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madreJ [45]
3 years ago
6

Foreign companies that are listed on the New York Stock Exchange (NYSE) and following their domestic GAAP must report their inco

me in terms of: the International Accounting Standards. the GAAP of their home country. the GAAP of the United States. All of the above
Business
1 answer:
Arlecino [84]3 years ago
7 0
The generally accepted accounting principles of the United States
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15,000 units in a process that are 70% complete are referred to as:
KengaRu [80]

Answer:

(c) 10,500 equivalent units of production

Explanation:

Equivalent units of production helps manufacturing companies determine the average completed or finished products. Additionally, since there are many items in continuous production, without calculation of equivalent units, it would be difficult to determine how much money was incurred in production costs.

Using the formula

The number of partially completed units (15,000) x percentage of completion (70%) = equivalent units of production (10, 500)

5 0
3 years ago
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships.1. The likeliho
Setler [38]

Answer:

1. The likelihood of a payment occurring is probable, and the estimated amount is $1.14 million.

  • Dr Law suit loss 1,140,000
  •     Cr Law suit liability 1,140,000

2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.94 to $1.14 million.

  • Dr Law suit loss 940,000
  •     Cr Law suit liability 940,000

US GAAP allows companies to record probable losses at lowest estimated value.

3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.14 million.

  • no journal entry is required, only a disclosure in the footnotes of the financial statements.

A contingent liability (or loss) that is only possible, but not probable, does not need to be journalized and recorded. It only needs to be disclosed in the footnotes of the financial statements.

4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.14 million.

  • no journal entry is required

A contingent liability (or loss) that is remote, does not need to be journalized or recorded, nor included in the footnotes of the financial statements.

6 0
3 years ago
How do businesses determine the equilibrium price of a good or service?
Helen [10]

Answer:

C. They set a price where the demand matches the quantity they are

willing to supply

Explanation:

The equilibrium price is the current market price as determined by supply and demand forces. It is the price at which buyers are happy to buy the entire supplied quantities. Suppliers are also happy to sell that quantity at the set price. The equilibrium price is, therefore, the intersection of the demand and supply curves.

At the equilibrium price, there is no excess or short supply of a product in the market.

6 0
3 years ago
Examples of tangible and intangible
Rashid [163]

Answer:  Tangible: <em>cash, inventory, vehicles, equipment, buildings and investments</em>

Intangible:  <em>goodwill, brand recognition, copyrights, patents, trademarks, trade names, and customer lists</em>

<em>Hope this helps </em>

<em>Plz mark brainlest</em>

<em />

5 0
3 years ago
Please help me with this account question I'm tryna make entries ​
qwelly [4]

Answer:

451

Explanation:

430+21

1234567890101112131415

8 0
2 years ago
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