Answer:Yes it should be reported.
$2.8 million should be reported in the the balance sheet as a liability.
Explanation: Contingent liabilities are liabilities that depend on the outcome of an event that may likely not occur.
Before they can be reported in financial statement, it must be able to estimate the value of such contingent liability and the liability must have a higher than 50% possiblity of being achieved.
If the value can be estimated, then the liability has a higher chance of being realised.
Qualifying contingent liabilities such as the $2.8 million estimated by Top Sound International should be recorded in the income statement as an expense and a liability on the balance sheet.
Therefore the $2.8 million liability should be reported in its 2018 balance sheet
Answer:
The government can influence interest rates, print money, and setting bank reserve requirements are all tools central banks use to control the money supply. Other tactics central banks use include open market operations and quantitative easing, which involve selling or buying up government bonds
Answer:
$575.82.
Explanation:
Since Thomas owes $ 438 on his credit card, but only paid the minimum of $ 20, his debt is now $ 418 (438 - 20). A late fee of $ 39 will be added to this value, which will raise said sum to $ 457 (418 + 39). In turn, the interest rate for unpaid card balances is 26% per month. Therefore, next month his balance will be $ 575.82 (457 x 1.26).
Answer:
equivalent annual cost: 19,784.81
The investment is not economically justified as it is cheaper to pay the fines than invest in the equipment to avoid them.
Explanation:
We calcualte the PMT of a 75,000 dollars equipment at 10%
PV 75,000
time 5
rate 0.1
C $ 19,784.811
EPA fines: <u> </u><u>$ 18,500.00 </u>
differential: (1, 284.81)
