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Fantom [35]
3 years ago
6

In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company

provides currently for the estimated cost for product warranties at the time the related revenue is recognized."
This note exemplifies Apple's use of:(A) Conservatism.(B) Matching.(C) Realization principle.(D) Economic entity.
Business
1 answer:
saul85 [17]3 years ago
6 0

Answer: The matching principle (B)

Explanation:

Matching principle states that all expenses must be recorded in the same period as the revenue that was earned

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If Brazil can produce 5 shirts or 4 pounds of beef in a day, and Uruguay can produce 10 shirts or 2 pounds of beef in a day, the
dsp73
Well overall no but for this question yes Brazil is the leader in meat otherwise the question would be garbage because its exactly half.
7 0
3 years ago
The following legal claims exist for Huprey Co. Identify the accounting treatment for each claim as either (a) a liability that
Deffense [45]

Answer:

Huprey Co.

Identifying the accounting treatment for each claim as either (a) a liability that is recorded or (b) an item described in notes to its financial statements:

1. Huprey (defendant) estimates that a pending lawsuit could result in damages of $1,550,000; it is unlikely that the plaintiff will win the case.a. A liability that is recorded.

b. An item described in notes to its financial statements.

2. Huprey faces a loss on a pending lawsuit that it is unlikely to lose; the amount is reasonably estimable.

a. An item described in notes to its financial statements. b. A liability that is recorded.

3. Huprey faces a probable loss on a pending lawsuit; the amount is reasonably estimable.a. An item described in notes to its financial statements.

b. A liability that is recorded.

Explanation:

Huprey Co. will recognize and record contingent liabilities in its accounts when it can be reasonably established that the future event will occur and the amount of the liability can be reasonably estimated. The implication is that Huprey Co. must establish two things before a contingent liability is recognized and recorded.  One is that the probability or the likelihood or the chance that the event will happen exists and can be estimated.  With the probability estimate, it becomes possible for Huprey Co. to also estimate the amount that the happening of the event will cost it.

4 0
2 years ago
Nair Corp. enters into a contract with a customer to build an apartment building for $1,000,000. The customer hopes to rent apar
Ivahew [28]

The determination of the transaction price for this contract for Nair Corp. is as follows:

Completed by Probability:

Date                             Probability         Bonus/Penalty       Outcome

August 1, 2015                  70%                 $150,000         $105,000 ($150,000 x 70%)

August 8, 2015                 20%                 $50,000             -10,000

August 15, 2015                 5%                  $50,000              -2,500

After August 15, 2015        5%                 $50,000              -2,500

Total expected value of performance bonus =           $135,000

Contract value = $1,000,000

Total transaction price = $1,135,000 ($1,000,000 + $135,000).

<h3>What is a transaction price?</h3>

A transaction price is the amount of consideration expected to be paid or received for the exchange of goods or services.

A transaction price can vary based on timing or performance factors.

<h3>Data and Calculations:</h3>

Contract value = $1,000,000

Performance bonus = $150,000

Penalty per week in performance bonus = $50,000

The total transaction price is <u>$1,135,000</u>.

Learn more about contract transaction prices at brainly.com/question/984979

4 0
2 years ago
6. Why do American business owners try to avoid accepting Canadian coins?
fenix001 [56]

Answer:

because America coins and Canada coins is same

Explanation:

pls mark this

3 0
3 years ago
Vertical space can be utilized to gain more storage space?<br> True or False
alexandr402 [8]
<span>True. Vertical space can be used for more storage space, however in most storage units only fifty percent of the total storage is not utilized. Using vertical space will increase the storage space</span>
6 0
3 years ago
Read 2 more answers
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