The description of the treatment of each contingent liability, arising from the affected December transactions in the financial statements of Tripp are as follows:
1. Dec 5 transaction will be treated as h. footnoted
2. Dec 22 transaction will not be treated as b. not footnoted
3. Dec 27 transaction will be reported as e. liability and expense
4. Dec 31 transaction will be reported as g. liability and expense
Thus, contingent liabilities are disclosed if their amounts can be reasonably estimated and they are likely to occur. They are footnoted if the amounts cannot be reasonably estimated, though they are likely to occur.
Learn more: https://brainly.com/question/23980008
The transactions are in the attachment.
Summarize your results of the personality assessment and how you think these elements might help or hinder you as a leader.
Personality assessment refers to the proficiency in professional psychology that's vital in measuring the personal characteristics of a person.
Personality assessment can also be used in diagnosing psychological problems and screening candidates for college and employment.
Personality assessment is important as it's vital in fueling leadership development. It can also be used by a leader to uncover deep insights about himself or herself.
Read related link on:
https://brainly.com/question/25302961
Question 3 of 10
form from their clients that
Independent contractors receive a
verifies their earnings for the year.
O A. W-2
B. 1099
O C. 1040
D. W-4
Answer:
B. 1099
Explanation:
Answer:B
Explanation: I just got it right
Presented below are various receivable transactions entered into by Beran Tool Company. Indicate whether the receivables are reported as accounts receivable, notes receivable, or other receivables on the balance sheet.
a. Loaned a company officer $5,000.
b. Accepted a $3,000 promissory note from a customer as payment on account.
c. Determined that a $10,000 income tax refund is due from the IRS.
d. Sold goods to a customer on account for $4,000.
e. Recorded $500 accrued interest on a note receivable due next year.
f. Advanced $1,400 to a trusted employee.
Other Receivables
Notes Receivable
Other Receivables
Account Receivable
Other Receivables
Other ReceivablesAnswer:
Explanation:
Answers are,
a. Loaned a company officer $5,000 - Other Receivables
b. Accepted a $3,000 promissory note from a customer as payment on account. - Notes Receivable
c. Determined that a $10,000 income tax refund is due from the IRS - Other Receivables
d. Sold goods to a customer on account for $4,000 - Accounts Receivable
e. Recorded $500 accrued interest on a note receivable due next year - Other Receivables
f. Advanced $1,400 to a trusted employee - Other Receivables
Accounts receivable are line items or a group of line items that appear as assets on an organization's balance sheet. It's the money a company's clients owe for services they've received by haven't paid for yet . For example, when a customer purchases products or services on credit, the amount they owe gets added to the company's accounts receivable. Whereas,
Notes receivable are underlying promissory note that details the terms of payment for a purchase between a company and a customer. Most often, notes receivable appear when a client needs more time to pay for a sale than the conventional billing terms. Agreeing for a slower payment, the company charges interest and requires a signed promissory note for legal purposes.
And, Other receivables include money owed from non-trade activities. Usually, these include small amounts that companies cannot disclose as separate items.
To know more about receivables:
https://brainly.com/question/14032135
#SPJ2
The only accurate statement about consequentalism is:
Answer:
is a class of normative, teleological ethical theories that holds that the consequences of one's conduct are the ultimate basis for any judgment about the rightness or wrongness of that conduct.
A group of investors was polled each week for the last five weeks about whether they were bullish or bearish concerning the market. Construct the market sentiment index for each week based on these polls. (Do not round intermediate calculations. Round your answers to 4 decimal places.) Week Bulls Bears 1 58 63 2 53 68 3 47 74 4 50 71 5 43 78
The market sentiment index [MSI] for each week will be 0.5207, 0.5620, 0.6116, 0.5868, and 0.6446
Week 1
Bulls (a) = 58
Bears (b) = 63
c = a + b = 121
MSI = b/c = 0.5207
Week 2
Bulls (a) = 53
Bears (b) = 68
c = a + b = 121
MSI = b/c = 0.5620
Week 3
Bulls (a) = 47
Bears (b) = 74
c = a + b = 121
MSI = b/c = 74/121 = 0.6116
Week 4
Bulls (a) = 50
Bulls (b) = 71
c = a + b = 121
MSI = b/c = 71/121 = 0.5868
Week 5
Bulls (a) = 43
Bears (b) = 78
c = a + b = 121
MSI = b/c = 78/121 = 0.6446
The market segment index measures the ratio that is between the average volume of the declining stocks and that of the advancing stocks.
Read related link on:
https://brainly.com/question/25241529
You have been seconded to North (Pty) Ltd to assist with the preparation of the group financial statements. Their accountant has recently resigned and they are under pressure to have these finalised for the annual audit. North (Pty) Ltd acquired a 100% interest in South (Pty) Ltd on 1 January 2017 for R125 000. On 1 January 2017, the retained earnings of South (Pty) Ltd was R15 000.
The following Trial Balances, for the year-ended 31 December 2020, were prepared by the accountant prior to his departure.
All the plant of South (Pty) Ltd was purchased during the 2017 financial year.
The carrying amount of goodwill is considered to be equal to its recoverable amount.
Bank
Trial Balance at 31 December 2020
Retained earnings (year-end)
Share capital
(71,000) (45,000)
(200,000) (75,000)
Investment in South (Pty) Ltd
125,000 -
Property, plant and equipment
105,000 85,000
Inventory
38,000 25,000
Accounts receivable
27,000 20,000
25,000 15,000
Accounts payable
Sales
(39,000) (20,000)
(64,000) (55,000)
Dividend Income
(5,000) -
Cost of Sales
34,000 35,000
Operating Expenses
12,000 8,000
Taxation
3,000 2,000
Dividends
10,000 5,000
North (Pty) Ltd South (Pty) Ltd
00
Note: Comparatives are not required.
2
QUESTION 1 – REQUIRED
1.1
1.2
1.3
Prepare the consolidated Statement of Comprehensive Income for the year-ended 31 December 2020.
Presentation
Prepare the Statement of Changes in Equity for the year-ended 31 December 2020.
Presentation
Prepare the assets section only of the consolidated statement of financial position of North (Pty) Ltd and it subsidiary for the year- ended 31 December 2020.
Presentation
Sub- total
9 1
7 1
6
1
Marks Total
Answer:
41 9 1 7 1 6 _ 1 58+02-88=898
In addition to the UFMIP (up-front mortgage insurance premium), the owner-occupant borrower who decides to use an FHA mortgage loan will normally pay an additional annual mortgage insurance premium (MIP) that depends on the loan-to-value ratio and the term of the loan. As of 2019, the MIP ranged from ____________ percentage of the average annual loan balance
As of 2019, the MIP ranged from 0.8 percent to 1.05 percent of the average annual loan balance.
This is usually based on the MIP on a 30-year loan range. Alternatively, the MIP ranges between $800 to $1,050 for every $100,000 borrowed.
The exact amount of MIP to be paid by borrowers depends on the actual amount borrowed and the down payment or equity made.
MIP stands for Mortgage insurance premiums which the Federal Housing Administration mortgage borrowers pay.
Hence, in this case, it is concluded that the correct answer is 0.8 percent to 1.05 percent.
Learn more here: https://brainly.com/question/22490844
One of the fine examples of frugal innovation is the the world’s cheapest car Tata Nano, for which Tata has most likely done __________ segmentation.
Answer:
What is market segmentation
Explanation:
One of the fine examples of frugal innovation is the the world’s cheapest car Tata Nano, for which Tata has most likely done market segmentation.
At its core, market segmentation is the practice of dividing your target market into approachable groups. Market segmentation creates subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience.
Did this help?
Brainly, thank yous, ratings are always appreciated : ) Miss Hawaii
Which of the following is an advantage of conducting business in totalitarian nations
Answer:
INTERNAL COMPANIES
state the law of demand and explain its assumptions
Answer:
The law of demand states that quantity purchased varies inversely with price.
Explanation:
The law of demand states that quantity purchased varies inversely with price.
Answer:
Law of demand explains consumer choice behavior when the price changes.
The law of demand is a fundamental principle of economics that states that at a higher price consumers will demand a lower quantity of a good.
It means while studying the relationship between the price of a commodity and demand for it, the effect of other determinants of demand on it is assumed to be constant
Explanation:
Assumptions:
-The income of the consumer or the buyer does not change
- Price of the goods remain constant
-Tastes, preferences and the fashion of the buyers does not change.
The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet. She has studied three locations. Each would have the same labor and materials costs (food, serving containers, napkins, etc.) of $1.80 per sandwich. Sandwiches sell for $2.50 each in all locations. Rent and equipment costs would be $5,040 per month for location A, $5,560 per month for location B, and $5,730 per month for location C.
Required:
a. Determine the volume necessary at each location to realize a monthly profit of $10,500.
b. If expected sales at A, B, and C are 20,800 per month, 22,000 per month, and 22,800 per month, respectively, calculate the profit of each location.
c. Which location would yield the greatest profits?
Answer:
The selling price per unit (sandwich) is $2.50
The variable cost per unit (sandwich) is $1.80
Contribution margin per unit = Selling price per unit - Variable cost per unit
=$2.50 - $1.80
=$0.70
Target sales volume to achieved at location A
The fixed cost is $5,040 per month
The target profit is $10,500 per month
TargetSales=Fixedcosts+TargetprofitContributionmarginperunitTargetSales=Fixedcosts+TargetprofitContributionmarginperunit
TargetSales=5,040+10,5000.70TargetSales=5,040+10,5000.70
TargetSales=22,200unitsTargetSales=22,200units
The company needs to sell 22,200 units at location A to achieve target profit of $10,500
Target sales volume to achieved at location B
The fixed cost is $5,560 per month
The target profit is $10,500 per month
TargetSales=Fixedcosts+TargetprofitContributionmarginperunitTargetSales=Fixedcosts+TargetprofitContributionmarginperunit
TargetSales=5,560+10,5000.70TargetSales=5,560+10,5000.70
TargetSales=22,943unitsTargetSales=22,943units
The company needs to sell 22,943 units at location B to achieve target profit of $10,500
Target sales volume to achieved at location C
The fixed cost is $5,730 per month
The target profit is $10,500 per month
TargetSales=Fixedcosts+Target
Explanation:
only i can do sorry
a negative in the pigmalion effect theory
Explanation:
Negative implications of the Pygmalion Effect: Unjustified expectations end up becoming real. ... Secondary teachers have lower expectations to colored students and students from poor and disadvantaged backgrounds.
On Plum Perfect Department Stores' most recent balance sheet, the balance of its inventory at the beginning of the year was $15,000. At the end of the year, the inventory balance was $21,500. During that year, its cost of goods sold was $64,000. All purchases of inventory throughout the year were on account. What was the total of Plum Perfect's purchases during the year? Plum Perfect's total purchases during the year were
Answer:
$70,500 total purchases
Explanation:
15,000 - Starting inventory
21,500 - Ending inventory
6,500 - Difference
64,000 - COGS
64,000 + 6,500 =
$70,500 total purchases
(I havent taken accounting in a year so double check my answer)
In buying an existing business the prospective buyer should ask questions about the operation of the business which of the following would be an appropriate question to ask
In buying an existing business, the questions that would be appropiate for the prospective buyer to ask are the following:
E. All of the above are appropriate questions to ask.I was able to find the complete exercise online and the exercise had five options to choose from. These are the options:
A. Is the business operating at a profit? B. Why are you selling? C. Are there any problems with the business? D. Will the customers stay with the business?E. All of the above are appropriate questions to ask.The correct option was "E" because all the questions are not only appropiate but necessary to ask.
When buying an existing business, you need to know everything about the business and the reason why the owner is selling because it may make you change your opinion or help you make future decisions.
Check more information in the following link https://brainly.com/question/1268505?referrer=searchResults
Answer: A) What are you going to do with the down payment?
Explanation:
I got it right trust
What is the economics
Waddle Incorporated manufactures a single product. Variable costing net operating income was $96,300 last year and its inventory increased by 2,600 units. Fixed manufacturing overhead cost was $2 per unit for both units in beginning and in ending inventory. What was the absorption costing net operating income last year
Answer:
Helmers Corporation manufactures a single product Variable costing net operating Income last year was $77,000 and this year was $92,300. Last year, $28,700 In fixed manufacturing overhead costs were released from Inventory under absorption costing. This year, $10,900 In fixed manufacturing overhead costs were deferred In Inventory under absorption costing. What was the absorption costing net operating Income last year? Multiple Choice $81,400 O $77.000 0 $48,300 0 $105,700 Tubaugh Corporation has two major business segments--East and West. In December,
There are four steps in solving one's personal financial challenges:
1. considering opportunity costs
2. assessing risks and returns
3. setting short- and long-term goals
4. assessing needs and wants
Which of these is the correct order of these steps?
2, 1, 3, 4
1, 2, 3, 4
4, 1, 2, 3
4, 2, 3,1
I just need a paragraph or two answering these questions im doing a day care Business marketing plan, got stuck on this section its the last one. You can estimate the prices and the services we are targeting low to middle class so somewhere in between. For services we are offering pickups from local schools,toys,books, playgrounds the building is owned so just base your answers on that. Please someone help me its due in a couple hours.
if they have an actual number to use them as much a name for them or something that will come back up.
Suppose you are the Hiring Director for a local computer software design firm. Your company has experienced significant growth over the last two quarters and as a result, your company will be hiring for 30 new positions in the next several months. The Vice President of Human Resources feels this is a perfect opportunity to incorporate unconscious bias training at your company as managers from several departments will be interviewing and hiring candidates for the new positions. Your company, unfortunately, suffers from a lack of diversity especially among the engineering, coding, and designing positions. She has asked you to conduct this training for the department managers in advance of any interviews being conducted.
As the hiring director, which of the following are effective in removing bias from the recruiting, interviewing, and hiring process?
A) Final hiring decisions can be made individually as long as the manager has followed a set of criteria in evaluating the candidate
B) Remind managers that their first or "gut" instinct is often the right choice
C) Final hiring decisions should be made by a hiring committee consisting of three or more department managers
D) Make department managers aware that unconscious bias exists
As a hiring director, it is effective to remove bias from the recruiting, interviewing, and hiring process by making department managers aware that an unconscious bias exists.
It is also effective to eliminate bias by having final decisions made by a hiring committee composed of three or more department managers.
Thus, the recruitment and selection process would be based on multiple views and not on the individual view of a single manager, which can reduce individual prejudices and thus increase diversity.
Awareness that bias exists is also the first step in identifying and solving the problem, providing specific training and guidance for more effective hiring.
A diverse work environment is essential for a company to be more innovative and creative, with professionals with different experiences and visions to enrich work processes and organizational culture.
Learn more here:
https://brainly.com/question/12672701
the pigmalion effect applies to consumer behavior?
The Pygmalion effect is where an individual's performance is influenced by others' expectations. In other words, higher expectations lead to higher performance. However, the Pygmalion effect specifically refers to how our expectations of others affect our behavior towards them.
Explanation:
The Pygmalion effect is where an individual's performance is influenced by others' expectations. In other words, higher expectations lead to higher performance. However, the Pygmalion effect specifically refers to how our expectations of others affect our behavior towards them.
The Pygmalion effect, or Rosenthal effect, is a psychological phenomenon wherein high expectations lead to improved performance in a given area. The effect is named after the Greek myth of Pygmalion, a sculptor who fell in love with a statue he had carved, or alternately, after the psychologist Robert Rosenthal.
Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. Lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. Which of the following types of private solutions to the externality of pollination has occurred in this case?
A) Integration of different types of businesses through merger or acquisition
B) Charities
C) Moral codes and social sanctions
D) Contracts
Answer: Contracts
Explanation: Because the 2 parties are coming to a contractual agreement.
time in line to buy groceries
Nick and Matt are the partners in a local health food store. They
needed $73,000 to start the business. They invested in the ratio 3:7
a. How much money did each invest?
b. What percent of the business was owned by Matt? Round to the
nearest tenth of a percent
a. The amount that each invested is: Nick $21,900; Matt $51,100.
b. Percent of the business owned by Matt is 70%.
a. Amount invested by each
First step is to calculate the total parts
Total parts=3x + 7x
Total parts=10x
Second step is to calculate the cost per part(x)
Cost per part(x)=73,000/10
Cost per part(x)=7,300
Third step is to calculate the money invested by Nick and Matt
Money invested by Nick=3x
Money invested by Nick=3×7,300
Money invested by Nick=$21,900
Money invested by Matt=7x
Money invested by Matt=7×7,300
Money invested by Matt=$51,100
b. Percent owned by Matt
Using this formula
Percent owned by Matt =Part owned by matt/Total part
Let plug in the formula
Percent owned by Matt =7x/(3x+7x)
Percent owned by Matt=7x/10x
Percent owned by Matt=0.7×100
Percent owned by Matt =70%
Inconclusion the amount that each invested is Nick $21,900; Matt $51,100 and the percent of the business owned by Matt is 70%.
Learn more here:
https://brainly.com/question/17250642
a) Using the information in the table above, calculate the value of GDP for Sandy Island in 2019 (Show your calculation).
b)Calculate the value of net exports (Show your calculation).
a) Sandy Island's 2019 GDP is $1,200 billion.
b) The value of the net exports is -$200 billion ($300 - $500 billion).
Data and Calculations:
Personal Consumption Expenditure = $900 billions
Government Expenditure = $300 billion
Net Indirect Taxes = $350 billion
Investment Expenditure = $200 billion
Exports of goods and services = $300 billion
Imports of goods and services = $500 billion
Depreciation = $100 billion
In Economics, Sandy Island's 2019 GDP is defined by the following formula: GDP = C + I + G + NX
Where GDP = Gross Domestic Product
C = Personal Consumption Expenditures
I = Investment (business expenditures and home purchases by households)
G = Government Expenditure or Spending
NX = Exports - Imports
Thus, Sandy Island's 2019 GDP = $1,200 ($900 + $200 + $300 + $300 - $500) billion.
Learn more: calculating a nation's GDP here: https://brainly.com/question/1384502
Which of the following is not a characteristic of a cafeteria?
A tray is used to collect chosen dishes.
Customers tell servers what they want.
Food is displayed along the serving line.
Amounts are usually "all you care to eat" with no limits.
Answer:
The last option
Explanation:
In cafeterias you don't get an unlimited amount of what you want. Sometimes you don't even get what you want.
if the natural rate of unemployment is 5%, what is the total rate of unemployment if output is 2% below potencial output?
Camilla works as a data entry specialist in the local government offices. The government office is trying to update by getting rid of all paper records. Which is where Camilla comes in. What is one task that Camilla might have as part of the job
I will give 20 points And brainliest
Answer:
Camilia would likely have to either 1. scan the documents to online or 2. Copy all information on the documents to online. Due to it being a government officer, all documents are likely important and will be copied to the cloud/drive.
Explanation:
This is just a answer using logic, not any actual definitions.
Answer:
scanning the records into the system
Explanation:
its the most logical considering they want all paper records gone, but probably want to keep them in the system
As an economic concept, scarcity applies
to A) both money and time.
B) money but not time.
C) time but not money.
D) neither time nor money
Answer:
A
Explanation:
both the poor and the rich. Scarcity requires that people must. make choices. As an economic concept, scarcity applies to. both money and time.
Time and money are the two most in-demand precious resources. Most people lack one, the other, or both in an excessive amount. Therefore Option (A) is the correct option.
What is scarcity?Scarcity as an economic principle "refers to the fundamental truth of existence that there exists only a finite number of human and nonhuman resources that the finest technical knowledge is capable of exploiting to produce just a restricted maximum amount of each economic product."
There wouldn't be any economic goods, or comparatively scarce products if the conditions of scarcity didn't exist and "unlimited amounts of every good could be generated or human demands entirely met."
A limited supply of a good or service that may be in demand on the market or by the public is known as scarcity. The inability of an individual to purchase goods is another aspect of scarcity. Scarcity's opposite is abundance.
Learn more about scarcity, from:
brainly.com/question/15128318
#SPJ2
You have been asked to evaluate two alternatives, X and Y, that may increase plant capacity for manufacturing high-pressure hydraulic hoses. The parameters associated with each alternative have been estimated. Which one should be selected on the basis of a present worth comparison at an interest rate of 14% per year
m is studying the delivery times of two raw material suppliers. The firm is basically satisfied with supplier A and is prepared to stay with that supplier if the mean delivery time is the same as or less than that of supplier B. However, if the firm finds that the mean delivery time of supplier B is less than that of supplier A, it will begin making raw material purchases from supplier B.
Answer:
So in other words your company or business is looking for the most consistent/reliable supplier who's supply rate is the better out of the two according to overall and long-term supply of said product
