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lubasha [3.4K]
2 years ago
12

Canned food available for sale at grocery stores have been subjected to a commercial canning process. If you bought a can of pea

s from the local grocery store and found the peas to be spoiled, it could explained by
Business
1 answer:
umka21 [38]2 years ago
4 0

Answer:

Three things:

-Under processing before canning

-Spoilage before canning

-entrance of water through can seams during cooling

Explanation:

The preservation process is aimed at reducing the rate of spoilage of food products over time.

When adequately processed a time can be given during which the food product is still not spoilt. For example 1 year from date of canning. After this period there is a high possibility of food spoilage.

If a can of peas was bought from a grocery and it is spoilt it is either the peas were not well processed, there was spoilage before commercial canning, or water entered when cooling during canning

You might be interested in
During 2021, its first year of operations, a company provides services on account of $255,000. By the end of 2021, cash collecti
ryzh [129]

Answer:

Dr Bad Debt Expense 16,120

Cr Allowance for Uncollectible Accounts 16,120

Explanation:

Based on the information given we were told that the company provides services of the amount of $255,000 in which the cash collections on the accounts was the amount of $131,000 and 13% of accounts receivable will be uncollectible which means that the adjusting Journal entry for uncollectible accounts on December 31, 2021 will be :

Preparation of the adjusting Journal entry for uncollectible accounts on December 31, 2021.

December 31,2021

Dr Bad Debt Expense 16,120

Cr Allowance for Uncollectible Accounts 16,120

[($255,000-$131,000)*13%]

$124,000*13%

=$16,120

8 0
3 years ago
With only a​ part-time job and the need for a professional​ wardrobe, Rachel quickly maxed out her credit card the summer after
choli [55]

Answer:

a. It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

Explanation:

Use the formula below to determine the number of months it would take Rachel to pay off her debt;

C *{1-(1+r)^(-n×t)}/(r/n)=PV

where;

C=annuity

r=annual interest rate

n=number of compounding periods in a year

t=number of years

PV=present value

In our case;

PV=$10,574

C=$260

r=16%=16/100=0.16

n=12

t=unknown

replacing;

260*{1-(1+0.16/12)^(-12×t)}/(0.16/12)=10,574

1-(1+0.16/12)^(-12×t)={10,574×(0.16/12)}/260

1-{1.013^(-12 t)}=0.542

(1-0.542)=1.013^(-12 t)

ln 0.458=-12 t (ln 1.013)

t=-ln 0.458/12×ln 1.013

t=5

It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

3 0
3 years ago
On january 1, 2017, holland corporation paid $9 per share to a group of zeeland corporation shareholders to acquire 60,000 share
Illusion [34]

Answer:

Explanation:

a  Consideration transferred  by                                            $540,000

        Holland ($9.00 x 60,000 shares)

        Fair value of the non-controlling                                                  320,000

        interest ($6.50 x 40,000 shares)

       Total Zeeland fair value at January 1, 2017                        $860,000

       Zeeland book value at January 1, 2017                           320,000

      Excess acquisition-date fair over book value                $540,000

      To equipment (5-year remaining life)                  $50,000  

       To patent (10-year remaining life)                          420,100           470,100

       Goodwill                                                                                   $69,900

       Goodwill allocation:                                       Holland                NCI

       Acquisition-date fair value                               $540,000       $320,000

       Share (60% and 40%) of identifiable *               474,060         316,040

        net assets

        Goodwill allocation                                      $65,940        $3,960

       *Zeeland identifiable net assets at acquisition-date fair value:  

       Current assets                                                  $15,700  

       Property and equipment ($329,700 + $50,000)  379,700  

       Patents ($212,100 + $420,100)                             632,200  

       Liabilities                                                             (237,500)  

       Total fair value of net identifiable assets              $790,100

b       Investment in Zeeland  

              Initial value                                                      $540,000  

            Change in Zeeland’s RE × 60%  

             ($439,400 – $220,000) × 60%                          131,640  

            Excess amortization ($52,010 × 60% × 2 yrs.)         (62,412)  

            Investment in Zeeland 12/31/18                          609,228

         HOLLAND CORPORATION AND ZEELAND CORPORATION

           Consolidation Worksheet

        For Year Ending December 31, 2018

         Consolidation Entries Noncontrolling Consolidated

Accounts     Holland Zeeland       Debit      Credit      Interest         Totals

Sales    ($582,600) ($445,500)         ($1,028,100)

Cost of    295,400 208,500                           $503,900

goods sold

Depreciation 73,000 32,300      E   10000                   115,300

expense

Amortization  15,700 19,300      E    42010             77,010

expense

Other operating 58,800   58,400               117,200

expenses

Equity in Zeeland  -44,994  0       I      44994         0

earnings

Separate company ($184,694)   ($127,000)

net income      

Consolidated net income             ($214,690)

Noncontrolling interest in CNI             (29,996)    29,996

Controlling interest net income             ($184,694)

Retained earnings ($821,900)  ($342,400) S 342400        ($821,900)

, 1/1/18

Net income       -184,694   -127,000          ($184,694)

Dividends declared 50,000 30,000        D   18000 12000 50000

Retained earnings, ($956,594) ($439,400)         ($956,594)

12/31

Current assets $126,700 $98,500           $225,200

Investment in  609,228              0         D  18000  S  265,440

Zeeland, Inc  

                                                                                        A1 250854  

                                                                                       A2  65940  

                                                                                         I   44994  

Property and    854,000 276,000       A1 40000  E  10000       1,160,000

equipment (net)

Patents                 152,400 168,500      A1  378090 E  42010 656,980

Goodwill                    0             0              69900     69,900

Total assets       $1,742,328   $543,000          $2,112,080

Liabilities -465,734          -3,600           -469,334

Common stock  -320,000 -100,000        S   100000   -320000

Noncontrolling                                     S   176960

interest    

                                                                                      A1  167236  

                                                                                  A2 3960 -348156 -366152

Retained earnings -956,594  -439,400      -956594

, 12/31

Total    ($1,742,328) ($543,000) $1,045,394  $1,045,394              ($2,112,080)

liabilities and equities

6 0
3 years ago
Treasury Bonds are _______.A. liquid, but not a store of value. B. a store of value, but not liquid. C. both liquid and a store
miss Akunina [59]

Answer:

C. both liquid and a store of value.

Explanation:

Treasury Bonds are fixed interest long term government debt instrument issued by the government through the monetary authorities (Federal Reserve or Central Bank) to raise fund from the public. Treasury bond has a maturity of between 10 and 30 years.

Treasury bonds is one of the most liquid financial instrument in the world as  it can be turned to cash within a day.

The T-Bond, as treasury bonds is often called is a good store of value as it pays interest and the principal is backed by a legal contract.

5 0
3 years ago
Which of the following statements about franchising is not true?
Natali [406]
The franchaiser may supply financing
3 0
2 years ago
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