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Lina20 [59]
3 years ago
12

For each separate situation, indicate whether Cruz Company should (a) record a liability, (b) disclose in

Business
1 answer:
ratelena [41]3 years ago
8 0

Answer:

Cruz Company

Indicating whether to (a) record a liability, (b) disclose in notes, or (c) have no disclosure.

Transaction                                                        Remark

1.  Guarantee of supplier's debt                  (c) have no disclosure

2. Damages for disgruntled employee      (b) disclose in notes

Explanation:

When it is not probable that the supplier whose debt is guaranteed by Cruz will default on the debt, there is no need to make a disclosure since probable liability is not accruing to Cruz.  But with the legal case of a disgruntled employee, Cruz should disclose the information in a note.  It can only be recorded as a liability when the amount of the damages can be reasonably estimated.

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Answer:

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8 0
3 years ago
PROBLEMThe PQ partnership has the following plan for the distribution of partnership net income (loss):P QSalaries $60,000 $100,
Yanka [14]

Answer:

1. P = $156,560; Q = $203,440

2. P = $90,320; Q = 149,680

3. P = -$43,500; Q = $3,500

Explanation:

The explanation is given in images for each situation:

3 0
3 years ago
Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, eight million dollars on
Arada [10]

Answer: It has 1 milion dollars in required reserves

Explanation:

Tot. Res = Vault cash + Deposit with Federal Reserve

Tot. Res = 2 million dollars + 8 million dollars = 10 million dollars

Total reserves are the sum of excess reserves and required reserves .

Tot. Res. = Exce. Res. + Req. Res.

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Req. Res. = 10 million dollars- 9 million dollars.

Req. Res. = 1 million dollars.

4 0
3 years ago
What is an outstanding check?
Solnce55 [7]

<span>An outstanding check is a check issued by the payor and released to the payee that remains to be undeposited or uncashed check at a certain financial period. When reconciling the bank statements with company books, an outstanding check is deducted from the unadjusted bank balance to arrive at the adjusted bank balance.  </span>

3 0
3 years ago
The market price of xyz corporation common stock is $55 and its quarterly dividend is $0.60. what is the stock's current yield?
eduard

The market price of XYZ corporation common stock is $55 and its quarterly dividend is $0.60. 4.36% is the stock's current yield.

A stock's current yield is determined by dividing the annual dividend by the stock's current market price. In this example, the stock's annual dividend is found by multiplying the quarterly dividend of $0.60 by 4. This equals $2.40. So the current yield is 4.36% ($2.40 ÷ $55).

Common stock is a class of stock that represents ownership of a company. Holders of common stock, called shareholders, are entitled to: Voting rights to elect directors. Normally a shareholder can cast one vote for each share he owns.

Learn more about common stock at

brainly.com/question/25765493

#SPJ4

4 0
2 years ago
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