Answer: Spontaneous debt financing plus bank loans plus owners investment plus retained earnings.
Explanation: It is the general rule in accounting that assets of any business entity will always be equal to the capital invested from different sources and the liabilities taken over by the business for funds. Debt, owners equity and retained earnings are a source of capital whereas bank loans is a liability .
Capacity that is available for use by other business units in the firm to expand their operations or to lease to other organizations is known as capacity cost.
<h3>What is the significance of capacity cost?</h3>
Capacity cost refers to the expenditure or cost that is incurred by a company or an entity in order to expand its business operations.
Capacity costs are those expenses which are incurred by an organization to increase its capacity to conduct business operations. These may includes a wide range of cost types.
Basically, Capacity cost refers to a type of fixed cost that is associated with the ongoing operation of a business.
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Answer:
No Journal entry. Disclose contingent liability of $794000 in Notes to Financial Statements
Explanation:
A Provision is recognized when it is Probable ( Probabity > 50%) that there would be an outflow of economic resources and that a reliable estimate can be made - IAS 37
Since there is a 45% chance of losing, it is not probable to recognize a provision. Thus a Contingent liability is recognized instead
Contingent Liabilities are only disclosed if the amounts are significant and are not shown on the face of the financial statement (no journal entry)
Answer:
Gross profit = $ 840.
Explanation:
Charlet cost of purchasing = $120 per chair * total chairs purchased from suppliers
= $120 * 40 = $4800.
Rutherford:
Cost of purchasing = cost per price * chairs purchased
= $200 * 18 = $3600.
less: purchase return ( 3* 200) = (<u>$600)</u>
Net Purchases $3000.
Charlet Company
Gross profit =?
As we know that sales - cost = Gross profit. $
Charlet sales ( $200 each * 18 chairs) = 3600
less: Sales return ( 3*200) (<u>600)</u>
Net sales 3000
less : Cost of goods sold
(120 * 18) <u> (2160)</u>
Gross profit 840.
Answer:
the first one is Markup and the second one is marketing
Explanation:
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