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Darya [45]
4 years ago
7

A town's garbage trucks accidentally sideswiped two parked automobiles in the fiscal year ended December 31, 2019. One case was

settled for $3,000 in 2019, and the town expects to pay that claim in January 2020. In the other case, the claimant originally demanded $15,000. The town attorney thinks they can settle the claim for $10,000, but it probably will take two years to settle the case. What amount should the town report as a claims liability on the General Fund December 31, 2019 balance sheet?
Business
1 answer:
asambeis [7]4 years ago
7 0

Answer:

The answer is "$13,000".

Explanation:

In the given question, From December 31, 2019, the sum should also be $13,000 as just a liability for both the general fund. Its first village owner is $3000 as well as the second villager is $10,000, because their contingent liability is registered to a fair degree, that's why its correct answer is "$13,000".

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Junkyard Arts, Inc., had earnings of $593,900 for the year.
PIT_PIT [208]

Answer:

The basic EPS is $11.50

Explanation:

The basic earnings per share is the amount of net income that is earned per share of common equity or the amount of net income attributable to each share of common stock. The basic earnings per share (EPS) is calculated using the following formula,

Basic EPS = (Net Income - Preferred stock dividend) / Weighted average number of common shares outstanding

The preferred stock dividend for the period was = 7 * 2700 = 18900

Basic EPS = (593900 - 18900) / 50000

Basic EPS = $11.50

8 0
4 years ago
If a bank that desires to hold no excess reserves and has just enough reserves to meet the required reserve ratio of 15 percent
maria [59]

Answer:

c

Explanation:

Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank

Required reserves = reserve requirement x deposits

0.2 x $100,000 = $20,000

Excess reserves is the difference between reserves and required reserves

Required reserves = 0.15 x 600 = 90

Excess reserves = 600 - 90 = 510

8 0
3 years ago
One year ago, you purchased 100 shares of a stock. This morning you sold those shares and realized a total return of 8.2 percent
earnstyle [38]

Answer: e. sum of the dividend yield and the capital gains yields is 8.2 percent

Explanation:

The return of 8.2% that was realized is the sum of the dividend yield and the capital gains yield.

The dividend yield refers to the income earned from dividends issued by the company whose stock you owned divided by the stock price.

The capital yield is the change in price since you bought the stock for instance, buying the stock at a price of $15 and it is now worth $20.

These two yields will combine to give you the return of 8.2% that you realized.

8 0
3 years ago
"Drew Savage is an MIS manager for an international consulting firm. Drew travels to different European countries where he imple
Yuliya22 [10]

Answer:

Efficiency metrics.

Explanation:

Efficiency metrics is the extent to which a firm is using its resources in an optimal way, getting the most of its resources. Measure the performance of MIS itself, such as throughput, transaction speed, and system availability.

Characteristis:

-Throughput. the amount of information that can travel through a system.

-Transaction spead. the amount of time a system takes to peforme a transaction.

-System availability. the number of hours a system is available.

-Information accuracy. how often a system generates the correct results when doing the same transaction many times.

-Response time. how long it takes to respond to user interactions.

5 0
4 years ago
EvenFlo Pipes forecasts a small increase in sales next year. To achieve this growth in sales, however, the firm must purchase an
TEA [102]

Answer: a. The firm must purchase lumpy assets to achieve the increase in sales.

Explanation:

EvenFlo Pipes needs to sell more pipes in order to see an increase in sales. Assuming they are the producers, they will need to produce more pipes than they have been doing and this will need them to increase their production capacity.

To do so they would have to invest in fixed assets as these are what produce pipes. This is why the firm will have to purchase lumpy assets that will help them produce and sell more pipes.

3 0
3 years ago
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