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worty [1.4K]
2 years ago
15

How is a contingent liability reported if it is considered ""reasonably possible?""

Business
1 answer:
viva [34]2 years ago
3 0

This is because a loss would be recorded (debit) and liability established (credit) in advance of the settlement.

Responsibility is the responsibility of the individual or company and is usually the amount. Debts are settled over time by the transfer of economic interests, including money, goods, or services. The liabilities shown on the right side of the balance sheet include loans, liabilities, mortgages, income receivable, borrowings, guarantees, and accrued expenses.

Liability can be compared to assets. Debt is what you owe or owe. An asset is something you own or owe.

Main findings

Responsibility (generally) is something that owes someone else.

Liability may also mean legal or regulatory risk or obligation. In

accounting, companies compare liabilities to assets.

Current liabilities are short-term financial liabilities of companies that are due within a year or within the normal business cycle (such as accounts payable).

Long-term (long-term) liabilities are liabilities that are recorded on the balance sheet and are due within one year.

Learn more about Liability here: brainly.com/question/24534918

#SPJ4

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You buy a seven-year bond that has a 5.25% current yield and a 5.25% coupon (paid annually). In one year, promised yields to mat
Rufina [12.5K]

Answer:

HPR = 0.371%

Explanation:

we must first determine the price of the bond in 1 year:

present value of face value = $1,000 / (1 + 6.25%)⁶ = $695.07

present value of coupon payments = $52.50 x 4.87894 (PV annuity factor, 6.25%, 6 periods) = $256.14

market price in 1 year = $951.21

since you bought the bond at face value (market value = YTM), the the holding period return is:

HPR = [(ending price - actual price) + dividends received] / actual price

HPR = [($951.21 - $1,000) + $52.50] / $1,000 = $3.71 / $1,000 = 0.371%

5 0
3 years ago
Chief financial officer Barry submits travel and expense reports that are completely genuine and encourages employees in his div
Scorpion4ik [409]

Answer: A) Leading by example

Explanation:

Leading by example means to act in a way that shows others how to act. Barry has led by example by submitting travel and expense reports that are genuine. This will inspire his employees or subodinates to do same.

Leadership is not about talking the talk, this type of leaders also walks the walk. Leaders expect others to do the right thing by leading from example.

8 0
3 years ago
The corporate charter of Luney Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first
kakasveta [241]

Answer:

Luney Corporation is authorized to sell 100000 shares

luney has issued =  70000 shares

luney has shares outstanding 63000

Explanation:

given data

maximum shares of common stock = 100,000

sold shares =  70,000

reacquired = 7,000

solution

we know here 100000 shares are mention in charter of the company

so Luney Corporation is authorized to sell 100000 shares

and  luney has issued =  70000 shares

so here  

we know that

luney has shares outstanding  = 70000 - 7000

luney has shares outstanding 63000

7 0
3 years ago
Person A earns $100,000 per year, while person B earns $45,000 per year.
USPshnik [31]
A is correct, sales tax is the same for everybody in a state, no matter the income. Hope this helps!
3 0
3 years ago
Read 2 more answers
Which two questions are good questions to ask in an informational interview?
PtichkaEL [24]
When your doing an interview never ask how much money do you make that will make them think that your there just for the money and not the job
6 0
3 years ago
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