Answer: $105,000
Explanation:
Given, unrecognized prior service costs granted = $600,000
service years in future = 2,000
service years this year = 350
Mistor's unrecognized prior service cost amortization for the year = (unrecognized prior service costs granted) ÷ (service years in future) ×(service years this year )
= $(600000÷2000×350)
= $105,000
Hence, Mistor's unrecognized prior service cost amortization for the year = $105,000
Complete Question:
Akram owns a small farm.He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbors farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares.
Requirement. Identity two types of short-term finance Akram could use when the farm income is low
Answer with its Explanation:
The two types of short term finances are as under:
- Merchant Cash Advance: It is also known as supplier payables but in fact it is actually an cash advance by supplier to promote its sales by allowing credit for a short term. It doesn't what level of profits the company is earning, the supplier always allow small period for payment of its goods.
- Invoice Financing: It helps the company borrow money from money lenders (mostly banks) against the debtors accounts. This is usually a short term loan with option to expand both time and money if the company has proven to growth and better credit control. The invoice finacing doesn't effect the borrowings in short term if the business profits are low because for qualifying for such loan the company must have better cash postion. Though higher profits might help in securing the short term loan by using invoice financing but cash generation is the key requirement here.
Solution:
Sum Present value of 60 payments
Rent 2000
Periods 60
Rate 12%
Present value of 60 payments $94,405 (Excel = PV( 1% , 60 , 2000))
Future value of these payments at t=9
Future value $1,03,249.99(Excel=FV(1%,9,94,405)
Periods 51
Rate 12%
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- Everyone makes mistakes, but managers and leaders are more likely than others to do so. These include misinterpreting your role, providing poor feedback, being very "hands-off," and inadequate delegation.
- It is true that committing a mistake might provide an opportunity for learning. However, taking the effort to understand how to spot and avoid frequent errors will help you become successful and productive while also earning the respect of your team.
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7 Characteristics No Leader Should Possess
- The propensity for micromanagement.
- Absence of excitement or optimism.
- Opposition to novel concepts.
- Make use of fear as a motivator.
- Failure to appreciate work well done.
- They don't express their expectations in a clear manner.
- Emotional intelligence is lacking.
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