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4 years ago

Assessment

Business

1 answer:

Sunny_sXe [5.5K]4 years ago

4 0

This should NOT be considered when setting a current budget

Future income

Explanation:

Future income can be anticipated but never factored in.

This is because the economy is not only controlled by economic policy or statistics that anticipate growth but outside influences too.

For example, despite the productive growth in the recent time there will be decrease in incomes throughout the world this year.

This is because of the recent crisis that was not foreseen at all.

Thus policy making must not see the future as anything granted and must only set up goals for the present and only anticipate what would probably come in the future.

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On September 1, Sky Mountain Co. borrowed $200,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjus

avanturin [10]

Answer:

Accrued Interest - $5,333.33

Explanation:

At the end of the year, due to the matching principle, expenses of the same period need to be matched with that period and 'expensed' in the same year.

In the scenario above there has been 4 months out of 9 used in the current year, hence as at December 31st. 4 months interest will be included in the current year and 5 months interest will be attributable to the following future.

4 months / 9 months * 6% * 200,000 = $5333.33

In consonance with the <em>accrual basis of accounting</em>, the amount of accrued interest that will be recorded with adjusting entries will be:

Dr Interest expense - 5,333.33

Cr Accrued Interest - 5,333.33

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4 years ago

question content area if $354,000 of 10% bonds are issued at 95, the amount of cash received from the sale is

Ludmilka [50]

The amount of cash received from the sale is calculated to be $336,300.

The amount of cash received from the sale of bonds can be calculated by using the following formula;

Cash received = Face value of bond × Bond quote

Since $354,000 of 10% bonds are issued at 95 in this case, therefore we substitute the values in the equation to determine the amount of cash received from the sale as follows;

Cash received = $354,000 × (95 / 100)

Cash received = $354,000 × 0.95

Cash received = $336,300

Therefore $336,300 cash is received from the sale if $354,000 of 10% bonds are issued at 95

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1 year ago

When the price of gasoline increases, the quantity always has to lower?

umka2103 [35]

Its called inflation the more you buy the more the prices go up but i don't think the quantity lowers no

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3 years ago

You're working on a project that has an ev of $7362 and a pv (bcws) of $8232. what's your sv?

blagie [28]

So, the correct option is A, This one is only to see if you're familiar with the schedule variance calculation. To use the SV formula, simply enter the values: SV = EV – PV

What is Schedule variance (SV)?
A project's schedule variance serves as a gauge for whether it is on time or not. It is frequently used in earned value management (EVM) to give project managers an update on the status of the work during the analysis stage. A monetary unit is often used to represent a schedule variance, with negative values used to indicate any delays. The budgeted cost of work performed (BCWP) represents the cost of the actual work completed, whereas the budgeted cost of work scheduled (BCWS) measures the budget for the full project. The schedule variance is the difference between these two numbers.

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1 year ago

On January 1, 20X1, Prim Inc. acquired all of Scrap Inc.â€™s outstanding common shares for cash equal to the stockâ€™s book valu

aliya0001 [1]

Answer:

Prima Inc.

1. c. Decrease depreciation expense and recognize no goodwill amortization

Rudd Corporation:

2. The amounts of Amortization and Goodwill Expense to be reported in Rudd's 20X8 financial statements are:

= d. $ 0 $ 0

3. The amount of the intercompany loans and profits that should be eliminated are:

. $100,000 $300,000

4. The amount of goodwill that should be reported as a result of this business combination is:

= c. $400,000.

Explanation:

Data and Calculations:

2. Recorded goodwill = $100,000

Estimated useful life = 5 years

Amortization and Goodwill Expense = $0

3. Intercompany loans = $100,000

Intercompany profits = $300,000

4. Long Corp.'s

Cost Fair Value

Cash $ 160,000 $ 160,000

Inventory 480,000 460,000

Property, plant and equipment (net) 980,000 1,040,000

Liabilities (360,000) (360,000)

Net assets $1,260,000 $1,300,000

Payment = $1,700,000

Goodwill (acquired) = $400,000 ($1,700,000 - $1,300,000)

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3 years ago