Gavin invested $40,000 in the Jason and Kelly Partnership for ownership equity of $40,000. Prior to the investment, land was rev
alued to a market value of $363,000 from a book value of $174,000. Jason and Kelly share net income in a 1:2 ratio. a. Provide the journal entry for the revaluation of land. If an amount box does not require an entry, leave it blank.
Option C The degree of uncertainty about the actual outcome of a decision.
Explanation:
The reason is that risk is the vulnerability of an desired outcome and which can be measured. So if toss a coin there are 50% chances that head will appear and I will loose money and 50 percent chances that tail will appear and I win money. So undesired outcome here is head appearing because I will loose money and it has 50% chances. So risk result in undesired outcome in an uncertain environment.
Warranty liability is a liability account used to report the expected amount of repairing or replacing products already shipped. It's a contingency liability and it should be recorded independently from the actual warranty costs. Therefore, warranty liability, in this case, is:
$600,000 * 0.05 = $30,000
The estimated warranty liability reported in the balance sheet this year is $30,000
b. Part of both the performance measurement system and the performance reward system
Explanation:
Both are linked according to the objectives and golas.
Performance measure is a quantifiable expression of the amount, cost, or result of activities that indicate how much, how well, and at what level, products or services are provided to customers during a given time period.
Performance and reward strategies are driven by the concept that employees are not inherently born with the desire to come to work and put in their maximum effort every day for no reason at all. ... An effective performance and reward strategy aligns with organizational goals and objectives
The direct approach provides a clearer overview of how a company receives currency. And therefore it is regarded as equivalent to the alternative manner.
Compared to the price of something like the money market account throughout the particular circumstance, the above direct method of registering cash balance somewhat from operations would be advised.
