Ask question

Ask question

All categories

3 years ago

12

Flounder Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $434,700. The estimated fair

values of the assets are land $82,800, building $303,600, and equipment $110,400. At what amounts should each of the three assets be recorded?

1 answer:

Shtirlitz [24]3 years ago

6 0

Answer:

ok

I thinks it's ok because it's ok you get me

You might be interested in

Explain the relationship between market and entrepreneurship....long answer plz..

spin [16.1K]

Market is more for everyone working as a group and entrepreneurship is when there is one owner that works

6 0

3 years ago

rusak2 [61]

The correct answer is

8 0

3 years ago

What role do group dyanmics play in financial decisions? use examples of personal and buisness financial decisions.

yan [13]

Answer:

Step 1: Determine Your Current Financial Situation

In this first step of the financial planning process, you will determine your current financial situation with regard to income, savings, living expenses, and debts. Preparing a list of current asset and debt balances and amounts spent for various items gives you a foundation for financial planning activities

Step 2: Develop Financial Goals

You should periodically analyze your financial values and goals. This involves identifying how you feel about money and why you feel that way. The purpose of this analysis is to differentiate your needs from your wants. Specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an extensive savings and investment program for your future financial security.

Step 3: Identify Alternative Courses of Action

Developing alternatives is crucial for making good decisions. Although many factors will influence the available alternatives, possible courses of action usually fall into these categories: Continue the same course of action. Expand the current situation. change the current situation. Take a new course of action. Not all of these categories will apply to every decision situation; however, they do represent possible courses of action. Creativity in decision making is vital to effective choices. Considering all of the possible alternatives will help you make more effective and satisfying decisions.

Step 4: Evaluate Alternatives

You need to evaluate possible courses of action, taking into consideration your life situation, personal values, and current economic conditions. Consequences of Choices. Every decision closes off alternatives. For example, a decision to invest in stock may mean you cannot take a vacation. A decision to go to school full time may mean you cannot work full time. Opportunity cost is what you give up by making a choice. This cost, commonly referred to as the trade-off of a decision, cannot always be measured in dollars. Decision making will be an ongoing part of your personal and financial situation. Thus, you will need to consider the lost opportunities that will result from your decisions. Evaluating Risk Uncertainty is a part of every decision. Selecting a college major and choosing a career field involve risk. What if you don’t like working in this field or cannot obtain employment in it? Other decisions involve a very low degree of risk, such as putting money in a savings account or purchasing items that cost only a few dollars. Your chances of losing something of great value are low in these situations.In many financial decisions, identifying and evaluating risk is difficult. The best way to consider risk is to gather information based on your experience and the experiences of others and to use financial planning information sources. Financial Planning Information Sources Relevant information is required at each stage of the decision-making process. Changing personal, social, and economic conditions will require that you continually supplement and update your knowledge.

Step 5: Create and Implement a Financial Action Plan

In this step of the financial planning process, you develop an action plan. This requires choosing ways to achieve your goals. As you achieve your immediate or short-term goals, the goals next in priority will come into focus. To implement your financial action plan, you may need assistance from others. For example, you may use the services of an insurance agent to purchase property insurance or the services of an investment broker to purchase stocks, bonds, or mutual funds.

Step 6: Reevaluate and Revise Your Plan

Financial planning is a dynamic process that does not end when you take a particular action. You need to regularly assess your financial decisions. Changing personal, social, and economic factors may require more frequent assessments. When life events affect your financial needs, this financial planning process will provide a vehicle for adapting to those changes. Regularly reviewing this decision-making process will help you make priority adjustments that will bring your financial goals and activities in line with your current life situation

6 0

3 years ago

Suppose that a bank has loaned money to two businesses: a trustworthy computer manufacturer and a risky mining venture. Unfortun

SVETLANKA909090 [29]

Answer:

The situation is called insolvency. insolvency is refer to the situation when debtor is unable return its debt. The same is happened in the given situation. In the above case due to not paid by manufacturing unit, bank is unable to pay to depositor.

Insolvency is refer to that critical condition when debtor unable to pay amount to depositor. In the above given case even if bank want to sell its all assets it cannot cover its liabilities.Explanation:

8 0

3 years ago

1. A Letter of Credit (or LC) is one of the major pillars on which International Trade stands.

Marat540 [252]

Answer:

Letter of Credit (LC)

a) Mbo Limited's bank can issue a letter of credit to Tiffany Anderson Group Ltd.'s bank a credit guarantee by which Mbo's bank guarantees that Mbo Limited will settle Tiffany Anderson Group Ltd in full for the amount involved in their trade relationship. It is usually used by importers and exporters to settle trade credit. It is the most acceptable means of settling debts across national boundaries.

b) A diagram is attached. The procedures are detailed below:

A. A Sales Contract is established between the seller (exporter) and the buyer(importer).

B. The importer makes a request to its bank for issuance of letter of credit.

C. The importer’s bank issues a letter of credit to the exporter’s bank.

D. The exporter’s bank advises on the letter of credit to the exporter.

E. The exporter presents export documents (bill of lading and invoice) to its bank.

F. The exporter’s bank delivers the documents to the importer’s bank.

G. The importer’s bank debits the account of the importer for the stated amount after confirming that the documents are in order.

H. The importer’s bank pays the purchase price to the exporter’s bank.

I. The exporter’s bank credits the exporter’s bank to show payment. This ends the transaction.

c. The letter of credit guarantees both the Mbo Limited and Tiffany Anderson Group Ltd. It guarantees and ensures that payment for goods are not paid to Tiffany Anderson Group Ltd until there is evidence that the correct goods and quantity have been shipped by Tiffany Anderson Group Ltd (through the bill of lading). It also assures Tiffany Anderson Group Ltd of payment for shipped goods since the documents cannot be released to Mbo Limited unless Mbo Limited's account had been debited and the money transmitted to Tiffany Anderson Group Ltd through its bank.

Explanation:

As above.

5 0

3 years ago