Answer:
contingent liabilities are journalized when they are both probable and estimable.
EPA's fine, states it is probable it will stand.
Damage awards and fines DR $248,000
Contingent Liability-fines CR $248,000
Out of court settlement for $130,000. Although since the settlement was just reached, we would just use a payable account.
Damage awards and finesDR $130,000
Awards payable CR $130,000
The homeowner lawsuit is not thought to be a strong case, plus the amount of any actual damages is unforeseeable, therefore a journal entry would not normally be needed at all. Although those would still be disclosed to shareholders on financial statements.
Answer: C. $250
Explanation: fixed cost are cost which do not change even when other factors Change. Example of fixed cost is ‘rent’ even if the employees increase up to a 100 this variable won't affect the cost of rent which is $250. Unlike salary that increases with an increase in workers.
Labour cost per day of hiring two workers = $80 x 2 = $160
Total cost per day when three
workers are hires. This includes both the fixed cost and labour cost
Total Cost = fixed cost + labor cost
= $250 + $80 x 3
= $490.
Answer:
Yeah it's good in some ways coz it helps in life time but sometimes it's useless coz even if you finish your college sonetimes it's hard to find a job
Answer:
Offshoring
Explanation:
offshoring is the process of moving an aspect of a business process overseas with the intention of reducing cost.
A firm can move its manufacturing process from its own parent country to another country (usually where the labour rate and cost of raw materials is cheap compared to what it obtainable in its home country) in other to reduce its cost of production thereby increasing its added value.
From the above explanation, we can conclude that Prextos is planning to employ Offshoring to cut down losses.
Answer:
$400,000
Explanation:
Total sales × Percentage of sales
=$30,000,000 X 0.02%
= $600,000
($600,000 - $200,000)
= $400,000
Therefore the amount (if any) that Sony should report as a liability at the end of the year will be $400,000
