Answer:
More candy being bought that is the same brand.
Explanation:
Answer:
See below
Explanation:
The donation will increase the assets and the owners' equity. Land and building are assets. An increase in assets is debited.
Donations received are equivalent to 'income' to the business. They add to equity. An increase in equity/capital accounts is credited.
The journal entry will be
Land A/c DR. $39,000
Building A/c DR.$395,000
Donations received A/c CR.$434,000
Answer:
A farmer is the one that owns the cattle and is ready to sell it on the market demand, while the meatpacker is the one who buys the product and sells it in different parts to the end consumers.
Since they both are using the commodity market to reduce the risk, the farmer will be the one who agrees to sell the cattle in the future at a fixed rate, while the meatpacker will be the one who agrees to buy the cattle in the future at a specified price fixed by him.
Hope this helps. ThankYou.
Answer:
E) brainstorming.
Explanation:
Based on the scenario being described within the question it can be said that in this situation Zach is using the technique of brainstorming. This term refers to a group creativity technique in which members of the organization come together and spontaneously contribute any and all ideas they may have towards solving a specific problem that the organization is facing.
If a contingency is likely and its financial impact can be assessed with reasonable certainty, a contingent obligation must be recorded. Three types of contingent liabilities are recognized by GAAP.
A contingent liability is what?
A contingent obligation is a responsibility that might materialize based on how a future event plays out. If a contingency is likely and the liability's amount can be anticipated with reasonable certainty, contingent liabilities are recorded. Unless all requirements are not met, the obligation may be mentioned in a footnote to the financial statements.
When Must I Recognize Contingent Liability?
You must be aware of the contingent responsibilities you have assumed if you own a firm or manage its finances. These also need to be recorded. Companies must record contingent liabilities in accordance with the three accounting principles of full disclosure, materiality, and prudence under both IFRS and GAAP (international financial reporting standards).
To learn more about contingent liability from the given link.
brainly.com/question/17963028
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