The amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.
<h3>What is liability?</h3>
"At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the judgment during year 2. The remaining balance of the judgment includes $25,000 payable early in year 3 and $75,000 payable at the end of year 4. What amount should the government entity report as a liability for the judgment in its year2 governmental fund financial statements?
A) $500,000 B) $100,000 C) $75,000 D) $25,000
It should be noted that liability simply means the future sacrifices of economic benefit that an entity is obliged to make.
Here, the amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.
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Answer: When an organization uses an employment practice that results in unfavorable outcomes to a protected class it is known as the adverse impact principle.
This act takes place when a organization, wittingly or not, takes an action that will result in a individual's employment opportunity due to some elements beyond the individual's control.
Answer:
$135,010
Explanation:
Duration
January
February
March
Expected Sales
41,000
38,000
50,000
Add: Ending Inventory
(21%×38,000) 7,980
(21%×50,000) 10,500
(21%×51,000) 10,710
Less:Beginning Inventory
4,700
7,980
10,500
Units to be Produce
(7,980-4,700)+41,000=44,280
(10,500-7,980)+38,000=40,520
(10,710-10,500)+50,000= 50,210
Quarter in Total $135,010
Answer:
A. True
Explanation:
Examples of situations that individually or in combination would normally lead to a lease being classified as a finance lease are:
(a) the lease transfers ownership of the underlying asset to the lessee by the end of the lease term;
(b) the lessee has the option to purchase the underlying asset at a price that is expected to be sufficiently lower than the fair value at the date the option becomes exercisable for it to be reasonably certain, at the inception date, that the option will be exercised;
(c) the lease term is for the major part of the economic life of the underlying asset even if title is not transferred;
(d) at the inception date, the present value of the lease payments amounts to at least substantially all of the fair value of the underlying asset; and
(e) the underlying asset is of such a specialised nature that only the lessee can use it without major modifications.
Since at the time of lease the net present value of the payments is 88% of the actual market price and the useful life of the asset was 70% at the end of the lease term and also the title of asset shall not be transferred to lessee at the end of lease term, therefore the lease shall not be classify as finance lease and it shall be classified as operating lease so the answer is A. True
Answer:
the ex-dividend price is $108.66
Explanation:
The computation of the ex-dividend price is shown below:
The Aftertax dividend is
= Dividend × (1 - tax rate)
= $6.20 (1 - 0.30)
= $4.34
Now the exdividend price is
= Selling price of a share - after tax dividend
= $113 - $4.34
= $108.66
hence, the ex-dividend price is $108.66
We simply applied the above formula so that the correct value could come
And, the same is to be considered
