You create a screen shot illustrating what the new system will potentially look like. this is an example of __________

In compliance with new policies, banks increased rate of interest on housing loans. Gregory’s real estate business started suffe

Tju [1.3M]

Answer:

Financial Risk

Explanation:

8 0

3 years ago

Carnes Electronics sells consumer electronics that carry a 90-day manufacturer’s warranty. At the time of purchase, customers ar

saw5 [17]

Answer: See explanation

Explanation:

a. This is not a loss contingency. A loss contingency occurs when the value of an asset is reduced because of an occurence on the future. This isn't the case here as a separate sales transaction occured.

b. To account for it, we have to defer the revenue as a liability and then we will use the straight line basis to calculate the warranty expense.

2. Dr Cash $412,000

Cr Unearned revenue - extended warranties $ 412,000

(To record the sale of extended warranty)

Dr Unearned revenue - extended warranties. $57937.50

Cr. Revenue - Extended Warranties $57937.50

(To record revenue earned on extended warranty)

3 0

3 years ago

First Financial Auto Loan Department wishes to know the payment required at the first of each month on a $10,500, 48-month, 11%

julia-pushkina [17]

Answer:

First Financial would divide the $10,500 loan by the present value of annuity due of 1.

The correct answer is C

Explanation:

Present value of annuity formula is used for determining the amount of loan payment. Since the payments will be made at the beginning of each month, we will apply the formula for present value of annuity due. In order to determine the amount of monthly payment, we will divide the principal by the present value of annuity due of 1.

7 0

3 years ago

On January 2, 2020, Sheffield Corp. began construction of a new citrus processing plant. The automated plant was finished and re

djverab [1.8K]

Answer:

1. What were the weighted-average accumulated expenditures for 2020?

c. $1,200,000

$600,000 x 12/12 (from January to December) = $600,000

$1,800,000 x 4/12 (from October to December) = $600,000

total $1,200,000

2. The interest capitalized for 2020 was:

b. $144,000

$1,200,000 x 12% = $144,000

3. What were the weighted-average accumulated expenditures for 2021 by the end of the construction period?

d. $4,158,000

$600,000 x 9/12 (from January to September) = $450,000

$1,800,000 x 9/12 (from January to September) = $1,350,000

$144,000 x 9/12 (from October to December) = $108,000

$1,800,000 x 6/12 (from April to September) = $900,000

total $4,158,000

4. The interest capitalized for 2021 was:

b. $354,915

$3,300,000 x 12% x 9/12 = $297,000

($4,158,000 - $3,300,000) x 9% x 9/12 = $57,915

total $354,915

4 0

3 years ago

The action of keeping financial accounts is called PLEASE HELP

Alex

Answer:

How Accounting Works

Accounting is one of the key functions for almost any business. It may be handled by a bookkeeper or an accountant at a small firm, or by sizable finance departments with dozens of employees at larger companies. The reports generated by various streams of accounting, such as cost accounting and managerial accounting, are invaluable in helping management make informed business decisions.

Explanation:

6 0

3 years ago

You create a screen shot illustrating what the new system will potentially look like. this is an example of ___________.