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4 years ago

Outline the five-step sequence in a decision process

Business

1 answer:

Finger [1]4 years ago

5 0

1. Identify the problem

2. Gather data and information

3. Asses the situation and make predictions on alternative outcomes

4. Choose and act on an alternative

5. Implement the decision and evaluate how it went

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Rothbart Manufacturing agrees to manufacture bumper cars for 12 Banners Amusement Parks. Under the terms of the contract, 12 Ban

Norma-Jean [14]

Answer:

Rothbart Manufacturing

From the case study, Rothbart Manufacturing has incurred an equivalent cost of 80% in the manufacture of the bumper cars, it should then recognize revenue of $48,000 ($60,000 * 80%) under the percentage of completion method.

However, under the new IFRS 15 or ASC 606 Revenue from Contracts with Customers, Rothbart Manufacturing can only recognize revenue based on the fulfillment of the contract's performance obligations, evidenced by the transfer of the asset or some benefits to the buyer.

I do not see any transfer of benefits here. Instead of recognizing any revenue the current year, Rothbart Manufacturing should assign the cost incurred so far (80%) to Work in Process Inventory, which is a current asset. It can then recognize revenue when the bumper cars are sold.

Explanation:

The International Financial Reporting Standard (IFRS) 15 specifies when revenue from contracts with customers should be recognized. This standard is equivalent to the US Accounting Standard Code 606.

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4 years ago

Assume that Wizard Internet is operating as a general partnership, what is Caleb's personal tort liability for Anna's actions wi

shutvik [7]

Answer: The correct answer is "D. Caleb is personally jointly and severally liable along with Anna.".

Explanation: Caleb is personally jointly and severally liable along with Anna. When there is joint and several liability, a person has the right to claim payment of a debt or compensation for damage to any of those responsible or even all of them, without anyone being able to excuse themselves to evade their responsibility.

6 0

3 years ago

Swiss Group reports net income of $40,000 for 2019. At the beginning of 2019, Swiss Group had $200,000 in assets. By the end of

Sati [7]

Answer:

For the tear 2019, net income is 40,000

Beginning of the year 2019, asset of the S are 200,000

Ending of the year 2019, asset of the S are 300,000

Average asset for 2019= Beginning assets + Closing assets / 2

Average asset for 2019= 200,000 + 300,000 / 2

Average asset for 2019= $250,000

Return on assets = Net income / Average assets * 100%

= 40,000 / 250,000 * 100

=16%

Thus, the return on assets is 16%

Conclusion: If the average return of assets of the competitors are 11%, It means S uses the assets efficient manner, so performance of the S is very good ad return of the S is higher than competitors on asset

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3 years ago

Why do you think it's important to think about whether or not

Liula [17]

Answer:

Why do you think it's important to think about whether or not

you'd want to do the role responsibilities as they are listed in the

job description?

Explanation:

8 0

4 years ago

Read 2 more answers

X Company must replace one of its current machines with either Machine A or Machine B. The useful life of both machines is seven

Anastaziya [24]

Answer: 0 years

Explanation:

The payback period calculates the amount of time taken to recoup the initial investment made in a project or in the purchase of a machine or building. It calculates how long the cumulative cash flow generated from a project equals the cost of the project.

The payback period for both machines are zero years because the cumulative cash flow is less than the cost of the machine.

For machine A - cumulative cash flow- $-47,000 is less than -$71,000

For machine B - cumulative cash flow, -$7,000 is less than -$52,000

Explanations on how the figures were derived is found in the attached tables.

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4 years ago

Outline the​ five-step sequence in a decision​ process

Outline the five-step sequence in a decision process