Answer:
$300 i.e irrecoverable cost of old printer
Explanation:
Sunk costs refer to those costs incurred in the past which can no longer be recovered. Such costs are considered as irrelevant in decision making process since they have no current or future implications.
For example, research and development costs incurred by an enterprise in the past represent sunk costs since those costs can no longer be recovered and secondly have no current or future implications w.r.t investment decisions.
In the given case, the cost incurred in purchase of old printer is a sunk cost, incurred in the past. The irrecoverable part of the said cost i.e $350 less $50 i.e $300 represents sunk cost. Also, the expenditure on old printer's cartridges which costed $80 apiece would be regarded as a sunk cost.
This cost of $300 cannot be recovered and would be considered irrelevant w.r.t the decision of purchasing a new advanced printer.
Answer:
This is an actual court case where the Supreme Court of Rhode Island ruled in favor of Cox Communications in February, 2014.
The court ruled that Ovalles was an employee for M&M, and that M&M had an independent contractor relationship with Cox Communications. Additionally, Ovalles was also an independent contractor for M&M, not an employee. There existed no direct relationnship between Cox and Ovalles.
Even though Ovalles and other independent contractors use both Cox's and M&M's logos on their vans and uniforms, this was done so consumers could identify them. The fact that an identification is needed so customers can determine the function of a technician, doesn't imply that those technicians are actually employees of the firm nor they actually a method of control over the technicians.
Since Cox didn't control the performance of Ovalles and didn't have contact with him, then there was no reason to consider him an employee of Cox.
The plaintiff, Barbara Cayer probably made a mistake when it included Cox in the lawsuit (since it is a large company), and she would have had a better case against M&M because that company did have control over Ovalles's performance and did have contact with him. But since M&M was a much smaller firm, they decided to go after the big fish. Later they tried to include M&M into the lawsuit but it was rejected since the Supreme Court had not made their ruling yet.
Answer:
Every File Has Only One Home
Use Color As An Alert
Raising The Bar On File Tracking
insert an “OUT” Guide whenever a folder is removed from the filing area
Answer:
Find below the requirement of the question:
Indicate the transaction price for each of these transactions and when revenue will be recognized.
1.At the time of delivery-$919,000
2 At the time of delivery-$770,000
3.At the time of delivery-$443,700
Explanation:
Generally speaking, from IFRS and U.S GAAP standpoint,revenue should be recognized when the seller has delivered goods to the customer or when services have been rendered,in essence the revenue recognition time is at the time of delivery for the three situations.
However,the amount to be recognized differs from one situation to the other,hence $919,000 should be recognized in the first instance and $770,000 in the second situation.
Finally,only the present value or present worth is recognized in the third situation as that reflect the fair value of goods sold.