Retained earning must have been C. $413,640 on December 31, 2016
Answer: risk
Explanation: 100% satisfaction guarantee is a statement that if a customer of a product (or service) is not satisfied with the item purchased, then the producer will offer a full refund back to the customer. In this case REI allows this option for a period of up to 1 year after the sale was made.
REI utilises this option in an effort to reduce costs attributed to risk. For customers, this is a powerful tool as they are allowed to try the product, while knowing that if they don't like it then they can return it for a full refund. For REI, it increases customer trust as it allows customers to believe that the product is worth the sales price. It also reduces risk as REI is able to test the product out to actual customers and get a feel for if they like it, and what can be improved if needed.
Because he had a contract with the builder, the mason would be able to get the original contract price of $45,000.
Answer:
$125,000
Explanation:
Given the following resorted data from the question:
Spot Rate Forward Rate for
March 16, 2020 Delivery
November 16, 2019 $1.250 $ 1.248
December 31, 2019 1.260 1.255
March 16, 2020 1.265 1.265
The applicable rate to use to calculate the amount the company will report sales revenue on its 2019 income statement is the spot rate ruling on the date the company made the sale to the customer in Germany, i.e. $1.250 on November 16, 2019.
Therefore, we have:
Sales revenue = €100,000 * $1.250 = $125,000.
Therefore, the amount the company will report sales revenue on its 2019 income statement is $125,000.
Answer:
Year Amount ($) (Disclosure amount for long term debt)
2021 0
2022 2,500,000
2023 4,500,000
2024 8,500,000
2025 2,500,000
Explanation:
The question is to show the required note disclosure of Redmon Company's Long term Debt at December 31, 2020
In order to do this, the note disclosure will take into cognisance the
Year Amount ($) (Disclosure amount for long term debt)
2021 0
2022 2,500,000
2023 4,500,000
2024 8,500,000
2025 2,500,000
Workings:
Disclosure for 2023 = Annual sinking fund payment + the notes payable maturity = (2,000,000 + 2,500,000)
Disclosure for 2024 = Annual sinking fund payment + the notes payable maturity = (6,000,000 + 2,500,000)
