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4 years ago

What are examples of current liability in accounting

Business

1 answer:

aliina [53]4 years ago

6 0

Examples of current liabilities include:

1. accounts payable

2. taxes

3. Interest payable

4. Accrued expenses.

Current liabilities are those expenses due within 12 months or less. All other liabilities are reported as long-term liabilities. For a business, they must have enough current assets (cash, sales) to cover current liabilities.

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Your company, a sole proprietorship, has assets of $34,583 and liabilities of $55,867. you decide to liquidate the company. assu

yanalaym [24]

A sole proprietor is personally liable for the liabilities which remain unpaid after the utilization of assets. In the given case the sole proprietorship has total assets of $34,583 and liabilities of $55,867. It means total assets can be used to pay off $34,583 out of total liabilities of $55,867 and the proprietor shall be personally liable for the balance liabilities= 55867-34583 = $21,284

Hence, you are personally liable for <u>$21,284</u>

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4 years ago

Assume that you would like to purchase 100 shares of preferred stock that pays an annual dividend of $6.00 per share. However, y

butalik [34]

Answer:

$267.1211

Explanation:

return on preference share per unit is $6 , thus at 12% annual rate of return. Initial value of preference shares will be $50 per unit ( $6 divided by 12%).

Total value of preference shares = $50 multiplied by 100 preference shares = $5000

Future value of preference shares = 5000 (1.12)^5 = $8,811.7084

to find the value of money to be deposited to be able to buy the preference shares at the end of 5 yrs.

we work back to get the present value using the mutual fund annual rate

$8811.7084 = pv (1.06)^60 the rate is compounded monthly. Hence we shall compound the return 60 times in 5 years

Bank account money = 8811.7084 divided by 32.9877 = $267.1211

5 0

3 years ago

The severalty owner of a parcel of land sells it to a buyer. The buyer insists that the owner's wife join in signing the deed. T

choli [55]

Answer:

A. Waive any marital on homestead rights

Explanation:

According to my research on different realty or property laws, I can say that based on the information provided within the question the purpose of obtaining the wife's signature is to waive any marital on homestead rights. She would be signing a homestead waiver which is a document where the spouse of a homeowner gives up the statutory homestead rights under applicable state law.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0

3 years ago

Suppose you deposited $2,000 in a savings account. If you have $2,600 in the account after 4 years, what interest rate did you e

Slav-nsk [51]

Answer:

6.78% per year.

Explanation:

Assuming compounding occurs only once a year, the interest rate 'r' required on a $2,000 investment for 4 years to yield $2,600 is determined by:

$FV = PV*(1+r)^n\\2,600 = 2,000*(1+r)^4\\r=\sqrt[4]{\frac{2,600}{2,000}}-1\\ r=0.06779=6.78\%$

The interest rate earned on those savings was 6.78% per year.

6 0

3 years ago

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julia-pushkina [17]

Explanation:

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3 years ago