... Total Short-Term Borrowings 93568 103177 -9.3% 114906 Federal Home Loan Bank Advances 25944 48248 -46.2% 26000 Term Repurchase Agreement 10000 -- n/m 10000 Debt Financing and Notes Payable 15000 26007 -42.3% 15000 Shareholders' ... Westamerica Bancorporation Reports Second Quarter 2012 Earnings
Music, Vocals, Recording, and Lyrics by Andrew Cataldo and Nate Tepper Video and Editing by Jessica Angelos and Rachel Vaselacopoulos Lyrics: Alright, Cathy, This one's for you. Accounting 221, Damn I need an 'A' in this class, I need the dollar dollar, dollar is what I need, hey hey! Well I need the dollar dollar, a dollar is what I need hey hey And I said I need the dollar dollar, a dollar is what I need, And if I share with you my story would you share your dollar with me? Bad times are comin, got some money that I owe, Look at my balance sheet its in notes payable, Its been a long time and the interest might of grown, And I'm looking for somebody to help me pay this loan. I need the dollar dollar, a dollar that's what I need, hey hey! Well I need the dollar dollar, a dollar that's what I need. Well all i know is my liabilities ain't going down, I got a credit balance that's what I found, And all I want - is for someone - to help me! By the end of the year I couldn't pay the loan, So I, Made the adjustment and credited interest payable, On maturity I handed over the dough, It was an operating activity and so I decreased cash flow. Well I need the dollar dollar, a dollar is what I need, hey hey! Well I need the dollar dollar, a dollar is what I need. Well all I know is my liabilities ain't going down I got a credit balance that's what I found, And all I want - is for someone - to help me! What in the world am I gonna to do tomorrow? Is there someone whose dollar that I ...
http://steelgrillrestaurant.com// I Need A Dollar (Notes Payable) - Accounting 221
In the world of business, it is a reality that businesses, whether SMEs or big corporations, sometimes do not have enough resources to purchase goods that they obtain these resources through borrowing, owners' investments, and management operations. These are extended to them by persons or banks, financing companies, and suppliers, and are referred to as payables, liabilities or debt.
In accounting, there are two types of payables, accounts payable and notes payable, and these are reported on a balance sheet as current (short-term) or long-term, based on when they are due to be paid. These payables must be paid within a specific period of time, usually within 12 months or longer.
Here are the points of difference between the accounts payable and notes payable:
Accounts Payable
Accounts payable are short-term financial obligations that exist based on the good faith credit of the business or owner.
Often shorthanded as A/P, Accounts payable arises in the normal course of business when an individual or business receives a product or service before it pays for it. This form of credit that suppliers offer to their customers usually require repayment on specific due dates, usually within 30 days, but do often run past 30 days or 60 days in some situations.
Oftentimes, there are businesses that enable their customers to purchase supplies, commodities or services on an account on credit. In accounts payable, this is true for clients that have been patronizing their products or business for a while and they are already proven to be of good credit risks.
For practical purposes, the major difference between notes payable and accounts payable is that accounts payable are not charged with any interest fees or other charges if they are paid on time. If accounts payable are paid late, however, it is common for an interest charge to be added to the accounts payable payment required.
Accounts payable is one of the largest current liabilities a company will face. This is because they are constantly ordering new products or paying vendors for services or merchandise.
The timing of payments of accounts payable balances are determined by the credit terms of each transaction and the company's ability to take advantage of available discounts.
Examples of accounts payable are amounts due to vendors such as for rent and utilities and from purchases of merchandise or supplies on an account.
In households, examples of accounts payable are ordinarily bills from the electric company, telephone company, cable television or satellite dish service, newspaper subscription, and other such regular services.
Notes Payable
Notes payable represents either short-term or long-term financial obligations to banks or other creditors based on formal written agreements. It involves a written promissory note that a company receives when it borrows money from a lender. This note promises to pay specified dollar amounts that include the amount borrowed, called principal, and interest within a specific period of time. In the agreement, a specific interest rate is usually identified. This specific interest rate and the terms are stated in the promissory note.
Notes payable are usually offered by financial institutions such as banks and financing or credit companies to individuals or businesses wanting to purchase something but do not have enough cash. They come in the form of loans, mortgages, and financing.
Notes payable usually result from companies buying merchandise or property, plant, and equipment or in exchange for cash, goods, services, or other commodities. Find More What is the Difference between Accounts Payable and Notes Payable? Articles
Question by Red: Shared Appreciation Note vs. FHA Mortgage? I am currently in the process of getting a mortgage. I need advice on the benefits and disadvantages of the following two mortgage types. Standard FHA loan - using this loan, my pre-qualified amount will only allow me to purchase a not so nice home in a less than stellar area. However, any and all appreciation in the home will be mine. Shared Appreciation Second Mortgage - using this City funded program, the City will pay up to 60,000 over my FHA approval amount to get me into a nicer home in a good area. Using this option my down payment is minimal. However, the Shared Appreciation Note has a catch. When I sell or refinance the home the City loan becomes payable, as well as 20% of any appreciation the home has gained. So at this point I can either pay more upfront to get into the cheaper home, or I can pay more down the line using the City program to get into a much nicer home. Any thoughts or suggestions? The Shared Note has no time line. There is no minimum time one must remain in the home, and the second mortgage matures at the same rate as the first. In addition, should I do any work on the home, the cost of the work and the an appraisal value the added worth it gives the home will be taken out of the home appreciation prior to the City program factoring their 20%. For example: if I buy a home for 150, using 20k from the City program, & after putting 10k worth of work into the kitchen, the home appraises for an addition 30k at 180k. If when I sell the home it goes for 250K, the home would have appreciated 70k since the original mortgage. Out of that, 30k is due to wortk I put in and as such is mine. From the remaining 40k, the City program would get its initial 20k back plus the 20% = Total of $ 28,000. Best answer for Shared Appreciation Note vs. FHA Mortgage?:
Answer by golferwhoworks
with out knowing all the terms then we have no idea. Some of these appreciation notes are for a much longer time than a normal note and the other thing is they have a time frame in some of them where you cannot for XX =years refi or even sell. Standard FHA always works but be sure what you are signing as trying to get out of a city note down the road can be very hard to do additional It sounds like you have throughly investigated the program but just by making some upgrades may not get you as much added value in this economy so spend that money wisely if you go with the city loan
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