If a new-car loan costs 6%, a used-car loan would cost approximately __

On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash, $10,687; Accounts Receivable,

Agata [3.3K]

Answer:

The amount of stockholders' equity as of July 1 of the current year is $39,994

Explanation:

In John Wong, DVM, on July 1 of the current year:

Total asset = Cash + Accounts Receivable + Supplies + Land = $10,687 + $8,307 + $1,853 + $24,857 = $45,704

Liabilities = Accounts Payable = $5,710

Basing on accounting equation:

Total asset = Liabilities + Stockholders' Equity

Stockholders' Equity = Total asset - Liabilities = $45,704 - $5,710 = $39,994

7 0

3 years ago

Rick prepared financial statements for MegaCorp knowing that it was going to use his statements to apply for a loan with Big Ban

Ymorist [56]

Answer:

The correct answer is the option D: Both the foreseeable doctrine and the restatement doctrine.

Explanation:

On the one hand, the <em>foreseeable doctrine</em> dictates that there is a limit in the liability of party for those acts that he has done and that carry a risk of foreseeable harm. Therefore that this point of view establishes that a reasonable person would be able to understand and so to know when a certain action would bring certain damages to another party.

On the oher hand, the <em>restatement doctrine</em> establishes that there are a set of treatises on legal subjects that primarily are looking for to inform judges and lawyers about general principles of common law. And therefore that those treatises will help both the judge and the lawyers at the time of the trial when the person has to go to court.

3 0

3 years ago

A local bank sponsors a charity run that raises funds for a non-profit building wells and schools in Mali, Africa. How would the

const2013 [10]

Answer:

The use of the bank's funds for this fundraiser would be justified when the bank's goal is to maximize profit by:

giving the bank public relations boost, thereby improving its public image.

Explanation:

The creation of publicity opportunities through this fundraiser enhances the bank's activities. Awareness of its services is created through the sponsorship. People perceive the bank as a charity-supporting organization, which cares for the welfare of the less-privileged. The fundraiser creates huge goodwill. Public relation is, therefore, critical in helping the bank to engage its diverse publics across various platforms, including the accruing intangible benefits that derivable from the seemingly unprofitable effort.

5 0

3 years ago

Karin Company's loan is due on July 1, 2018. What conditions must Karin meet (at a minimum) so that the note can be classified a

Sindrei [870]

Answer: D. A & C

Explanation:

A long term liability is one that is due to be paid in a period longer than a year. The loan is due in less than a year so the only way to classify it as a long term liability is to make it a loan that will extend past a year. This can be done through refinancing which is to replace the current loan with another loan.

Karin's company therefore would need to demonstrate that the obligation can be refinanced on a long-term basis by them and they must also have the intention to do so as well.

8 0

3 years ago

A sunk cost: Requires a current outlay of cash. Is the lost benefit of choosing an alternative course of action. Is irrelevant i

igor_vitrenko [27]

Answer:

Is irrelevant in decision making

Explanation:

Since the suck cost is the cost that no longer is recovered so it should not be a factor to consider when making a decision. For example, you have bought a cinema ticket for this evening, but it is heavily rainy so you may get sick if you go to the cinema. The fact that you have paid for this ticket should not consider whether to go or stay home since you can not get this amount of money no matter what happens.

5 0

3 years ago

If a new-car loan costs 6%, a used-car loan would cost approximately ___ percent