Answer:
$110,000
Explanation:
Calculation for What is the machine's original cost basis that the firm records on the balance sheet
Machine's Original cost basis
Machine Cost $100,000
Add Sales Tax $7,000
Add Shipping Cost $3,000
Machine's Original cost basis $110,000
($100,000+$7,000+$3,000)
Therefore the machine's original cost basis that the firm records on the balance sheet will be $110,000
Answer:
Situation 1 is a probably contingency. This recall is occurring and can be estimated as costing $2 million. This amount should be charge to the warranties payable and warranties expense accounts.
Date
Particulars
Ref.no
Debit $
Credit $
Warrantee expenses
20,00,000
Warranty payable account
20,00,000
[To record the estimated claims]
Comment
Step 3 of 3
Situation 2 is a reasonable contingency. The costs are possible and there are rough estimates for cleanup but there are also rough estimates about reimbursements for property damage. This situation would be disclosed on the balance sheet.
Situation 3 is a remote contingency. There is a small change that there could be property damage but there is no way to determine how much or what the costs could be. There is no amount marked down for this situation
Explanation:
Answer:
The correct answer is a. Rational decision-making perspective.
Explanation:
The rational model pursues the constitution of a process of choice among alternatives to maximize the benefits of the organization. It includes a broad definition of the problem, an exhaustive collection and analysis of the data, as well as a careful evaluation of the alternatives. Andreu, in the year (2001), affirms that the criteria for evaluating alternatives are well known and assumes that the generation and exchange of information between individuals is objective and precise. Therefore, the rational decision-making model is based on 3 explicit assumptions:
- All available information related to the alternatives has been obtained.
- These alternatives can be classified according to explicit criteria.
- The selected alternative provides the maximum possible profit for the organization (or for decision makers).
The fortunes of the English gentry degenerated primary due to the reformation of the voting law. Initially, only land-owning gentry has the right to vote and they used their right to control the laws governing land ownership. When the voting law was reformed, the power of the gentry diminished, enabling non-gentry individuals to own land and create factories.
Since, the English gentry get their fortunes from leases on their lands used for farming, they were very affected when the people working on their lands opted to go to the city and become factory workers. Thereby decreasing their rental income.
Land taxes also increased and because some portion of the English gentry's land became idle and unproductive, they were not able to pay the increasing land taxes; forcing them to sell and dispose of their land to meet their tax obligations.
Answer:
$365.93
Explanation:
The computation of the checkbook balance is shown below:
= Balance of bank statement - first outstanding check amount - second outstanding check amount
= $414.25 - $26.54 - $21.78
= $365.93
In order to determine the check book balance, we deducted the two outstanding checks from the bank statement balance
