you have been asked to review the december 31, 2024, balance sheet for champion cleaning. after completing your review, you list the following three items for discussion with your superior: an investment of $34,000 is included in current assets. management has indicated it has no intention of liquidating the investment in 2025. a $140,000 note payable is listed as a long-term liability, but you have determined that the note is due in 10 equal annual installments with the first installment due on march 31, 2025. deferred revenue of $72,000 is included as a current liability even though only two-thirds will be recognized as revenue in 2025, and the other one-third in 2026. determine the appropriate classification of each of these items.
Answers
In summary, the appropriate classification for each item is as follows:
Investment of $34,000: Long-term investment
$140,000 Note Payable: $14,000 as a long-term liability and $126,000 as a current liability
Deferred Revenue of $72,000: $48,000 as a current liability and $24,000 as a long-term liability.
Based on the information provided, the appropriate classification for each item is as follows:
Investment of $34,000: Since management has indicated no intention of liquidating the investment in 2025, it should be classified as a long-term investment rather than a current asset. This means it should be moved from current assets to long-term assets on the balance sheet.
$140,000 Note Payable: The note payable is due in 10 equal annual installments, with the first installment due on March 31, 2025. Since the first installment is due after one year from the balance sheet date, $14,000 ($140,000 divided by 10) should be classified as a long-term liability, and the remaining $126,000 should be classified as a current liability.
Deferred Revenue of $72,000: Since two-thirds of the deferred revenue will be recognized as revenue in 2025 and the other one-third in 2026, the appropriate classification would be as follows: $48,000 ($72,000 multiplied by 2/3) should be classified as a current liability, representing the portion that will be recognized as revenue in 2025. The remaining $24,000 ($72,000 multiplied by 1/3) should be classified as a long-term liability, representing the portion that will be recognized as revenue in 2026.
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Related Questions
Using SMART goal-Written criteria blank refers to asking how ?
A.measurable
B.timely
C.specific
D.realistic
E.attainable
Answers
Answer:
A.measurable
Explanation:
Smart is an acronym Specific, Measurable, Achievable,
Realistic and Timely. These are attributes that guide how goals or objectives should be set.
The question of " how" is answered by the attribute 'measurable.'
In this criterion, measurable describes the specific criteria to be used and the ways of measuring progress toward accomplishing the goal. The path to achieving the objective must be meaningful and motivating.
Answer:
Measurable
Explanation:
are independent directors of mutual funds more or less powerful than the independent directors of a publicly traded u.s. company?
Answers
The reason is that, unlike a mutual fund, the shareholders of a listed firm hold a leader of that firm more account. As an end, directors get more sway in management to ensure as stock price be maximized.
What becoming a shareholder entails?
A person or organization that has contributed funds to a company in exchange for just a "share" of ownership is referred to as a shareholder. Common and preferred come to the fore by the corporation and retained (i.e., owned) by shareholder serve as a representation of such ownership. Owners of the firm, or technically component if there are more than one, shareholders aren't usually involved in day-to-day operations; that responsibility is given to the board of directors and company management.
However, company directors can also be shareholders.
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The repayment of a note payable is classified in the statement of cash flows as a(n): _______
a) noncash activity.
b) investing activity.
c) operating activity.
d) financing activity.
Answers
The repayment of a note payable is classified in the statement of cash flows as a financing activity.
The financing activity in the cash flow statement focuses on how a firm raises capital and pays it back to investors through capital markets. The largest line items in the cash flow from financing activities statement are dividends paid, repurchase of common stock, and proceeds from the issuance of debt.
The cash flow from financing activities helps investors see how often and how much a company raises capital and the source of that capital.
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Corporate bond A has a 6 percent coupon and matures in 3 years. Corporate bond B has a 6 percent coupon and matures in 15 years. The current interest rate is 6 percent. By how much will Bond A and Bond B change in price if the market rate increases to 6.5 percent
Answers
Answer:
New price of bond A = $986.76, this means that the price decreased by $13.24 or 1.32%.
New price of bond B = $952.99, this means that the price decreased by $47.01 or 4.7%.
Explanation:
Since the current market interest is 6%, then both coupons A and B are sold at face value. If the market interest increases to 6.5%, then
New price of bond A:
PV of face value = $1,000 / (1 + 6.5%)³ = $827.85
PV of coupon payments = $60 x 2.64848 (PV annuity factor, 6.5%, 3 periods) = $158.91
New price of bond A = $986.76, this means that the price decreased by $13.24 or 1.32%.
New price of bond B:
PV of face value = $1,000 / (1 + 6.5%)¹⁵ = $388.83
PV of coupon payments = $60 x 9.40267 (PV annuity factor, 6.5%, 3 periods) = $564.16
New price of bond B = $952.99, this means that the price decreased by $47.01 or 4.7%.
An investor purchases a long call at a price of $3.00. The exercise price is $45. If the current stock price is $45.10, what is the break-even point for the investor? O $48.10 $48.00 $45.00 $42.00
Answers
The break-even point for the investor in this scenario is $48.00.
To answer this question, we need to understand what a long call option is and how it works. A long call option gives the investor the right, but not the obligation, to buy a certain stock at a certain price (the exercise price) on or before a certain date. If the stock price goes up, the value of the option also goes up, and the investor can sell it for a profit.
In this case, the investor purchased a long call at a price of $3.00, with an exercise price of $45. If the current stock price is $45.10, the option is "in the money", meaning it has intrinsic value. To find the break-even point, we need to calculate the price at which the investor would make a profit on the option.
To do this, we add the price of the option ($3.00) to the exercise price ($45), giving us a total of $48.00. This is the price at which the investor would break even on the option. Any price above $48.00 would result in a profit for the investor, while any price below $48.00 would result in a loss.
In conclusion, the break-even point for the investor in this scenario is $48.00. It's important for investors to understand the risks and potential rewards of options trading before getting involved, as it can be a complex and volatile market.
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what happens to the APR after 10 months
Answers
Answer: Once your 0% introductory APR period is over, you'll be charged a new interest rate and may even owe interest on any unpaid balance from before.
Explanation:
i think that's what you mean
You are an American, working for a US hospital. The hospital sells services to a French hospital. Given a depreciation of the Euro, your French subsidiary (the one that receives the revenues from the French Hospital) received a lesser income last year, although a clause in your contract stipulates adjustment payment in US dollars. Therefore, your subsidiary has a balance sheet loss, although your consolidated global result is positive. This type of foreign exchange risk is known as:
Answers
Answer:
translation exposure
Explanation:
Translation exposure is also known as translation risk. In this type of risk, the value of a company's assets, equities, income, or liabilities change due to changes in the exchange rate,
French subsidiary received a lesser income last year, although payment will be adjusted in US dollars as per the contract.
Due to this, the subsidiary has a balance sheet loss, although the consolidated global result is positive.
This type of foreign exchange risk is known as translation exposure.
employers should use all of the following guidelines in developing a search policy except:
Answers
Employers should use all of the following guidelines in developing a search policy except requiring invasive searches of employees' personal belongings without cause.
When developing a search policy, employers should consider several guidelines to ensure a fair and respectful approach. These guidelines typically include:
Clearly defining the purpose and scope of searches: Employers should establish the reasons for conducting searches and specify the areas or items subject to search.
Respecting employee privacy: Employers should strike a balance between maintaining security and respecting employees' privacy rights. Searches should be conducted in a manner that minimizes intrusion and respects personal boundaries.
Providing notice and obtaining consent: Employers should inform employees about the search policy and obtain their consent. This helps establish transparency and ensures that employees are aware of their rights and responsibilities.
Conducting searches in a non-discriminatory manner: Employers should apply search policies uniformly and avoid targeting individuals based on protected characteristics such as race, gender, or religion.
Following applicable laws and regulations: Employers should adhere to local, state, and federal laws regarding employee searches to avoid legal issues and potential liabilities.
However, requiring invasive searches of employees' personal belongings without cause goes against the principles of respecting employee privacy and may infringe upon their rights. Therefore, it is not a recommended guideline in developing a search policy.
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Question 5 of 20
Which is an advantage of paying off a liability?
OA. The liability remains a liability.
B. The liability starts to lose valu
OC. The liability starts to gain value.
OD. The liability can become an asset.
Answers
Answer:
OD is the answer because a liability can become an asset once paid
An advantage of reimbursing the liability is that it becomes an asset when it is being paid.
Option D is correct.
What is an asset?An asset is the monetary resource of a company which is acquired so that the company would get the maximum benefits in the near future. It is the secondary part of balance sheet which is further classified into two parts namely, current and non-current assets.
Liability is referring to the obligation of a company regarding which the repayment would be done after a certain period of time. In order to repay the liabilities like short-term and long-term borrowings, the assets which can be easily converted into cash are being considered. For instance, the amount due from debtors is a current liability and when it is paid, then it is considered to be a current asset.
Therefore, the advantage written in option D is correct.
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What is the total annual dividend received from owning 75 shares of stock A, if Company A issues a $0.20 quarterly dividend to its shareholders? total annual=__ Round to the nearest hundredth.
Answers
The total annual dividend received is $60.
The computation of the total annual dividend is as follows:
Given that
There are 75 shares.
And, the quarterly dividend is $0.20.
So,
The annual dividend should be
= $0.20 × 4 quarters
= $0.80
Now the annual dividend is
= 75 shares × $0.80
= $60
Therefore we can conclude that the total annual dividend received is $60.
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A company reported that its bonds with a par value of $50000 and a carrying value of $66.500 are retired for $71,400 cash, resulting In a loss of $4,900. The amount to be reported under cash flows from financing activities is: a. $(71,400). b. $(16,500). c. $(66,500). d. $16,500. e. $(4,900).
Answers
The correct answer is (a) $(71,400).
When a company retires bonds, cash flows from financing activities will be affected. Bonds with a par value of $50,000 and a carrying value of $66,500 were retired for $71,400 cash, resulting in a loss of $4,900.
The company will report cash flows from financing activities of $(71,400). This is calculated by subtracting the carrying value of the bonds ($66,500) from the amount received for the retirement of the bonds ($71,400). The loss of $4,900 is not reported in the statement of cash flows.
The other answer choices are incorrect because:
- (b) $(16,500) is incorrect because it is the difference between the par value of the bonds ($50,000) and the cash received for the retirement of the bonds ($71,400).
- (c) $(66,500) is incorrect because this is the carrying value of the bonds, which was not reported in the statement of cash flows.
- (d) $16,500 is incorrect because it is the difference between the cash received for the retirement of the bonds ($71,400) and the par value of the bonds ($50,000).
- (e) $(4,900) is incorrect because this is the amount of the loss that was not reported in the statement of cash flows.
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The pros and cons of new product concepts are analyzed during the idea generation phase of new product development.
True
False
Answers
Other things equal, when price falls, the quantity demanded rises. this represents the ______ relationship between the price and quantity demanded.
Answers
Answer:
negative or inverse
Explanation:
got answer from quizlet
Would you consider VFITX to be a good investment choice? why or why not.
Answers
A moderate and sustainable amount of current income is the goal of the investment. The fund makes at least 80% of its investment in U.S. Treasury securities, which include Treasury bills, bonds, and notes.
What are Treasury bills?Having a maturity of one year or less, a Treasury Bill (T-Bill) is a short-term obligation of the United States government backed by the Treasury Department.
Typically, $1,000 bills are available for purchase from the Treasury. However, some can place non-competitive bids up to a maximum denomination of $5 million. These securities are frequently viewed as safe and low-risk investment options.
T-Bills are sold by the Treasury Department in auctions that feature both competitive and non-competitive bidding. The price of a noncompetitive bid, sometimes referred to as a noncompetitive tender, is determined by averaging all the competitive offers that were received.
The tangible net worth of T-Bills is typically very high. T-bills are issued by the U.S. government to pay for a range of public works initiatives, including the building of roads and schools.
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or placing trade restrictions on other countries to shield domestic industries from
competition, takes many forms.
are taxes imposed on imported goods and services.
place limits on the amount of a good that can be imported from a particular country.
Early in the twentieth century, the United States imposed
Y agricultural
goods. While this measure protected US farmers, it caused European governments to impose
tariffs
on US products. Heavy tariffs on imports led to a drastic decline in international trade, which further weakened the
global economy and aggravated the Depression.
Today, some US workers believe the government should
protectionism to protect their industries from
foreign competition and prevent job
in the United States. This thought is shared by
some business owners as well.
Answers
Answer: protectionism, tariffs, quotas, tariffs, European,
retaliatory, increase, cheaper, losses
Explanation: Plato / Edmentum
.
Say that you (or your parents) are purchasing a house for $235,000 and have an excellent credit score. If you pay $1,678.93 at the end of the first month, how much is applied to the principal balance?
Secured Unsecured
Credit APR (%) APR (%)
Excellent 4.75 5.50
Good 5.00 5.90
Average 5.85 6.75
Fair 6.40 7.25
Poor 7.50 8.40
$616.29
$685.25
$721.19
$748.72
Good 5.00 5.90
Average 5.85 6.75
Fair 6.40 7.25
Poor 7.50 8.40
$180.22
$133.88
$124.78
$141.93
Answers
Answer:
the answer should be 748.72
Explanation:
What is the difference between the pre-reservation and installment
Answers
Answer:
is that reservation is the act of reserving, withholding or keeping back while installment is the act of installing; installation or installment can be a portion of a debt, or sum of money, which is divided into portions that are made payable at different times payment by installment is payment by parts at different
This research aims to distinguish marketing strategies for acquiring new customers versus product marketing strategies for retaining customers. Are these conflicting objectives? Can Capri Sun find the ""Goldilocks"" product strategy for achieving both goals?
Answers
The primary conflict between the two marketing objectives, i.e acquiring new customers and retaining existing ones, is that they require different strategies and tactics. Capri Sun can find the perfect product strategy that achieves both marketing objectives by developing a balance between the two conflicting goals and adapting to the market's changing trends.
In contrast, customer retention requires building a more personal relationship with customers and developing long-term loyalty through excellent customer service, product quality, and brand reputation.
Acquiring new customers requires more aggressive marketing strategies to reach new audiences, such as advertising campaigns, product launches, and market research, among other things. Furthermore, the cost of acquiring new customers is typically higher than retaining existing ones, making it challenging to find a balance between the two objectives.
Capri Sun can find the "Goldilocks" product strategy for achieving both goals by creating a balance between the two conflicting objectives. The company can retain its existing customer base while simultaneously targeting new customers by focusing on product innovation and improving brand awareness.
Capri Sun can achieve this by launching new products that cater to the needs of its existing customer base while also introducing new products that target potential customers.
In addition, the company can create customer loyalty programs that reward customers for their continued patronage. The customer retention program can offer incentives such as discounts, promotions, and special offers to retain their existing customer base. Capri Sun can use customer feedback and data analytics to understand what their customers want and provide them with personalized offers.
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In a business, legal counsel is an important source of information and advice is solely responsible for making decisions about how to resolve a dispute. True or false?.
Answers
The resolution of disputes in the company is not just a task for attorneys to do. Legal counsel is a crucially essential source of information and guidance, but ultimately, the managers and owners of the firm decide how to resolve a disagreement. Therefore the given statement is False.
The role of a legal counsel is that of a general attorney who works for the corporation and is not an independent contractor. To ensure that rules are followed, they collaborate with management and staff members inside their company.
A dispute is a disagreement, quarrel, or controversy that frequently results in legal action being taken (such as arbitration, mediation, or a lawsuit). It is argued that the opposing parties are at odds with one another (see also an adverse party).
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What careers are in the Information Support and Services career pathway of the IT career cluster? (15 points for you)
Question 1 options:
graphic artists, painters, artists
broadcasters, journalists, writers
help desk specialists, PC support specialists
Answers
Which best describes a mixture?
ООО
It has a single composition, and it has a set of characteristics that does not change.
It can have different compositions, but it has a set of characteristics that does not change.
It has a single composition, but it has a set of characteristics that does change.
It can have different compositions, and it has a set of characteristics that does change.
Answers
Answer: it can have different compositions, and it has a set of characteristics that does change.
Explanation:
A mixture is form when other substances are being mixed together. In such scenario, it has different composition and it characteristics are been altered.
Therefore, the option that best describes a mixture is option D "It can have different compositions, and it has a set of characteristics that does change"
Answer:
D.
Explanation:
my boss just took 70 dollars out of my paycheck and he said, "i cant believe you yelled at one of our costumers." and I have no idea what he is talking about. Is this something i should take to the owner of the store?
Answers
Asking a candidate during an interview to indicate how they have responded in the past to an irate customer is an example of which assessment method?
Answers
Asking a candidate during an interview to indicate how they have responded in the past to an irate customer is an example of a situational interview.
We regret to inform you that (organization) is not considering your application for this position. Your qualifications are excellent, but the selection process is very competitive and we have decided to hire candidates whose qualifications better suit our needs at this time.
Because structured interviews are more efficient than semi-structured and structured interviews in predicting job performance. Meta-analysis studies show that structured interviews are up to twice as effective at predicting job performance as situational interviews.
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A fall in labor costs will cause aggregate Group of answer choices supply to decrease. demand to decrease. supply to increase. demand to increase.
Answers
A fall in labor costs will cause aggregate supply to increase, not decrease. This is because lower labor costs can lead to increased production efficiency and lower prices for consumers, which can increase overall supply in the market.
It is important to note that a decrease in labor costs may also lead to an increase in demand, as lower prices can make products more affordable and desirable to consumers. A fall in labor costs is likely to cause aggregate supply to increase, not decrease. This is because lower labor costs can result in lower production costs for businesses, which can increase their profitability and encourage them to produce more goods and services, thereby increasing the aggregate supply. Therefore, the correct answer is "supply to increase."
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if inventory is in stock what does that mean?
Answers
Answer:
So inventory is like what you have in stock so like if i sold shirts i would say i have 16 shirts in my inventory but i need to get more in stock
Explanation:
In 2013, the Oakland A's were one of the hottest teams in baseball. They were regularly drawing "sellout" crowds, with many more fans wanting tickets. However, the A's did not sell all of the 56,000 seats. The A's removed or put tarps over roughly 20,000 seats in most of the third deck and the outfield stands. The A's management said that the reason was to create a more intimate feeling for the fans. What's another explanation? The A's removed or put tarps over roughly 20,000 seats to
Answers
Answer:
The other reason was to limit the number of special seats to charge a higher price for them.
Explanation:
Oakland A's knows that it has a large number of dedicated fans and that they are thirsty for tickets to watch the games, as these tickets are in high demand. In this case, when Oakland A's puts tarps or removes only on 20,000 seats and claims that it is to promote a more intimate experience for fans, it is because it knows that fans will want to occupy these special places, no matter what price they need to pay. In this case, we can say that a probable reason for the existence of these 20,000 unavailable seats is to increase the profit from ticket sales, by charging a higher price for the available seats.
Production is at its best when minimum cost is used to achieve maximum output with efficiency. You are required to discuss the best production intensive that could help achieve this plan, stating reasons of your chosen production intensive.
Answers
One of the best production intensive that could help achieve maximum output with efficiency is known as lean production.
Why is lean production the best option for achieving maximum output?As a manufacturing methodology, its emphasizes minimizing waste while maximizing productivity by focusing on reducing non-value-added activities such as overproduction, inventory, defects, waiting, overprocessing and unnecessary motion.
By doing so, it helps businesses achieve higher output with fewer resources, less time, and lower costs. The method also encourages continuous improvement, teamwork, and customer satisfaction which allows companies to be more flexible, responsive, and competitive in today's dynamic market.
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After a job interview, you should _____.
A. Celebrate
Write a thank you letter
call the interviewer immediately to see if you got the job
call your friend to tell them about the interview
Answers
Answer:
I think that after a job interview you should call your friend and tell them about the interview you should not celebrate because you don't know if you've gotten the job and if you call your friend they might give you hope on getting the job
Why do you think technical education is important? Explain in 2 points.
Answers
Answer:
it makes the students skilled and technically fit for the industries. If we talk about the technical education, it contributes a major share to the overall education system and plays an important role in the social and economic development of our nation.
Answer:
The main aim of the technical education is that, it makes the students skilled and technically fit for the industries. ... If we talk about the technical education, it contributes a major share to the overall education system and plays an important role in the social and economic development of our nation.
why do life insurance companies use participation financing for larger projects? unset starred question to be the first in line when the property goes up for sale to increase their exposure by having their names on prominent buildings to invest in their local community to realize higher returns
Answers
Life insurance companies use participation financing for larger projects to diversify their investments, realize higher returns, increase brand exposure, and invest in their local communities.
Life insurance companies use participation financing for larger projects for several reasons:
Diversification of Investments: Participation financing allows life insurance companies to diversify their investment portfolios. By investing in larger projects, they can spread their risk across different industries and asset classes. This helps them mitigate potential losses and maintain a balanced portfolio.
Potential for Higher Returns: Participating in larger projects presents the opportunity for higher returns on investment. These projects often involve substantial infrastructure developments or commercial properties that have the potential for significant appreciation over time.
By investing in such projects, life insurance companies aim to generate attractive returns for their policyholders.
Building Brand Exposure: Investing in larger projects enables life insurance companies to increase their exposure and visibility. By having their names on prominent buildings or participating in high-profile developments, they can enhance their brand recognition and establish a strong presence in the local community.
This can contribute to building trust and credibility among potential policyholders.
Supporting Local Communities: Participating in larger projects allows life insurance companies to invest in their local communities. By funding infrastructure developments, commercial properties, or other significant projects, they contribute to the growth and development of the areas where their policyholders reside.
This investment not only benefits the community but also helps strengthen the insurer's relationship with policyholders.
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