Answer:
A production possibility frontier (PPF) illustrates the combinations of output of two products that a country can supply using all of their available factor inputs in an efficient way. One way the PPF can shift outwards is if there is an increase in the active labour supply
What this agent has to do should be to advise the buyer that there may be special assessments levied against property.
<h3>Who is a house agent?</h3>
This is a person that acts as a third party to a person that wants to buy or rent a house and the person that is giving out the property.
The agent here has to tell the buyer that the reason for these taxes is the fact that there are other levies on the property.
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Answer:
Entry to record adjustment:
COGS Dr $9.4m
Inventory Cr $9.4m
Explanation:
The question relates to a change in accounting policy. According to IAS 8 (changes in accounting policy and estimate), a change in accounting policy is to be reflected retrospectively and prospectively, which means any changes should be implemented by bringing changes in the past records. Since CPS company has been using FIFO method, the inventory has been overstated in the financial statements. A shift to AVCO has resulted in a decrease in inventory value.
The value of inventory has to be reduced as a result of change in accounting policy (i.e $38m - $28.6m). This is the closing inventory so a reduction in the value of closing inventory results in an increase in cost of goods sold (COGS), therefore, the adjusting entry will be aimed at reducing inventory and increasing cost of goods sold, see as follows:
Entry:
COGS Dr $9.4m
Inventory Cr $9.4m
Anita is a new buyer. luckily <u>her title insurance</u> will help her before the sale and can reimburse her after the sale if a title issue arises.
Insurance is a manner to manage your risk. whilst you buy insurance, you buy protection in opposition to unexpected financial losses. The insurance company pays you or someone you choose if something awful takes place for you. when you have no coverage and an accident occurs, you'll be answerable for all related costs.
The six maximum commonplace types of car insurance are automobile legal responsibility coverage, uninsured and underinsured motorist coverage, comprehensive insurance, collision insurance, clinical bills, and personal damage protection.
Amongst country-wide insurers, USAA has the most inexpensive fees, at $36 per month, with country Farm in 2d location, at $44 consistent per month. The cheapest nearby employer is Farm Bureau, at $39 according to month.
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Bonds payable that are <u>long-term obligations</u> are typically recorded on the balance sheet.
<h3><u>How do long-term liabilities work?</u></h3>
Long-term liabilities are debts owed by a business that won't be paid off for at least a year. To give a clearer picture of a company's present liquidity and its capacity to meet its obligations as they come due, the current part of long-term debt is broken out separately from other debt.
Long-term liabilities are also referred to as noncurrent liabilities or long-term debt. The balance sheet's part that may include debentures, loans, deferred tax liabilities, and pension obligations is where long-term liabilities are stated following more immediate liabilities.
Liabilities that are greater than one year in duration or that are not due within the next 12 months are referred to as long-term liabilities. The time it takes a business to convert its inventory into cash is known as its operational cycle.
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