Answer:
c. Not accrued Disclosed.
Explanation:
The management has estimated the loss contingency of lawsuit as reasonably possible. The Contingent liability is reasonably possible then it will be disclosed in the Notes to Financial Statements and not accrued in Balance sheet. If the contingent liability is probable then the accrual needs to be made in the Balance Sheet.
Answer:
A gain of $16,100
Explanation:
When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal.
The carrying amount of an asset is the difference between the cost of the asset and the accumulated depreciation of the asset.
Carrying amount
= $22,000 - $6,600
= $15,400
Gain/(loss) on sale of asset
= $31,500 - $15,400
= $16,100
Answer:an automatic stabilizer because it falls as income increases, slowing an economic expansion
Explanation:Unemployment Compensation are benefits provided by government to serve as a temporary income when one loses his or her job through no fault of him or her.
The money partly helps one pay expenses while looking for new job
Unemployment compensation is a fiscal policy used as an Automatic stabilizers to stabilise fluctuations in a nation's economic activity.
Similarly, Unemployment compensation payments, falls when the economy is in a phase of expansion since there are few unemployed people filing claims for compensation and rise when the economy is high in recession and high rate of unemployment IE when there are many people filing claims for compensation.
Answer:
FV= $116,912.40
Explanation:
Giving the following information:
Initial investment= $82,000
Number of periods= 6*2= 12 semesters
Interest rate= 0.06/2 = 0.03
<u>To calculate the future value, we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 82,000*(1.03^12)
FV= $116,912.40
The greenback amount of net sales is b. $ 229.800
Total Gross sales $ 300,000
allowances $ 15,000
sales discounts 2 percent
credit card sales $ 100,000
Net sales are the sum of an agency's gross sales minus its returns, allowances, and reductions. internet income calculations are not continually obvious externally. they can regularly be factored into the reporting of pinnacle line revenues said on the profits announcement.
Net sales Gross sales are the price of all of an enterprise's sales transactions over a particular period of time without accounting for any deductions. Internet sales are a company's gross sales minus 3 varieties of deductions: allowances, reductions, and returns.
Net sales are your total sales fewer returns, allowances, and reductions. internet profits are your profits. It equals your net sales after subtracting all costs and adding any non-income revenue.
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