I had to look for the options and here is my answer.
Some accountants assert that variances should be written off directly to the price of the sold goods, regardless or materiality because product proration would indicates that assets values on the balance sheet consist of the inefficiency costs.
Answer: c. Crowdfunding
Explanation: Crowdfunding is funding by many individuals pooling their money together for a common goal, usually via the Internet. The required amount for the project is raised by pooling small sums of money from a large number of people. Each individual acts as an agent of the offering, by selecting and promoting the projects in which they believe in. A wide range of profit-based ventures such as creative projects, medical expenses, travel etc. have employed crowdfunding as a means of sourcing funds.
Answer:
She have to invest $7,387 today to achieve goal
Explanation:
Future value is the accumulated value of principal and compounding interest after some period of investment.
Target Future value = A = $14,500
Number of year = 12 years
Yearling compounding = 2 time a year
Total compounding = n = 12 x 2 = 24 compounding periods
Interest rate = r = 5.7% yearly = 5.7% / 2 = 2.85% semiannually
A = P ( 1 + r )^n
$14,500 = P ( 1 + 2.85% )^24
$14,500 = P x 1.963
P = $14,500 / 1.963
P = 7,386.65
P = 7,387
Answer:
DR Warranty Payable $1.9m; CR Cash $1.9m.
Explanation:
When a company creates a payable it is obligated to pay a certain amount within a particular period.
In this case Google provides a 1 year warranty on its cell phones, so any claims that will attract repair or replacement is a payable obligation.
In the year 2019 they actually paid $1.9 million for repairs and replacements.
So the journal entry to be passed is DR Warranty Payable $1.9m; CR Cash $1.9m.
