can be defined as whenever there are chances that the investments’ actual outcomes are…

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is