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forsale [732]
2 years ago
9

Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2021 of a circuit

flaw in an amplifier that poses a potential fire hazard. An intense investigation indicated that a product recall is virtually certain, estimated to cost the company $2 million. The fiscal year ends on December 31. Required: 1. Should this loss contingency be accrued
Business
1 answer:
denis-greek [22]2 years ago
3 0

Answer:

Sound Audio

Yes.  This loss should be accrued.

Explanation:

Accruing the loss contingency gives the readers of the financial statements an early warning of the probable existence of a future loss.  A loss contingency arises from a probable future event, which gives rise to an adverse outcome from a lawsuit.  Since the cost of the loss can be reasonably estimated and the product recall is virtually certain, it is prudent for Sound Audio to provide for this loss in its December 2021 financial statements.

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One year ago, you purchased a stock at a price of $32 a share. Today, you sold the stock and realized a total return of 14.62 pe
aliya0001 [1]

Answer:

3.75%

Explanation:

Purchase price of the stock = $32

Total return on the stock:

= Purchase price of the stock × Total return

= 32 × 14.62%

= $4.6784

Dividend gain on the stock:

= Purchase price of the stock + Total return on the stock - capital gain - Purchase price

= $32 + $4.6784  - $3.48  - $32

= $1.1984

Dividend yield:

= Dividend gain on the stock ÷ Purchase price of the stock

= $1.1984 ÷ 32

= 3.75%

7 0
3 years ago
Sam, the chief accounting officer of texas fencing corporation, wants to be sure that all the company's accounts are legal and e
rosijanka [135]

Sam, being the Chief Accounting Officer of Texas Fencing Corporation, wants to ensure that all the company's accounts are legal and ethical. At times when he is unsure of what exactly is legal and illegal, he should <span>try his best to not do anything illegal and keep documentation showing that he always acts in good faith. In this way, even in the case that he does make a mistake, he has proof that he always acts in good faith with the help of his proper documentation. </span>

8 0
3 years ago
Four years ago, acme tool and die included its employees in a profit-sharing plan in which workers started receiving quarterly b
worty [1.4K]
This productivity increase is best explained in term of OPERANT CONDITIONING.
Operant conditioning refers to a situation in which positive reinforcements are used to provide positive behavior. In operant conditioning, behavior is controlled by consequences. In the question given above, the positive reinforcement is the integration of the employees into profit sharing plan and the behavior that resulted from this is the significant increase in productivity.
4 0
3 years ago
Jaden has a degree is marketing. She would like to run her department. She is going back to school to get a degree in:
Masteriza [31]

Answer:

Business Management

Explanation:

With Her <em>Marketing Degree</em> she is able to sell and get the right Customers paying the right price. To run her department she needs knowledge of business operations in Human Resource, IT, Finance , Purchase and Supply and Accounting. The <em>Business Management</em> degree provides these disciplines as minimal.

4 0
3 years ago
What careers are in the Information Support and Services career pathway of the IT career cluster? (15 points for you)
yKpoI14uk [10]
I think it’s “help desk specialists, PC support specialists”
6 0
3 years ago
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