The correct priority in making business decision is:
<span>#3 profit, organizational values,personal integrity.
The main reason why you put up a business is to gain profit. Thus, it is a priority. Second consideration would be the organizational values. Organizational values will determine the longevity of the company and the tenure of its employees.</span>
Answer:
c. in rem jurisdiction.
Explanation:
Jurisdiction is defined as the power or authority to decide legal cases.
Jurisdiction refers to the practical authority granted to a legal body to administer justice within a defined field of responsibility.
Federal jurisdiction refers to the legal scope of the government's powers in the U.S.A.
In rem jurisdiction refers to the power a court that it may exercise over property against a person over whom the court does not have in personam jurisdiction.
Indiana has <u>in rem jurisdiction.</u>
Answer:
The answer is below
Explanation:
i) The price elasticity of demand is given by the formula:
Since the price elasticity of demand is greater than 1 hence it is elastic
ii) Since the price elasticity of demand is elastic as a result of increase in fare, hence the total revenue would decrease.
iii)
Since the price elasticity of demand is greater than 1 hence it is elastic
Answer:
Estimated Warranty Liability December 31, 2020
Debit Credit
Beginning balance $0
Actual Warranty Expenditure $12,000 Estimated total cost of $48,000
Warranty $800,000*6%
Ending Balance $36,000
$48,000 $48,000
Estimated Warranty Liability December 31, 2020
Debit Credit
2021 Servicing Expense $35,000 Beginning balance $36,000
Ending Balance $61,000 Estimated total cost of $60,000
Warranty $1,000,000*6%
$96,000 $96,000
So, the company should report an estimated warranty liability of $61,000 at Dec 31, 2021
Answer:
The company report as loss on discontinued operations in its 2021 income statement is $1,990,000
Explanation:
The computation of the loss on discontinued operations is shown below:
= Division loss from operations
= $1,990,000
As no impairment loss is there because there is a gain as fair value is more than the book value.
For calculating the loss on discontinued operations, the gain should not be considered. So, only Division loss from operations is relevant and hence taken in the computation part
The gain would be
= $3,630,000 - $3,000,000
= $630,000
