Answer:
The unredeemed gift cards should be reported as current liability on the balance sheet
Explanation:
Here in this question, we are interested in knowing how purchased but yet to be redeemed gift cards, having an extra year of validity should be recorded on the company’s present year-end financial statements.
The correct answer to this is that the yet to be redeemed gift card is to be recorded as a current liability on the present year balance sheet. When we talk of current liabilities, we are simply referring to those amounts in businesses which we are going to pay creditors within the year.
Although the gift card has been purchased, without redeeming yet still means there are some amount that is still yet to be paid out to the creditors. Now, since there is still a window of a whole full year before the creditors might no longer access the payment, then we can record the gift cards amount as current liabilities within the year which we are in since the payment is due to be paid within a whole full year.
Answer:
Here the A) the amount of tax paid would be $544 and B) and the car's total cost would be $14,144.
Explanation:
GIVEN INFORMATION -
Local tax rates - 4%
Purchase cost of car is - $13,600
A) Formula for taking out the amount of tax paid is -
Purchase cost of car X Local tax rate
= $13,600 X 4%
= $ 544
B) For taking out the total cost for the car -
Purchase cost of car + amount of tax paid
= $13,600 + $544
= $14,144
See full question attached
Answer and Explanation:
Find full answer and explanation attached
Answer:
The net cash flow of the year amounts to $32,000
Explanation:
The net cash flow of the year is computed as:
Net cash flow = Net income + Depreciation
= $7,000 + $25,000
= $32,000
Where
Net Income is computed as:
Net Income = Sales - COGS (Cost of goods sold) - Depreciation expense - Selling and administrative expense - Income tax expense
= $300,000 - $170,000 - $25,000 - $95,000 - $3,000
= $7,000
If you are alone in heavy expressway traffic at rush hour, use the middle lane to avoid vehicles constantly entering and exiting your path. If the lanes are three wide, using the middle lane allows you to move easily in either direction. If the road only has two lanes, it’s best to be in the left lane to avoid in coming traffic.
