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galina1969 [7]
2 years ago
9

Hart Technology must accrue a loss contingency. The amount of the loss can be reasonably estimated within a range of outcomes. O

f these outcomes, no single amount within the range is a better estimate than any other amount, but the attorneys have determined that the most probable amount to be paid by Hart Technology would be the minimum amount. What amount of loss accrual should Hart recognize
Business
1 answer:
Shtirlitz [24]2 years ago
3 0

The amount of loss that should be recognized is the <u>minimum amount </u><u>of the </u><u>range. </u>

<u />

<h3>Recording a Contingent liability </h3>
  • It should only be recorded if the loss is probable and the amount to be incurred as liability can be reasonably estimated.
  • If neither of the above are possible, the loss would be recorded as a footnote.

US GAAP rules state however that if the loss is probable and the amount is in a range, the amount to be recorded as a contingent liability should be the minimum of the range.

In conclusion, they should recognize the minimum amount.

Find out more on contingent liabilities at brainly.com/question/17371330.

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Social mobility in the u.s. does not depend on where one starts in the class system anthropolgy
alexgriva [62]
The statement above is TRUE.
Social mobility refers to the movement of individuals or families within or between social strata in a particular society. It means a change in social status relative to one's present location with a given society. Social mobility in US does not depend on where one start in the class system; one can come from the lowest class strata and become one of the richest individual and an individual from a very rich family can also end up as a p.auper. A lot of factors come to play in these situations.
6 0
3 years ago
At Davide Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied. O
soldi70 [24.7K]

Answer and Explanation:

For materials

Equivalent completed units = Completed units + WIP ending

= 111,700 + 20,300

= 132,000 units

Cost of materials = Beginning WIP + Cost of materials added

= 22,300 + 370,000

= $392,300

Cost of material per units = 392,300 ÷ 132,000

= $2.97197

For conversions

Equivalent completed units = Completed units + WIP ending

= 111,700 + 20,300 × 30%

= 117,790 units

Cost of Conversion = Beginning WIP + Cost of conversion added

= 19,700 + 280,000

= $299,700

Cost of conversion per units = 299,700 ÷ 117,790

= $2.54436

Total cost of units completed and transferred out

= 111,700 × (2.97197 + 2.54436)

= $616,174

4 0
3 years ago
Salt Company is considering investing in a new facility to extract and produce salt. The facility will increase revenues by $220
e-lub [12.9K]

Answer:

12%

Explanation:

Annual net income:

= Increase in annual revenue - Increase in annual costs

= $220,000 - $160,000

= $60,000

Average investment:

= (Initial investment + Salvage value at the end) ÷ 2

= (980,000 + 20,000) ÷ 2

= $500,000

Annual rate of return:

= (Annual net income ÷ Average investment) × 100

= ($60,000 ÷ $500,000) × 100

= 12%

5 0
3 years ago
what is the true difference between consultative leadership and participative leadership in decisiion making?
Anastasy [175]

The difference between consultative leadership and participative leadership in decision making is that in consultative leadership employees do not have decision-making power they can only share their opinions but in participative leadership, everyone works together for decision making.

A leader who shares decision-making with organization participants. 3 subtypes of participative leaders consist of consultative, consensus, and democratic. Consultative leaders confer with subordinates earlier than you make a decision; but, they maintain the authority to make very last selections.

Consultative leadership fashion is set growing the capacity to persuade people in place of enforcing their authority on them, enticing the subordinates or employees efficiently in the decision making. Such leaders ask humans for their minds & permit them to technique the problem and locate a nice feasible solution. The consultative chief uses the talents, thoughts, and enjoyment of others, however, the final choice is made by using a leader. Such a leader has interacted with his time or more important tasks, gives proper popularity, and evaluates all the alternatives before making the very last choice.

The participative leader entails himself because a member of the group & makes choices alongside the group. Such a leader seeks consensus and all and sundry have to take possession within the final decision. In a participative management fashion team participants and leaders, thoughts are taken into consideration as identical, and the body's input is considered. right here leader is a facilitator, educates, and frequently embraces crew thoughts over their very own, creating a tradition of innovation and focusing on promoting creativity.

Learn more about participative leadership here brainly.com/question/20464132

#SPJ4

5 0
1 year ago
A common size analysis requires the representation of financial statement data relative to a single financial statement item (or
MArishka [77]

Answer:

The correct answer is letter "C": Total assets.

Explanation:

Total assets represent the total amount of assets that an individual or entity possesses to obtain a return from them. In accounting, it is obtained by subtracting the previous period total assets minus the current period total assets. They appear in the Balance Sheet of a company and is the baseline or common base item to which other line items are expressed.

7 0
3 years ago
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