The event should be presented in the financial statements as follows:
1. The assets side of the balance sheet will be reduced by 75%, with its accompanying accumulated depreciation.
2. The bonded liability on the balance sheet is eliminated by the relevant amount.
3. The journal entry should debit the Bonded Liability and accumulated depreciation, while the assets worth 75% are credited.
4. If the bonded indebtedness is more than 75% of the assets, the company records a profit on disposal on the income statement. Otherwise, it records a loss. If they are equal, there is no profit or loss.
Thus, the difference between the debit and credit entries constitutes either profit or loss on disposal.
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Answer:
A. Debit Compensation Expense $10,000,000
Credit PIC-Excess Par $10,000,000
Explanation:
The total cost of the stock options granted is allocated to the respective years in which the stock compensation relates as below:
Total stock compensation=market value per share on grant date*number of stock options
Total stock compensation=$10*5,000,000=$50,000,000
compensation expense allocated per year=$50,000,000/5
compensation expense per year=$10,000,000
Answer:
Take a credit facility and do an insurance cover.
Explanation:
In order to meet your monthly financial commitments, you can seek for upfront credit facility through your organization if such provisions exist or ask for a salary loan which can be deducted from source (Salary).
To prepare for similar unfortunate incidence in the future, it will be important to secure a life and health insurance cover either through your organization or on an individual basis.
C). <span>a two-year vocational school program in automotive repair</span>
Answer:
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- <u><em>4.75% of the candidates takes more than two hours to learn the computer system.</em></u>
<u><em></em></u>
Explanation:
The relevant information to solve the problem is:
- 1. <em>The time it takes to learn follows a Normal distribution </em>
- 2.<em> The mean is 90 minutes</em>
- 3. T<em>he standard deviation is 18 minutes</em>
- 4. <em>The question is What proportion of candidates takes more than two hours to learn the computer system?</em>
Then, you shall calculate the Z-score and use a standard distribution table to look up the Z-score and the corresponding probability.
Repeating myself from a recent answer, "there are two types of standard distribution tables: tables that show values that represent the AREA to the LEFT of the Z-score, and tables that show values that represent the AREA to the RIGHT of the Z-score".
<u>1. First, calculate the Z-score:</u>
<u>2. Use the table that represents the area to the right of the mean to find the ratio of typists that have a Z-score greater than 1.67.</u>
Therefore, 4.75% of the candidates takes more than two hours to learn the computer system.
