Answer:
The correct answer is C)
Explanation:
A pledge in this context is a vow or a promise to make a donation or give something at a future date. It may be vocalized or communicated in writing.
The Financial Accounting Standards Board (FASB), sets out the criteria for recognizing a pledge or a promise as follows:
- Relevance— If the promise is important enough to make a difference in the users decisions, then it ought to be recognized
- Definitions—If the item satisfies the definition of a component of a financial statement, then it ought to be recognized;
- Dependability— When the pledge is based on a fact that can be recorded, verifiable, and neutral, then it can be recognized
- Measurability— if it allows for measurability, then it should be recognized
It is clearly stated that where the certainty or reliability of a promise or a vow is difficult that measure, it is better to decline from recognizing such a pledge.
Cheers!
Answer:
$60,000
Explanation:
Double declining method is a depreciation method used to expense the cost of an asset.
Depreciation expense using the double declining method = Depreciation factor × cost of asset
Deprecation factor = 2 (1/useful life) = 2(1/8) = 1/4
Depreciation expense in 2016 = 0.25 × $320,000 = $80,000
Net book value = $320,000, - $80,000 = $240,000
Deprecation expense in 2017 = 0.25 x $240,000 = $60,000
I hope my answer helps you
Answer:
D. ($100,000)
Explanation:
Calculation for what The effect of these events and transactions on 2020 income from continuing operations net of tax would be
Continuing operations net of tax=(20%*$125,000)-$125,000
Continuing operations net of tax=$25,000-$125,000
Continuing operations net of tax=($100,000)
Therefore The effect of these events and transactions on 2020 income from continuing operations net of tax would be ($100,000)
Answer:
A total interest $37,246.54
B It will pay $18,304.50 dollar per year
<em>It is better to use the boan borrowing as the installment per year is lower.</em>
Explanation:
A installment times time less principal = total interest
18,935.22 x 7 - 95,300 = 37,246.54
B calcualte the installment of the bank offer:
PV 95,300.00
time 7
rate 0.08
C $ 18,304.500
<u>As it is lower than manufactures quota it should be accepted </u>
Answer:
D. exports more than it imports
Explanation:
A favorable balance of payment is a term used in international trade to describe a situation where a country's exports exceed imports. A country will experience a positive balance of payment if its a net exporter. A favorable balance of payments is when there is a surplus in a country's balance of trade.
Exports are goods and services manufactured within the borders of a country and sold to foreigners. Imports are products bought from other countries. In calculating the balance of payment, net income from international assets is also considered.
