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3 years ago

obligations not expected to be paid within the longer of one year or the company's operating cycle are reported as

Business

1 answer:

Black_prince [1.1K]3 years ago

3 0

Answer:

Long term liabilities.

Explanation:

This can be easily or mostly be used in companies and also firms. In most cases they are been tagged a non-current liability.

They are generally defined to be obligations that are not been settled for/paid off in the current year or accounting period. Therefore, debts of this kind are not due within a year. Dept of this kind ranges from notes payable to bonds payable, also mortgages and are also seen as leases in a company settings.

In as much as this is not good for a company's financial health, investors and creditors see how the company is financed through this. Current obligations are seen to be more risky than non-current debts because they will need to be paid sooner.

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Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to

slega [8]

Answer:

Contribution is sales revenue less variable cost. In multiple products environment, it is important that the producer have information about the performance of each product. This is useful for decision making purpose. See income statement below

Explanation:

An income statement showing contribution would suffice:

Royal Lawrence Company

Income statement

Weedban Greengrow Total

$ $ $

Sales (sp/unit × unit) 315,000 900,000 1,215,000

Variable cost (Vc/unit × units) (98,000) (325,000) (423,000)

Contribution 217,000 575,000 792,000

Specific fixed cost (132,000) (37,000) (169,000)

Product profit 85,000 538,000 623,000

Common Fixed cost (100,000)

Total profit 523,000 

4 0

3 years ago

Read 2 more answers

What are the four challenges associated with telecommuting mentioned in the article

OlgaM077 [116]

Answer:

It decreases the interaction of humans. It also blurs work and personal life. It also create difficulties in demonstrating workload. It enables technology to get in the way.

Explanation:

Generally, the applications of telecommunication and devices are accompanied by both positive and negative effects. It makes communication easy and transfer of information efficient. There are also negative effects of the use of telecommunication as outlined in the answer section above.

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3 years ago

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In which situation would it be better to use a credit card instead of cash?

bonufazy [111]

Computer, its a larger amount of money to pay so it would be best there

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3 years ago

As of December 31, Year 1, Flowers Company had total assets of $220,000, total liabilities of $66,000, and common stock of $110,

liberstina [14]

Answer:

(b) After-closing balance in the Retained Earnings account on December 31, Year 1,

Total Stockholder's equity = Total assets - Total liabilities

= $220,000 - $66,000

= $154,000

After-closing balance of Retained Earnings = Total Stockholder's equity - Common stock

= $154,000 - $110,000

= $44,000

(a) Before-closing balance in the Retained Earnings account on December 31, Year 1.

Net Income = Revenue - Expenses

= $40,000 - $23,000

= $17,000

Before-closing balance of Retained Earnings:

= After-closing balance of Retained Earnings + Dividend paid - Net Income

= $44,000 + $3,200 - $17,000

= $30,200

(c) Before-closing balances in the following accounts:

Revenue = $40,000

Expenses = $23,000

Dividend = $3,200

(d) After-closing balances in the following accounts:

Revenue = $0

Expenses = $0

Dividend = $0

Because revenue and expenses are transferred to income statement and dividend are transferred to retained earnings.

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3 years ago

Which person(s) should decide upon the problem statement the team will be working toward? The team’s leader

Basile [38]

Which person should decide upon the problem statement the team will be working toward? All group members. All group members should be working towards the problem statement, problems, and anything resulting a team project. The project is in a team format for a reason, so that everyone works together.

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4 years ago