Option C
This practice is an example of: anchoring
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Explanation:</u></h3>
Anchoring is the effectiveness of unrelated knowledge, such as the acquisition cost of safety, as a reference for estimating or predicting an unknown value of a financial means. Anchoring can be prompt with applicable metrics, such as valuation multiples.
During decision making, anchoring transpires when individuals use a fundamental piece of information to obtain consequent judgments. Once an anchor is established, other judgments are formed by adjusting incessantly from that anchor, and there is a preference proceeding evaluating other information encompassing the anchor.
Answer:
Bloomington Inc.
Indication of Liability Amount on the Balance Sheet at December 31, 2019:
Situation Liability Amount
a. $220,000
b. $0
c. $3,100
d. $0
Explanation:
For Bloomington to recognize a liability or record it in its financial statements, the probability that an outflow of economic resources will occur in the future must be established. Bloomington must also be able to reliably measure the amount of the liability. These two conditions are satisfied in situations A and C. For situation B, the contract is not in force as at December 31, 2019, since the drill press will be purchased in January, 2020. Lastly, for situation D, the amount of the profit-sharing bonus cannot be reasonably and reliably ascertained because the amount to apply the 5% is not clear or known.
You'll have to give me the options.
Answer:
Fixed weekly pay
Explanation:
The Walling v. A.H. specified weekly salary for variable employees job challenge for flexible workers Ruling document of the Belo Company Supreme Court. Workers who work varying workweeks receive a set wage, irrespective about how many times per week may work. For starters, if they operated 35 or 40 hours, the employee should receive the same weekly wage. Therefore, the hourly wage of a salaried employee differs depending according to how many hours they work.
Answer:
$420,000
Explanation:
According to the question for computation of total stockholders' equity first we need to find out the addition to retained earning during 2019 which is shown below:-
Addition to retained earnings during 2019 = Net income - Cash dividend - Stock dividend
= $40,000 - $8,000 - $10,000
= $22,000
Total stockholders equity at December 31, 2019 = Stockholders equity, December 31, 2018 + Addition to retained earnings during 2019 + Stock dividend + Issue of new common stock - Purchase of Treasury stock
= $340,000 + $22,000 + $10,000 + $60,000 - $12,000
= $432,000 - $12,000
= $420,000
