Answer: Will report a liability of $5000 for judgement debt and a claim of $11,000
Explanation:
The liability refers to the obligations of the firm which are certain is going to make payment as compensation.
The $5000 liability, although payment has not been made it's already Incurred by the company under the acural concept.
The claim of $11,000 is only probable and not certain even though amount and time of execution can be estimated, since it's not certain it will only be recorded as a claim in the goverments fund balance sheet.
Answer:
Present Value= $19,652.37
Explanation:
Giving the following information:
You are the financial manager for a recreation center that has signed an option to purchase new elliptical machines for $22,500 in two years. If you have an investment opportunity that guarantees 7% interest.
PV= FV/(1+i)^n
PV= 22,500/ (1.07^2)= $19,652.37
Answer:
How much do you make in interest in a year?
<u>$ 1100</u>
How much would you need to have made for your spending power to keep up with inflation in that year?
<u>$ 1782
</u>
How much buying power did you lose in that year because of inflation?
<u>$ 682
</u>
Explanation:
Your interest formula is given to you.
Interest in a year = principal (the amount invested) * rate (the interest rate) * period (the time you're measuring)
Interest = 55,000 * 2% * 1 year = 55,000 * 0.02 * 1 = $1,100
How much would you need to have made for your spending power to keep with inflation? Your interest rate would have needed to match the inflation rate, otherwise prices are going up faster than you're saving.
Required interest = 55,000 * 3.24% * 1 year = 55,000 * 0.0324 * 1 = $1,782
How much buying power did you lose? The difference between your required interest and your actual interest.
Buying power lost = 1,782 - 1,100 = $682. You lost this much in buying power.
Hope that helped :)
Answer:
True
Explanation:
The codes of conduct are the set or collection of conduct in an organisation that are specified for the particular organisation. These conducts may be following:
- Rules
- Principles
- Values
- Employee expectations, behavior, and relationships
These codes of conducts are to be followed by the individuals associated with organisation.
Answer:
B. Raw Materials
Explanation:
Raw materials are the basic components of manufacturing and production process in a goods manufacturing entity. Raw Materials are used in the production of a finished products (such as Crude
Oil is a raw material for Petrol, Milk is a raw material for Yogurt, Yarn is a raw material for Garment whereas Petrol, Yogurt and Garment are the finished products).
Keeping in view the above discussion, the leather purchased by the Tamara, to be used on some of the furniture to be manufactured by the Everything New, shall be classified as Raw Materials.
Answer is B. Raw Materials