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pantera1 [17]
3 years ago
7

Haley is a corporate certified public accountant (CPA) working on a new budget. When she lists the company’s liabilities, which

of the following will she include? Entry field with incorrect answer Computer software Owners’ equity Marketable securities Employees’ wages and salaries
Business
1 answer:
pshichka [43]3 years ago
8 0

Answer:

None of the listed items would fall under the category of a liability

Explanation:

A liability is a present obligation that entails an outflow of economic resources (e.g cash) to settle. For an item to be classified as a liability it must relate to an event that had happened (i.e in the past) and not the future.

Computer software is likely an asset of a company. The payment for same, if not made already, can then be a liability.

Owners' equity is a contribution by the owner to further the business objectives.

Marketable securities are assets of the company, precisely current assets since it is assumed that they can be convertible to cash in a short while.

Employees' wages and salaries are expenses. It is only when they have not been paid as at when due i.e when the performance obligation has been satisfied (e.g workers have worked for a full month to which the salary relates) that it becomes a liability.

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The Seattle Corporation has been presented with an investment opportunity which will yield cash flows of $30,000 per year in Yea
Sergio [31]

Answer:

payback period = 4.86 years

Explanation:

given data

cash flows year 1 = $30,000 per year

cash flows year 5 = $35,000 per year

cash flows year 10 = $40,000 per year

investment cost = $150,000

to find out

payback period for this investment

solution

we get here accumulated inflows will be

accumulated inflows year 4 =  $30,000 × 4

accumulated inflows year 4 = $120,000

and

accumulated inflows year 5 = $120,000 + $35,000 = $155,000

and Initial investment = $150,000

so payback period will be

payback period = 4 years + (150,000 - 120,000)  ÷ 35,000 × 365 days

payback period = 4 years and 313 days

payback period = 4.86 years

3 0
3 years ago
Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labo
Rzqust [24]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours.

T 498:

Total direct labor-hours 80

First, we need to calculate the estimated manufacturing overhead rate for the period:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (497,000/70,000) + 2.4= $9.5 per direct labor hour.

Now we can allocate the overhead to Job 498:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 9.5*80= $760

3 0
3 years ago
*Will award Brainliest if right!*
Serhud [2]

Answer:

https://quiz   let.co  m/96700748/chapter-4-flash-cards/

Explanation:

Link above provides answers

( Don't copy paraprashe)

8 0
2 years ago
Read 2 more answers
Wheeling Inc. uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the aging a
Nookie1986 [14]

Answer:

$8,020

Explanation:

estimated uncollectible receivables = $7,100

accounts receivables = $121,000

unadjusted debit balance of allowance for uncollectible accounts = $920

credit sales during the year = $192,000

bad debt expense = unadjusted debit balance + estimated uncollectible receivables = $7,100 + $920 = $8,020

the adjusting journal entry:

Dr Bad debt expense 8,020

    Cr Allowance for uncollectible accounts 8,020

The allowance for uncollectible accounts account is a contra asset account that has a normal credit balance.

4 0
2 years ago
Harriet used her credit card to buy a $779 laptop, which she paid off by making identical monthly payments for two and a half ye
pshichka [43]

Interest is the charge that is levied on the principal at a fixed percentage. The percentage of interest in the lifetime cost of the laptop is 13.7%.

<h3>What is interest?</h3>

Interest is the payment that the borrower incurs as a percentage of the principal for borrowing money.

Compound interest refers to the interest calculated on the principal and the interest up to the current interest period. The compound interest can be calculated using the formula:

\rm Compound\:interest = P(1+ \dfrac{r}{n})^{nt} - P  , where P is the principal amount, r is the rate of interest, n is the number of times the interest is compounded, and t is the tenure. The total number of period is represented as nt.

The total lifetime cost of the laptop will be the combination of its purchase price, interest, and electricity expense.

Given,

The value of the laptop (P) is $779

The number of years of the loan is 2.5 years.

The APR is 11.27%.

The interest on the laptop will be:

\rm Compound\:interest = P(1+ \dfrac{r}{n})^{nt} - P\\\\\rm Compound\:interest = \$779(1+ \dfrac{0.1127}{12})^{(12)(2.5)} - \$779\\\\\rm Compound\:interest = \$779(1.0094)^{30} - \$779\\\\\rm Compound\:interest = \$779(1.3237) - \$779\\\\\rm Compound\:interest = \$1031.167 - \$779\\\\\rm Compound\:interest = \$252.167

The electricity charges for 6 years will be calculated as the product of electricity charges per day and the number of days in 6 years.

Total number of days will be calculated as:

\rm Total\:number\:of\:days = (365 \times 4) + (366 \times 2)\\\\\rm Total\:number\:of\:days = 2192 \:days

Therefore electricity charges will be:

\rm Electricity \:charges = 2192 \times \$0.36\\\\\rm Electricity \:charges = \$789.12

Hence the total lifetime value of the laptop is:

\rm Total\: lifetime \:value = \$779 + \$252.167 + \$789.12\\\\\rm Total\: lifetime \:value = \$1830.287

The percentage of interest in total lifetime value is:

\rm Percentage\:of\:interest = \dfrac{Interest}{Total\: lifetime \:value}\times 100\\\\\rm Percentage\:of\:interest = \dfrac{252.167}{1830.287}\times 100\\\\\rm Percentage\:of\:interest = 13.7\%

The difference in answers could be a result of rounding. Therefore the correct option is b.

Learn more about interest here:

brainly.com/question/4605117

3 0
2 years ago
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