Answer:
C) $10,000
Explanation:
The last interest payment was made on November 1, so by December 31, two months worth of interest is considered receivable.
Interest receivable = principal x interest rate x time periods = $500,000 x 12% x (2/12) = $10,000
By December 31, no principal payments had been done yet.
Answer:
Mercury Company
Sale of Equipment account:
Equipment $150,000
Acc. Depreciation 112,000
Book value $38,000
Cash received $38,000
Explanation:
a) Data and Calculations:
Equipment Account:
Beginning balance $750,000
Ending balance 600,000
Sale of equipment $150,000
Accumulated Depreciation - Equipment account:
Beginning balance $500,000
Depreciation expense 40,000
Ending balance 428,000
Sale of Equipment $112,000
b) The Cash received from the sale of Mercury Company's equipment is equal to the book value in Year 2 according to the question. Since the book value (value after accumulated depreciation) is $38,000, that means that the equipment was sold at $38,000 recording no profit or loss for the company on the sale.
Answer:
It must involve the transfer of resources to another entity.
Explanation:
A liability is defined as an obligation of future outflow of economic benefits that arise as a result of past actions either through sales , exchange of assets or services , or any other business related events.
Before a liability can be recognized , it must satisfy these three conditions
- It must involve probable outflow of economic resources
- A present obligation that arose as a result of past transactions
- It must involve a transfer of resources to another entity
Answer:
- Tax Examiner
-
Equal Opportunity Representative
Explanation:
Usually tax examiners perform tasks like: reviewing tax returns, contacting taxpayers, verify data through audits, evaluation financial information, notifying taxpayers about overpayments or underpayments.
Equal opportunity representative main role is to monitor and evaluate compliance with equal opportunity laws, which means that they must investigate employment practices or alleged violations of the Equal Opportunity Act and other laws and regulations that prohibit work discrimination.
Answer: (C) Physical
Explanation:
The physical is one of the type of component pf the cultural intelligence that is specifically used for understanding the capabilities for effectively managing the work.
The cultural intelligence helps in encouraging, motivating and also support the employees in the company.
According to the given example, the Sam is known as the great communicator skills which include the body language, shift the pattern of the speech and also the expression.
Therefore, Sam is showing his strongest side by managing the physical cultural intelligence.
