Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies. Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds. To Indicate: The main difference between notes payable and bonds payable

Question

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Answer 1

Question

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.

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Agni Corporation's net income for the year is $490,000. On June 30, a $0.75 per share cash dividend was declared for all common stockholders. Common stock in the amount of 40,000 shares was outstanding at the time. The market price of Agni's stock at year-end is $18 per share. Agni had a $1,200,000 credit balance in retained earnings at the beginning of the year. Required: Calculate the ending balance of retained earnings. Answer

Answer 2

Question

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.

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Answer 3

Question

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.

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Answer 4

Question

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.

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Answer 5

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.

Answer 6

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.

Answer 7

Chapter 14, Problem 1DQ

To determine

Concept Introduction:

Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.

To Indicate: The main difference between notes payable and bonds payable

Answer 8

Expert Solution & Answer

Explanation of Solution

Explanation:

Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.