The action that Anita would have to take for the result of the foreclosed sale would be to Make a positive adjustment to the sales price of the foreclosed home.
<h3>What is a house appraisal?</h3>
This is the term that is used to refer to the unbiased opinion that Anita is going to have about this house. It is based on her professional opinion. The appraisal is required when there is a need to buy a property or to sell one.
In this question the action that has to be taken would be to Make a positive adjustment to the sales price of the foreclosed home.
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Answer:
Vehicle registration
Explanation:
Vehicle registration reoccurs annually, the other costs are one time.
Answer:
Revenue recognized in Dec= $3200
Explanation:
Lets first understand the criteria for revenue recognition. According to the accruals concept of accounting, an entity is supposed to record revenues and expenses as soon as they are earned and incurred. An entity shouldn't wait until the revenue is received and expenses are actually paid. The accruals concept of accounting is also based on the matching principle which requires entities to match and record expenses with the revenue of the period in which they occur. Considering the two concepts mentioned above, we may classify these transactions for revenue recognition as follows;
a. Receipt of $1200 cash:
In this case Lobos Inc. has received the cash in advance and the services against this payment will be rendered next month, therefore, this transaction doesn't imply an earned revenue rather it's a liability for Lobos Inc until the services are actually rendered. No revenue is recognized in December.
b. Perform $900 of services:
Lobos Inc. will provide services to this customer and will receive payment in next month, however the services have been provided which implies Lobos Inc has earned the revenue, though not received it yet but still following the accruals concept, Revenue is recognized in December.
c. Perform $2300 of services:
Similarly, Lobos Inc. will render services and will receive the payment against these services in the month of Dec, therefore, Lobos Inc can recognize revenue in December.
Answer:
a. $(8000)
b. Company should choose alternative 1 and make bottles.
Explanation:
Particulars Make Bottles Buy Bottles Differential
Alternative 1 Alternative 2
Purchase Price 0 $37 $(37)
Freight Charges 0 $4 $(4)
Variable cost $33 $33
Fixed Cost $17 $17 0
Cost per unit $50 $58 $(8)
Income / (Loss) $50,000 $58,000 $(8,000)
b. The company should choose alternative 1 and make bottles. The buying of bottles will cost company loss of $8,000.
Answer:
5.32 years
Explanation:
Particulars Amount
Sales $16,700
Less: Expenses <u>$7,300</u>
Profit before tax $9,400
Less: income tax <u>$3,760</u>
Net income $5,640
Add: Depreciation <u>$4,700</u>
Annual Cash flow <u>$10,340</u>
So, the payback period for the new machine = Total investment/Annual cash flow = $55,000 / $10,340 = 5.319148936170213 = 5.32 years
