Answer:
The answer is <u>KS 1.01/EB</u>.
Explanation:
This is an example of a cross rate.
Cross rate refers to an exchange rate between two currencies that is calculated based on the exchange rate of each of the two currencies to a third currency.
For this question, the cross rate KS/EB will be estimated by reference the US dollar which is third currency. This can be calculated by simply dividing the KS 1.4/$ by the E B1.39/$ as follows:
KS/EB = 1.4 / 1.39 = 1.01
That is, the answer is <u>KS 1.01/EB</u>.
<span>Using the numbers as written in the corresponding question, you would subtract 20,000 from 100,000 to get your amount of net profit. The 100k and the 20k are original sales figures, with the 100 being total sales and the 20 being sales returns. After subtracting the total returns you are left with net profit of 80k. You would then multiply the 80k by 1% to get your amount for bad debts. The total would be $800 of bad debt expenses (debts)..</span>
Jasper could most certainly claim depreciation on the computer that is, 50% of it plus 50% of the purchase price and I know because I am self-employed too and I know that legitimate office expenses like a new printer, printer paper etc can be claimed according to the amount used for the business.
Answer:
is made if it is more likely than not that the liability has been incurred.
Explanation:
When contingent liability is recorded it is recorded by debiting income statement and creating a liability in balance sheet, also it is not accounted for until the amount of liability is pretty certain as without being clear about its occurrence and the amount involved the liability cannot be recorded.
There is no such loss account, there exists only income statement.
Therefore, with the above we can conclude that contingent liability is recorded only if:
is made if it is more likely than not that the liability has been incurred.
Answer:
The Cool Sky product cost per unit is $102.
Explanation:
To determine the product cost per unit using the absorption costing we find the per unit rate for Fixed Overheads for the year as follows,
Total Fixed overheads for the year / Units produced during the year
$528,000 / 44,000 unit = $12 per unit.
Total Cost per unit = Direct Material per unit + Direct labor per unit + Variable overhead per unit + Fixed Overhead per unit.
Total Cost per unit = $60 + $22 + $8 + $12
Total Cost per unit = $102 per unit.
