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aksik [14]
3 years ago
11

Etheridge Inc. had a manufacturing plant in Sudan, which was destroyed in the civil war. It is not certain who will compensate E

theridge for this destruction, but Etheridge has been assured by governmental officials that it will receive a definite amount for this plant. The amount of the compensation will be less than the fair value of the plant, but more than its book value. How should the contingency be reported in the financial statements of Etheridge Inc.
Business
1 answer:
Aliun [14]3 years ago
8 0

Answer:

Since the amount of compensation is more than the book value there is to be gain.

No contingent gain is recorded unless probable .Therefore it will not be recorded.

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jeka94

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I think the third option is easy for you

7 0
3 years ago
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The main transfer programs of the U.S. government include each of the following, except:
Alchen [17]

Answer:

d. wage payments to government employees.

Explanation:

Transfer payment is when income is received but neither good or service is exchanged.

Examples of transfer payments in the US include- Social Security, Medicaid, and unemployment insurance .

I hope my answer helps you

7 0
4 years ago
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Forecasts are the foundation of the planning process. There are many methods available but the trick is to find the one that fit
jeyben [28]

Forecasts are the foundation of the planning process. There are many methods available but the trick is to find the one that fits the __need__ and is adaptable to the available _data__

3 0
3 years ago
The CEO of Kwikee Shoppe, a chain of convenience stores, believes that some of his managers aren't making decisions as effective
Bess [88]

Answer:

Consult with other regional managers for their opinion before closing stores.

Explanation:

Team work is key for the progress of any organization. Every member of an organization must have the ability to work as a team and seek professional advice from other colleagues.

Stella has not been doing this because of her overconfidence and the overestimation of her ability. For Stella to be able to overcome these biases and stop making wrong decisions, she should seek professional advice from her co-managers. Her colleagues can give her suggestions on how to promote a store that is not doing well rather than closing it permanently.

4 0
4 years ago
On July 1, Shady Creek Resort borrowed $310,000 cash by signing a 10-year, 11% installment note requiring equal payments each Ju
mafiozo [28]

Answer:

$34,100

Explanation:

The interest on the installment note for the first year is a function of both the face value of the note and interest rate of 11%

Interest expense on the first annual payment=$310,000*11%

Interest expense on the first annual payment=$34,100

The amount principal repayment in respect of the  first annual payment is the amount of payment which is $52,639 minus the interest portion of the payment.

The Principal portion of the first payment=$52,639-$34,100=$18,539

8 0
3 years ago
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