Examples of current liabilities include:
1. accounts payable
2. taxes
3. Interest payable
4. Accrued expenses.
Current liabilities are those expenses due within 12 months or less. All other liabilities are reported as long-term liabilities. For a business, they must have enough current assets (cash, sales) to cover current liabilities.
Answer:
The machine will enter as 148,480
Explanation:
We should enter the machine as the sum of all cost incurred to get the machine ready for use in behalf of the company.
Purchase cost: 136,000 x (1 - 0.02) = 133,280
shipping cost: (freigh-in) 3,600
installation cost: <u> 11,600 </u>
Total cost: 148,480
The damages will be cost of the period, therefore expenses.
It weren't necessary for the installation of the machine.
Answer:
Gross A/R 1,085,000
Allowance<u> (110,000) </u>
Net A/R 975,000
Explanation:
Before allowance for uncollectible accounts:
This means we are asked for the gross accounts receivable:
beginning A/R + net credit sales - collection - write-off accounts:
650,000 + (2,700,000 - 75,000) - 2,150,000 - 40,000 = 1,085,000
Gross A/R 1,085,000
Allowance<u> (110,000) </u>
Net A/R 975,000
Answer:
YTM is 6.90%
Explanation:
The yield to maturity on the bond can be computed using the rate formula in excel.
=rate(nper,pmt,-pv,fv)
nper is the time to maturity of 20 years multiplied by 2 since the bond is paying interest on semi-annual basis
pmt is the semi-annual interest receivable by investor which 6.8%/2*$1000=$34
pv is the current market price of $989.45
fv is the face value of $1000
=rate(40,34,-989.45,1000)
rate=3.45%
The 3,45% is the semi-annual YTM, whereas the annual YTM 3.45%
*2=6.90%
Answer: should be protected due to the fact that their account is insured by FDIC.
Explanation:
From the question, we are informed that after Xavier and Alyssa deposited nearly $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy but that the Bigbux was an FDIC member bank.
Based on the above scenario, Xavier and Alyssa should be protected due to the fact that their account is insured by FDIC. Since the bank is insured, their money is safe.
