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2 years ago

What does it mean to have liability for a company

Business

2 answers:

VLD [36.1K]2 years ago

7 0

Answer:

A liability is an obligation that arises during the business. It represents a third party's claim on a company's assets usually from lenders, creditors, or the company's employees. The later is the result of the imprudence of the company in a certain obligation supposed to provide to the employee. In that case, the company is liable for the damages caused to the worker.

barxatty [35]2 years ago

6 0

It Means if a worker or anyone gets hurt while working or doing something with your company, you need to pay his debts.

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A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is e

vredina [299]

Answer:

Results are below.

Explanation:

Giving the following formula:

Purchase price= $1,800,000

Salvage value= $60,000

Useful life= 8 years or 600,000 units

To calculate the annual depreciation using the units-of-production method, we need to use the following formula:

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= [(1,800,000 - 60,000) / 600,000]*70,000

Annual depreciation= $203,000

To calculate the annual depreciation using the double-declining balance, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(1,800,000 - 60,000) / 8]

Annual depreciation= $435,000

Finally, the annual depreciation using the straight-line method:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,800,000 - 60,000) / 8

Annual depreciation= $217,500

6 0

2 years ago

Willy makes proper use of the wiki feature on the company intranet when he ________. science forums

beks73 [17]

Answer:

Adds some updated features to product information, that way, he can effectively utilize the wiki feature as he so desires.

7 0

3 years ago

In the month of March, Sandhill Salon services 630 clients at an average price of $120. During the month, fixed costs were $26,1

vichka [17]

Answer:

Part 1. total contribution margin in dollars

Total Contribution Margin = $37,800

Part 2. per unit contribution margin

contribution margin per unit of sell = $ 60

Part 3. contribution margin ratio

contribution margin ratio = 50 %

Part 4. break-even point in dollars

break-even point in dollars = $ 52,320

Part 5. break-even point in units

break-even point in units = 436 clients

Explanation:

Part 1. total contribution margin in dollars

contribution margin per unit of sell = Sales Price × 50%

= $120 × 50%

= $ 60

Total Contribution Margin = Number of Clients × Contribution Margin per unit

= 630 × $60

= $37,800

Part 2. per unit contribution margin

contribution margin per unit of sell = Sales Price × 50%

= $120 × 50%

= $ 60

Part 3. contribution margin ratio

contribution margin ratio = Contribution / Sales

= $ 60/ $ 120

= 50 %

Part 4. break-even point in dollars

break-even point in dollars = Fixed Costs / contribution margin ratio

= $26,160 / 0.50

= $ 52,320

Part 5. break-even point in units

break-even point in units = Fixed Costs / contribution per unit

= $26,160 / $60

= 436 clients

6 0

2 years ago

Rising unemployment levels tend to stifle demand for goods and services, which can have the effect of forcing prices downward is

Yuki888 [10]

Answer:

This is called deflation.

Explanation:

Deflation refers to the situation when there is a decline in the general price level, it causes the economy to slow down. It generally happens because of a reduction in the money supply.

The nominal costs of goods and services, labor, capital, etc. decline. But the relative prices, generally remain the same. '

The decline in price is not good for everyone and adversely affects producers. It is also harmful to borrowers. The decline in the price level increases the purchasing power of money.

5 0

3 years ago

The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 10,319 Accounts

garri49 [273]

Answer:

49 days

Explanation:

Account receivable turnover ratio = Net credit sales / Accounts receivable

Account receivable turnover ratio = $602,000 / $79,922

Account receivable turnover ratio = 7.53

Average collection period = 365/7.53

Average collection period = 48.47277556440903

Average collection period = 49

Thus, firm’s sales uncollected for year is 49 days.

8 0

3 years ago