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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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Some large hardware stores such as home depot boast of carrying as many as 20,000 different products in each store. this volume
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True, because producer decisions are motivated by the attempt to earn profits.18. Consider the following statement: “Competition is the disciplinarian of the market economy.”This statement istrue, because when producers face competition they are driven to provide goods and services at the lowest possible cost.19. Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. This volume of goods is the result ofthe choice of consumers regarding what to purchase to satisfy their wants and the choice of producers regarding what to produce to maximize profits.

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Miley's business of gift items is earning her good profits. She is the sole proprietor of the business and wishes to expand it.
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The following December 31, 2021, fiscal year-end account balance information is available for the Stone Corporation:Cash and cas
blsea [12.9K]

Answer:

1.

Total current assets  = $112500

2.

Short term investments = $2300

3.

Retained earnings = $15500

Explanation:

1.

The total current assets can be determined using the current ratio provided for 2021. The current ratio is calculated by dividing the value of total current assets by the value of the total current liabilities.

1.5  =  Total current assets / (51000 + 23000 + 1000)

1.5 = Total current assets / 75000

1.5 * 75000 = Total current assets

Total current assets  = $112500

2.

Short term investments are a part of the current assets. The value of short term investments is,

112500 = 6200 + 32000 + 72000 + Short term investments

112500 = 110200 + Short term investments

112500 - 110200 = Short term investments

Short term investments = $2300

3.

The basic accounting equation states that the total assets is always equal to the value of total liabilities plus total equity.

Total assets = Total Liabilities + Total Equity

(112500 + 180000) = [(51000 + 23000 + 1000) + 42000]  +  (160000 + Retained earnings)

292500 = 117000 + 160000 + Retained earnings

Retained earnings = 292500 - 277000

Retained earnings = $15500

6 0
3 years ago
Human capital is thea. knowledge and skills that workers acquire through education, training, and experience.b. stock of equipme
sertanlavr [38]

Answer:

a. knowledge and skills that workers acquire through education, training, and experience.

Explanation:

Human Capital is associated with all that improves the qualification of the workers. And is important because allows the increase of productivity and thus profitability of an organization or economy.

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3 years ago
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $30 per share. Record the issuance o
Elden [556K]

Answer:

The journal entry for the issuance of the preferred stock is shown below:

Explanation:

Cash A/c..................................................Dr   $30,000

    Preference Stock A/c....................................Cr $10

    Paid in Capital in excess of Par A/c...........Cr   $29,990

Working Note:

Cash = Shares × Issued price per share

where

Shares are 1,000

Issued Price per share is $30

= 1,000 × $30

= $30,000

Preference Stock = Shares × Par price

= 1,000 × $0.01

=$ 10

Paid in Capital in excess of Par = Cash - Preference stock

= $30,000 - $10

= $29,990

3 0
3 years ago
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