Chapter 13 Current Liabilities and Contingencies Part A: Current Liabilities * Liabilities and owners’ equity on the right-hand side of the equation represent the two basic sources of the assets on the left-hand side. * Characteristics of Liabilities 1. Are probable‚ future sacrifices of economic benefits. 2. Arise from present obligation (to transfer goods or provide services) to other entities. 3. Result from past transactions or events. * Current Liability * Obligations
Premium Bond Accounts receivable Promissory note
9 and 13 02/11/2011 – Wednesday IFRS 13 Reasons for Issuing IFRS 13: * To reduce complexity and improve consistency in application when measuring fair value. Previously‚ there was limited and sometimes conflicting guidance on how to measure fair value. * To enhance disclosures for fair value. IFRS 13 was issued as part of the response to global financial crisis. * Also it is part of the convergence project to reduce differences between IFRS and US GAAP. Introduction: IFRS 13 will:
Premium Balance sheet Generally Accepted Accounting Principles Asset
has to walk to the market to sell her bananas. For every mile that Corey walks‚ she must eat 1 banana. Corey can only carry 1‚000 bananas at one time. For POW 13‚ I have to figure out how many bananas Corey can get to the market. Process To solve POW 13‚ I first worked on a mini-POW to help me figure out POW 13. I used the same process in POW 13 as I did in a mini-POW. The process is as follows: 1. Corey picks up 1‚000 of the bananas‚ travels 200 miles‚ and drop 600 bananas at the 200 mile
Premium Problem solving
13 Colonies Research Essay The 13 colonies were founded by England during the 1600’s -1700’s. The 13 colonies lived different lives from one another. The people in the 13 colonies had their own religious and moral beliefs. The colonists all came to the 13 colonies for there own reasons. Even though the 13 original American colonies were all formed by England‚ differences existed in the reasons they were formed‚ the bases of their economies‚ the types of people who settled‚ and the role played by
Premium Thirteen Colonies New York Religion
ACCOUNTING 226 TEST 1 CH 11-13 NAME DATE ______________________________________ __________ MULTIPLE CHOICE 1.. Companies should ONLY produce and sell units as long as c. the revenue from an additional unit exceeds the cost of producing it. 2. Too high a price may a. deter a customer from purchasing a product. 3. Companies must ALWAYS examine pricing c. through the eyes
Premium Costs Cost Variable cost
ark Chapter 13 – In Class Questions and Answers [pic] Figure 13-7 1. Figure 13-7 shows that by selling 200 pictures the firm will A. break even. B. incur a loss. C. have no fixed costs. D. earn a profit. E. have no variable costs. 2. According to Figure 13-7‚ how much profit will the firm make if it sells 400 pictures? A. $32‚000 B. $35‚000 C. $48‚000 D. $0 E. $20‚000 3. Figure 13-7 shows that by selling 800 pictures the firm will A. earn a profit. B. have no variable
Premium Revenue Economics Costs
FUTT 13 PRODUCT DESCRIPTION (Diesel‚ Bio-Diesel and Gasoline Fuels) FUTT 13‚ 55-gallons AGE is your partner for "Improved Efficiency" & "Proactive Maintenance Solutions" Electrical Generation‚ Shipping‚ Mining‚ # 1‚ # 2 diesel‚ Bio-Diesel and gasoline fuels FUTT 13 is a breakthrough technological formulation which is specifically developed to accelerate the combustion rate of
Premium Internal combustion engine Petroleum Fossil fuel
non-Christian areas. The New Testament attributes 13 letters to Paul‚ many of which are addressed to communities he has already founded and/or visited and are now having issues by means of questions of faith. He writes to these people to address their concerns and in some cases‚ chastise them for turning against their faith. One of the most troubled of Paul’s communities is that of Corinth. Paul hears of issues within the community of Christian Corinthians claiming
Premium Christianity Jesus New Testament
members. Trisomy 13 is an awful chromosomal abnormality that has no cure. This is not a disease such as down syndrome that a child could live with. Research has shown that most babies with Trisomy 13 do not even live to be a year old. The rare percentage of babies that live over a year have severe defects and do not live a long‚ sustainable life. I want my child to have the highest quality of life possible. I would never want to bring a child into the world to have it suffer. Trisomy 13 guarantees a
Premium Pregnancy Abortion Fetus
13 Domestic Cabinet Departments 1.) U.S. Department of Agriculture (USDA) – responsibilities include farming‚ agricultural products‚ food stamps‚ and anti-poverty programs‚ and conservation and natural resource protection. The inspectors of this department are responsible for the safety of the nation’s food supply. 2.) U.S. Department of Commerce- responsible for everything we buy and sell‚ they regulate everything from foreign trade to fishing to the granting of patents‚ they oversee programs
Premium United States Cabinet United States Department of Homeland Security