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morpeh [17]
3 years ago
11

Gus takes his $15 in lemonade stand earnings and deposits it into his savings account. Meanwhile, Gus’s dad borrows $20,000 to b

uy a new family car. Gus’s $15 represents a(n) ____ for the bank, while his dad’s $20,000 loan represents a(n) ____ for the bank
Business
1 answer:
tresset_1 [31]3 years ago
8 0

Answer:

<u>liability</u>, <u>asset </u>

Explanation:

Liability refers to a future obligation in monetary form which must be discharged by a business. Liabilities are classified on the basis of due period into current and long term. For instance payment due to a supplier, loan for repayment.

Assets on the other hand refer to something which yields future economic benefits. Assets could be in tangible fixed form, movable form or intangibles such as Goodwill.

In the given case, from the purpose of bank, acceptance of deposits constitutes a liability since the bank has to pay such deposits whenever required by the customer.

Similarly, lendings by a bank represent an asset since the bank would receive such sum coupled with interest at a future date.

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What are the disadvantages if Jamir decides to purchase the car? Check all that apply.
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He will have to come up with a bigger down payment.

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Coolers Inc., a house appliances manufacturer, has upgraded its technology by making all its appliances work on voice sensors in
Margaret [11]

Answer: The correct answer is "3. platform project".

Explanation: This project is a platform project for Coolers Inc. because the change of voice sensors instead of remote controls or manual operations represents a change of platform for their products in which they have improved their technology.

6 0
3 years ago
Absorption and Variable Costing; Inventory Valuation Bondware Inc., has a highly automated assembly line that uses very little d
igor_vitrenko [27]

Answer:

Bondware Inc.

FIFO Inventory Method:

Ending Inventory (60 units):

Absorption Costing = $66,000

Variable Costing = $56,400

Explanation:

a) Data and Calculations:

Unit Production Costs for March:

Direct materials     $500

Variable overhead   440

Total variable cost $940

Fixed overhead        160

Total manufacturing

  costs per unit   $1,100

Calculation of Ending Units of Inventory:

Beginning units     100

Units produced = 500

Units sold =         (540)

Ending units =        60

Beginning Inventory, 100 units:

Absorption costing value = $90,000

Variable costing value = $76,000

FIFO Inventory Method:

Ending Inventory:

Absorption Costing = 60 * $1,100 = $66,000

Variable Costing = 60 * $940 =       $56,400

5 0
3 years ago
Astor Manufacturing stores hazardous and volatile chemicals in its warehouse. The warehouse has state-of-the-art equipment to ma
Wittaler [7]

Answer:

C. strictly liable for Will's injuries

Explanation:

In law, Strict liability is a situation when defendant is required to be responsible to a certain situation, but can't be considered as guilty to any violation.

There are two points that need to be highlighted from the case above:

1.  Astor Manufacturing process has fulfilled all of its safety regulation for storing the dangerous product.

2. The dangerous product owned by Astor Manufacturing caused William's injury.

The regulations for hazard management is created by the government, and the leak is not caused by their negligence. It's caused by unexpected natural disaster.  This is why we can't say that Astor is guilty to any violation.

But still, the chemical that they created injured William. The court will most likely force Astor to be responsible for all the medical expenses incurred by william.

6 0
3 years ago
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