Answer:
amortised loan
Explanation:
Letitia borrowed money from the bank, and according to the loan regulations, she has to pay an equal amount for the rest of two years, which shows that it is a type of amortised loan. In amortised loan customers pay back the loan in stages, and they pay that according to the criteria of the bank.
Answer:
B. $ 17 comma 100
Explanation:
The movements in inventory account is usually as a result of purchases, sales, returns etc. These are the factors that bring about a difference between the opening and closing balances in the inventory account.
Given that
Beginning Finished Goods Inventory = $14000
Ending Finished Goods Inventory = $14500
Cost of Goods Manufactured = $17600
Sales revenue = $15000
Let the cost of goods sold be B
$14000 + $17600 - B = $14500
B = $14000 + $17600 - $14500
B = $17100
The cost of goods sold is $17100
Answer:
Huprey Co.
Identifying the accounting treatment for each claim as either (a) a liability that is recorded or (b) an item described in notes to its financial statements:
1. Huprey (defendant) estimates that a pending lawsuit could result in damages of $1,550,000; it is unlikely that the plaintiff will win the case.a. A liability that is recorded.
b. An item described in notes to its financial statements.
2. Huprey faces a loss on a pending lawsuit that it is unlikely to lose; the amount is reasonably estimable.
a. An item described in notes to its financial statements. b. A liability that is recorded.
3. Huprey faces a probable loss on a pending lawsuit; the amount is reasonably estimable.a. An item described in notes to its financial statements.
b. A liability that is recorded.
Explanation:
Huprey Co. will recognize and record contingent liabilities in its accounts when it can be reasonably established that the future event will occur and the amount of the liability can be reasonably estimated. The implication is that Huprey Co. must establish two things before a contingent liability is recognized and recorded. One is that the probability or the likelihood or the chance that the event will happen exists and can be estimated. With the probability estimate, it becomes possible for Huprey Co. to also estimate the amount that the happening of the event will cost it.
Answer:
Cross- functional team
Explanation:
Cross- functional team, is the team which is defined as the group of people who came together with the different functional expertise of working against the common goal.
This team may involve the people from human resources, finance, operations and marketing department.
It occurs when the specialist from different areas are put on the same team. So, in this case, XYZ bring together the specialist, which implies that the firm is creating the team of cross- function.
