During 2014 carne corporation transferred inventory to nolan corporation and agreed to repurchase the merchandise early in 2015. nolan then used the inventory as collateral to borrow from norwalk bank, remitting the proceeds to carne. in 2015 when carne repurchased the inventory, nolan used the proceeds to repay its bank loan. on whose books should the cost of the inventory appear at the december 31, 2014 balance sheet date? a. carne corporationb. nolan corporationc. norwalk bankd. nolan corporation, with carne making appropriate note disclosure of the transaction

Which part/word/phrase in the passage refers to a business’s financing activity seen in a cash flow statement? nathan works as an accountant in a footwear manufacturing company. he is currently preparing the cash flow statement for his employer. during the given accounting period, the company purchased raw materials worth $25,000. it also bought new equipment worth $75,000 to increase its production output. further, it borrowed a long-term bank loan of $100,000 to facilitate further expansion. finally, the company spent $50,000 on advertising its latest brand of footwear in the market. {lol i guessed its "it borrowed a long-term bank loan of $100,000 to facilitate further expansion" and thats correct}

For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm. b. implicit costs. c. operating costs. d. fixed costs.