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barxatty [35]
3 years ago
10

Uncertainties such as natural disasters are: Select one: a. Estimated liabilities because the amounts are uncertain. b. Not cont

ingent liabilities because they are future events not arising from past transactions or events. c. Not contingent liabilities because they are future events not arising from past transactions or events. Contingent liabilities because they are future events arising from past transactions or events. d. Disclosed because of their usefulness to financial statements. e. Reported in the same way as debt guarantees.
Business
1 answer:
Dovator [93]3 years ago
6 0

Answer:

d. Disclosed because of their usefulness to financial statements.

Explanation:

A <em>liability</em> is a present obligation (Legal or Constructive) of an Entity that arises as a result of a past event and the settlement of which will result from an out flow of cash from the entity.

One class of Liability that relate to the case is a <em>Provision</em>.A provision is a liability whose amount can be determined with certainty.

A liability whose amount can not be determined with certainty is known as a <em>Contingent liability</em>.A contingent liability is not presented in the financial statements but is  only disclosed in the Financial Statements.

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Your boss has asked you to calculate the profitability ratios of Cold Goose Metal Works, Inc. and make comments on its second-ye
Alinara [238K]

Answer:

Gross Margin % 59.2% 53.8%

 compares gross profit to sales revenue  

 

Ne income Margin 32.0% 28.9%

 compares net income to sales revenue  

 

ROA return on assets 10.8% 12.3%

net earnings relative to the company’s total assets.  

 

ROE return on equity 32.5% 23.1%

net income relative to stockholders’ equity,  

Explanation:

Net Sales                                                         3,810,000 3,000,000

Operating costs less depreciation/amortization 1,365,000 1,267,500

Depreciation and amortization                            190,500 120,000

Total Operating Costs                                        1,555,500 1,387,500

Operating Income (or EBIT)                               2,254,500 1,612,500

Less: Interest                                                           225,450 169,313

Earnings before taxes (EBT)                               2,029,050 1,443,187

Less: Taxes (40%)                                                   821,620 577,275

Net Income                                                           1,217,430 865,912

 

assets 11,277,600 7,050,000

Equity 3,750,000 3,750,000

 

Gross Margin % 59.2% 53.8%

 compares gross profit to sales revenue  

 

Ne income Margin 32.0% 28.9%

 compares net income to sales revenue  

 

ROA return on assets 10.8% 12.3%

net earnings relative to the company’s total assets.  

 

ROE return on equity 32.5% 23.1%

net income relative to stockholders’ equity,  

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At wallmart what does swas mean
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"<span>Store Within A Store"</span>
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Novak Corp. bought equipment on January 1, 2022. The equipment cost $390000 and had an expected salvage value of $35000. The lif
nirvana33 [79]

Answer:

$177,000

Explanation:

In order to find the book value of the equipment we need to find the amount of depreciation per year. To do this we need to subtract the salvage value from the initial cost and then simply divide by 5 which is the life span of the equipment...

(390,000 - 35,000) / 5 = x

355,000 / 5 = x

71,000 = x

Now we see that the equipment will depreciate by $71,000 per year. In three years the depreciation would be

71,000 * 3 = 213,000

Now we simply subtract this value from the initial cost to get the book value in the third year

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7 0
2 years ago
Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u
Travka [436]

Answer:

Budgeted overhead= $283,400

Explanation:

Giving the following information:

Production:

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variable overhead is applied at a rate of $0.70 per unit of production.

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To calculate the budgeted overhead, we need to determine the total variable overhead for the month:

Budgeted overhead= fixed overhead + total variable overhead

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Budgeted overhead= $283,400

6 0
3 years ago
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