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gavmur [86]
1 year ago
15

Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of

the year:
Total asset $530, 000
Total noncurrent assets 362, 000
Liabilities:
Notes payable (8\%, due in 5 years) 15, 000
Accounts payable 56, 000
Income taxes payable 14, 000
Liability for withholding taxes 3,000
Rent revenue collected in advance 7,000
Bonds payable (due in 15 years) 90, 000
Wages payable 7, 000
Property taxes payable 3, 000
Note payable (10\%, due in }6\text{ months) 12, 000
Interest payable 400
Common stock 100, 000
(b) Would your computation be different if the company reported $ 250,000 worth of contingent liabilities in the notes to its financial statements? Explain.
Business
1 answer:
Sveta_85 [38]1 year ago
6 0

No, it will not be affected as contingent liabilities are yet not recognized.

Assets are owned by the company and liabilities are borne by the company. Both are listed on the company's balance sheet, which is a financial statement that shows the financial condition of the company. Assets fewer liabilities equal the owner's equity or net worth.

Debt mainly has three classifications. These are short-term liabilities, long-term liabilities, and contingent liabilities. Short-term and long-term liabilities are the most common in business. As with businesses, the net worth of an individual or household is determined by weighing assets and liabilities for most households, liabilities.

Learn more about liabilities at

brainly.com/question/24534918

#SPJ4

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Merger and acquisition strategies
aniked [119]

Answer: Option (E)

Explanation:

Merger strategies are usually undertaken by an organization in order to form a strategic merger with several other organizations so as to accelerate the growth, instead of growing organically. Acquisition strategy tends to involves the finding methodology for acquisition of the target organization which generates the value for acquirer.

5 0
4 years ago
Match the items.
Igoryamba

Answer:

D --> 3

B --> 2

A --> 1

C --> 4

Explanation:

1.- The company should pick the most probable outcome when possible to evaluate liabilities, and only recognize revenues and assets with certain.

Between two  favorable figures, it will pick the lowest if it is not certain about the second outcome.

2.-The accounting should disclosure all information useful for third parties to make knowledgeable decisions about a company

3: the accounting should keep the same method over the years, so the assets valuation follow a certain logic. If the accounting change method every year, then the valuation of the assets will differ from period to period. This will make the books of previous year difficult to compare with the current year.

4.- The company needs to show any important data which is significant to the business

6 0
3 years ago
When Raoul Welsh is evaluating the construction industry in terms of interest rates, employment cycles, and the rate of new home
Mice21 [21]

Answer:

FALSE                                

Explanation:

Microeconomics refers to the branch of economics which examines the actions of persons and businesses in making choices about limited resource distribution and the relationships between these entities and industries.

Although microeconomics concentrates on companies and people, macroeconomics focuses on overall economic exercise, talking about issues of development, interest rates, and joblessness, and governmental policies on such concerns.

Thus, from the above we can conclude that the given statement is false.

7 0
4 years ago
Why are entrepreneurs considered both spark plugs and catalysts of the free enterprise economy?
Tanya [424]
<span>Entrepreneurs are considered to be both spark plugs and catalysts of the free enterprise economy because of a number of reasons. Everybody benefits and profits when an entrepreneur becomes successful. When an entrepreneur opens his or her search for profits, the effects would be a chain of events where new products, greater competition, more production, higher quality, and lower prices for consumers can be observed. An entrepreneur is said to be a spark plug in the free-market for there is that vision of providing a product or a service that people are willing to pay for, combined with the ability to produce that product or service at a cost below the market sales price which propels him/her to take action. Capitalism will not work if it were not for the entrepreneurs who take the risks and start the businesses that produce the goods and services we all enjoy.</span>
3 0
4 years ago
Real property subject to a lien is referred to as:
antoniya [11.8K]
The owner of the  property, who allow  the lien, is relate to as  the Lienee and the person who has the advantage of the lien is referred to  as the  Lienor or Lien holder.
In the United States, the term lien usually pertain to a wide range of encumbrances and would involve other forms of mortgage or charge.
7 0
3 years ago
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