Answer:
A. The total cost of the equipment.
Explanation:
Even if Jambon has not used the equipment in 2005 because it can only be used for the product that is to be developed in five years, Jambon still had to pay for the full cost of the equipment.
Because the equipment is laying idle, it is not depreciating. Therefore, the expense that Jambon is not incurring, is the depreciation expense associated with this equipment. This depreciation expense will only be seen in five years, when the product it was bought for is finally completed.
Answer:
When silo gimp graduated from college with a degree in flower growing. He was voted AS THE FLORIST OF THE YEAR
Explanation:
Anyone that studies flower growing or horticulture is a florist or could be voted as one which made Silo to win such an award.
Answer:
The answer is option C) Yes No
Explanation:
Current liabilities are obligations that are reasonably expected to be paid from Existing Creation of Other Current Assets and not current liabilities.
This is because, Current liabilities are short term liabilities due within a year. They include accounts payable, short term debt and overdraft. This means that payment can only be generated by current assets.
Current assets are also short term assets with a life span of on year. They include accounts receivable an cash.
Therefore, Yes, Current liabilities are obligations that are reasonably expected to be paid from Existing Creation of Other Current Assets.
And No, Current liabilities are obligations that are not expected to be paid from Existing Creation of Other Current Liabilities.
Answer:
$39,220
Explanation:
The maturity value of the note receivable on June 30, 2012
= Principal + Interest
= $40,000 + $40,000 x 6%
= $40,000 + $2,400
= $ 42,400
The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011
= 12 - 3 months ( July, Aug and Sep)
= 9 months.
Amount of deduction
= $ 42,400 x 10% x 9/12
= $ 3,180
Finally, the Cash received by Ireland will be
= Maturity value - Discount
= $42,400 - $ 3,180
= $39,220