Answer:
The total long-term liabilities reported on the balance sheet are $3,451,000.
Explanation:
<u>Details Amount ($)</u>
Bonds Payable 9% 3,000,000
Premium on Bonds Payable 98,000
Notes Payable (5 yr.) 166,000
Mortgage Payable (200,000 - 13,000) <u> 187,000 </u>
The total long-term liabilities <u> 3,451,000 </u>
Answer: The General offers automobile insurance online. Buyers can purchase a policy over the Internet and the company will provide immediate proof of insurance to get legal drivers on the road quickly.
This shows how electronic commerce contributes to customer value through the creation of <u>new facilities that save time and money, making the insurance system much more efficient and faster, resulting in greater comfort for customers.</u>
Answer:
Explanation:
The journal entries are shown below:
1. Petty cash A/c $1,100
To Cash A/c $1, 100
(Being the petty cash fund is established)
2. Office supplies A/c Dr $614
Miscellaneous selling expense A/c Dr $200
Miscellaneous administrative expense A/c Dr $145
Cash short and over A/c $26
To Petty cash A/c $985
(Being the expenses are recorded)
The Cash short and over is computed below:
= $1,100 - $115- $614 - $200 - $145
= $26
Answer: The correct answer is “How do we accomplish our goals?”
Explanation: An organization’s core values are the fundamental beliefs of the organization. The are the guiding principles that guide the activities and employees of the organization. They answer the question “How do we accomplish our goals?”
Answer:
1. b. $15,000
2. a. $13,200
Explanation:
a. Fair Value of Consideration $180,000
Non Controlling Interest $120,000
Differential in value of Sanlo $45,000
Good will = $15,000
b. Value of Equipment = $10,000 / 5 = $2,000
$2,000 * 60% = $1,200
Value of land = $15,000 * 60% = $9,000
Value of Sanlo's Inventory = $5,000 * 60% = $3,000
Total value amortize using equity method is $13,200
