Answer:
Short-term
Explanation:
People strive to achieve goals within a set time limit by time.
Answer:
a) Disclose in the notes
b) no Disclosure
c) Record a liability
Explanation:
There are three scenarios to be considered
1) It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable
First, premise is that Huprey Co. is facing a lawsuit and the possibility of a loss is most possible. If Huprey Co is able to recognize the amount of loss, then he would have been able to record a liability but the inability to estimate the loss means, the company can o<u>nly make appropriate disclosure in notes</u>
2)Huprey is being used for damages of $2 million. It is very unlikely (remote) that Huprey will lose the case.
This second premise is also a lawsuit on damages for $2 million, however, it is most reasonably acceptable that Huprey will win the lawsuit. As such there is no loss, that way there will be no disclosure in Huprey Co's books.
3. Huprey can reasonably estimate that a pending lawsuit will result in damages of $1.25 million, it is probable that Huprey will lose the case.
The probability of losing a case means that there will be a loss to be recorded in the books and since the damages are already estimable to be $1.25 million. Huprey Co should record a liability
Answer: yes
Explanation:
Upper specification = 30 minutes
Lower specification = 20 minutes
Average service = 26.26minutes
Sigma= 1.35 minutes
Answer:
E. $148,600
Explanation:
Cash flow from operating activities.
Net income. $134,000
Add: Depreciation. $30,000
Less: Gain on sale ($4,000)
Changes in working
Capital
Add: decrease in
Accounts receivable $9,400
Less: increase in
Merchandise inv. ($18,000)
Less: increase in
Prepaid expenses ($6,200)
Add: increase in
Accounts payable $3,400 ($14,600)
Net cash provided used by $148,600
Operating activities
Answer:
$23.6 per share
Explanation:
Given that,
Total common equity = $5,500,000
Shares outstanding = 250,000
Net income = $525,000
Dividends paid out = $125,000
Total value at the end:
= Total common equity + Net income - Dividends paid out
= $5,500,000 + $525,000 - $125,000
= $5,900,000
Therefore,
Book value per share at 2014 year end:
= Total value at the end ÷ No. of shares outstanding
= $5,900,000 ÷ 250,000
= $23.6 per share
