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3 years ago

How did the titanic sink ?

1 answer:

5 0

The Titanic could stay afloat with four of its 16 watertight compartments flooded, more than anyone could imagine on a ship of its size. As the ice bumped along its starboard side, it punched holes in the ship's steel plates, flooding six compartments. In a little over two hours, the Titanic filled with water and sank Sep 25, 2008

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Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codific

Rzqust [24]

Answer:

1. Reporting most changes in accounting principle.

FASB ACS 250-10-45-5.

Title - "Accounting changes and Error corrections - Overall - Other presentation matters - Change in Accounting principle"

2) Disclosure requirements for a change in accounting principle:

FASB ACS 250-10-50-1 :

Title - "Accounting changes and Error corrections - Overall - Disclosure - Change in accounting principle"

3) Illustration of the application of a retrospective change in the method of accounting for Inventory :

FASB ACS 250-10-55-3

Titles - "Accounting changes and Error corrections - Overall - Implementation guidance and Illustrations -Retrospective application of a change in Accounting principle."

8 0

2 years ago

Assume you plan to travel to the Southern Hemisphere after final exams. You’ve narrowed your choices down to two that you like e

storchak [24]

Answer:

The trip to Colombia is priced less at $1,497.07.

Explanation:

Using the following spot inter-bank market on November 1, 2019,

1 USD = 3339.85 COP (Colombian Pesos) and

1 USD = 1.4455 AUD (Australian Dollars

5,000 Australian Dollars on that day would be equivalent to

= $\frac{5000}{1.4455}$

= $3,459.01

5,000,000 Colombian Pesos on that day would be equivalent to

= $\frac{5000000}{3339.85}$

= $1,497.07

Considering the U.S Dollars equivalent of both cost, the trip to Colombia is priced less at $1,497.07.

4 0

3 years ago

A note receivable due in 18 months is listed on the balance sheet under the caption A. long-term liabilitiesB. fixed assetsC. cu

MAVERICK [17]

Answer:

Investments

Explanation:

If the note receivable is expected to be received in 12 then it is listed as a Current Asset else as Investments.

For further detail in how you can recognize Financial instrument ,please refer to the accounting rules for this type of accounts in https://www.iasplus.com/en/standards/ias/ias39

3 0

3 years ago

On January 1, 2018, the Accounts Receivable and the Allowance for Doubtful Accounts balances of Kendall Company were $40,000 and

aivan3 [116]

Answer:

Bad Debt Expense = $652

Explanation:

Ending balance [Un-adjusted) = Beginning balance + Credit sales - Cash collected - Written off

Ending balance [Un-adjusted) = $40,000 + $80,000 - $78,200 - $500

Ending balance [Un-adjusted) = $41,300

Allowance For Doubtful Accounts = Beginning balance - Written off

Allowance For Doubtful Accounts = $1,500 - $500

Allowance For Doubtful Accounts = $1,000

Adjusted amount required = $41,300 × 4%

Adjusted amount required = $1,652 Credit

Un-adjusted balance available = $ 1000 Credit

Bad Debt Expense = Adjusted amount required - Un-adjusted balance available

Bad Debt Expense = $1,652 - $1,000

Bad Debt Expense = $652

7 0

3 years ago

What was one positive effect of economic globalization?

kiruha [24]

A positive impact of economic globalization is the economic integration. The world as a global village has experienced an unprecedented level of economic integration in the sense that many companies across a wide range of countries have been able to propose a variety of products to the world, which would have been very difficult or even impossible in a context of locally based or centred economy.

5 0

3 years ago

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