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KATRIN_1 [288]
3 years ago
5

Oceanview marine company performance materiality question

Business
1 answer:
harkovskaia [24]3 years ago
4 0
Pito con canosedad al 100
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Wilton Corporation had beginning retained earnings of $724,000 and ending retained earnings of $833,000. During the year, it iss
ryzh [129]

Answer:

Explanation:

The ending retained earnings =  beginning retained earnings + net income - Dividends Paid

Net income = ending retained earnings - beginning retained earnings + Dividends Paid

                   = $833,000 - $724,000 + $50,000

                   = $159000.

Therefore, the net income for the year is $159000.

7 0
3 years ago
The largest asset class on u.s. commercial banks' balance sheet as of september 30, 2012 was
Thepotemich [5.8K]
Answer: real estate loans
6 0
3 years ago
Huprey Co. is the defendant in the following legal claims. For each of following claims, does Huprey (a) Record liability, (b) D
const2013 [10]

Answer:

a) Disclose in the notes

b) no Disclosure

c) Record a liability

Explanation:

There are three scenarios to be considered

1) It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable

First, premise is that Huprey Co. is facing a lawsuit and the possibility of a loss is most possible. If Huprey Co is able to recognize the amount of loss, then he would have been able to record a liability but the inability to estimate the loss means, the company can o<u>nly make appropriate disclosure in notes</u>

2)Huprey is being used for damages of $2 million. It is very unlikely (remote) that Huprey will lose the case.

This second premise is also a lawsuit on damages for $2 million, however, it is most reasonably acceptable that Huprey will win the lawsuit. As such there is no loss, that way there will be no disclosure in Huprey Co's books.

3.  Huprey can reasonably estimate that a pending lawsuit will result in damages of $1.25 million, it is probable that Huprey will lose the case.

The probability of losing a case means that there will be a loss to be recorded in the books and since the damages are already estimable to be $1.25 million. Huprey Co should record a liability

4 0
3 years ago
John is an investor who is looking at two opportunities. One has higher risk than the other. John is willing to invest in the hi
harina [27]

Answer:

B. As a risk-averse investor

Explanation:

B. As a risk-averse investor is a correct option . Risk-averse investors can invest in higher risk opportunity only if it offers higher expected return .

4 0
3 years ago
Who elses helath and safety might be affected by your work ?​
Mrrafil [7]
The kids
Are the ones who affect it why wont u
3 0
3 years ago
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