(1) Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash. To discuss: The total amount of company −A future payment for unconditional purchase obligation.

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Answer 1

Question

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

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Students have asked these similar questions

The Field Detergent Company sold merchandise to the Abel Company on June 30, 2016. Payment was made in the form of a noninterest-bearing note requiring Abel to pay $85,000 on June 30, 2018. Assume that a 10% interest rate properly reflects the time value of money in this situation. Required: Calculate the amount at which Field should record the note receivable and corresponding sales revenue on June 30, 2016.

On January 2, 2017, Adani Inc. sells goods to Geo Company in exchange for a zero-interest-bearing note with face value of $11,000, with payment due in 12 months. The fair value of the goods at the date of sale is $10,000 (cost $6,000). Prepare the journal entry to record this transaction on January 2, 2017. How much total revenue should be recognized in 2017?

On January 1, 2016, The Barrett Company purchased merchandise from a supplier. Payment was a noninterestbearing note requiring five annual payments of $20,000 on each December 31 beginning on December 31, 2016, and a lump-sum payment of $100,000 on December 31, 2020. A 10% interest rate properly reflects the time value of money in this situation. Required: Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1, 2016.

Answer 2

Question

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Answer 6

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

Answer 7

Chapter 3, Problem 1AA

To determine

(1)

Unconditional purchase obligation means it’s an obligation to supplier that the company pays the amount in future &this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To discuss:

The total amount of company −A future payment for unconditional purchase obligation.

Answer 8

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

Answer 9

To determine

(2)

Unconditional purchase obligation means it’s an obligation to the supplier that the company payable the amount in future this amount is not be fixed. This amount payable against the purchase of goods and delivery always before the payment of cash.

To compute:

The ratio of unconditional purchase for future payment and total liabilities.

Answer 10

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Answer 11

To determine

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Answer 12

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Answer 13

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Answer 14

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Answer 15

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Solution Summary: The author compares the results of the ratio of unconditional purchase for future payment and total liabilities.

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(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.

Want to see the full answer?

Chapter 3 Solutions

Solution Summary: The author compares the results of the ratio of unconditional purchase for future payment and total liabilities.

Videos

(3) Accounts payable ratio shows that how much time taken by the company for payment the accounts payable. In this question compare the result with future payment and accounts payable. To compute: Comparison of the results of two ratios either greater or less.

Want to see the full answer?

Chapter 3 Solutions

(3)

Accounts payable ratio shows that how much time taken by the company for payment the accounts payable.

In this question compare the result with future payment and accounts payable.

To compute:

Comparison of the results of two ratios either greater or less.