CHAPTER 13 – CURRENT LIABILITIES AND CONTINGENCIES I. Liabilities A. Three Characteristics 1. Probable‚ future sacrifices of economic benefits 2. That arise from present obligations 3. Resulting from past transactions B. Current Liabilities 1. Payable within 1 year 2. Reported at maturity value C. Types of Current Liabilities 1. Accounts Payable a. Buy merchandise on account
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Checkpoint Week One Exercise E9-2 E9-2 Trudy Company incurred the following costs. 1. Sales tax on factory machinery purchased $ 5‚000 2. Painting of and lettering on truck immediately upon purchase 700 3. Installation and testing of factory machinery 2‚000 4. Real estate broker’s commission on land purchased 3‚500 5. Insurance premium paid for first year’s insurance on new truck 880 6. Cost of landscaping on property purchased 7‚200 7. Cost of paving parking lot for
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Jaynet spends $30‚000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm- one offer was for $110‚000 per year‚ and the other was for $80‚000. However‚ she turned both jobs down to continue a painting career. If Jaynet sells 25 paintings per year at a price of $8‚000 each: a. What are her accounting profits? Accounting profits are equal to the total amount of money taken in sales‚ income or/ and revenues minus the dollar cost of production
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Case Study: Metallurgy Plus & Custom 500 1. Industrial Relations issues include: - Lack of due diligence by the company for not carrying out proper investigations into a plausible allegation. - Insufficient protection of a worker by the management\supervisor resulting in exposure to mental and emotional harassment and eventual violence. -Inaction by a supervisor following a worker’s complaint of harassment\intimidation. - Measures should have been put in place to stop or address the
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Chapter 13 Student: ___________________________________________________________________________ 1. As an exporter‚ according to the opening case‚ which of these is a key problem for Megahertz Communications? A. Credibility of foreign governments B. Financing C. Substandard products for foreign markets D. Language E. Country specific technical standards 2. In the United States‚ what percent of firms export‚ according to the U.S. Small Business Administration? A. Nearly 98 percent B. About 23 percent
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industry should not feel obligated to use plus sized models in their campaigns. Do you agree? Women these days are constantly bombarded with advertisements and campaigns telling them what they should wear‚ what they should eat and how they should portray themselves. It has become a race to try and achieve a size zero look because women feel as if it has become the new norm. That is why‚ I believe the fashion industry should be obliged to use plus size model. A plus size model is a model who is a US size
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Apollo 13 was planned as a Type H mission; Apollo 13 was the third mission to land on the moon. The spacecraft lifted off on April 11‚ 1970. The three crew members were Commander James A. Lovell‚ Command Module Pilot John L. Swigert‚ and Lunar Module Pilot Fred W. Haise. Unfortunately‚ two days later the oxygen tank exploded which force them to terminate lunar landing. According to NASA‚ Apollo 13 seem to be the smoothest flight till the first 55 hours and 46 minutes‚ nine minutes after the TV broadcast
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<http://www.cdc.gov/vaccines/pubs/pinkbook/ downloads/polio.pdf>. Accessed 2007 November 26. Da Costa‚ Gilbert. 2007 October 25. Setback for Nigeria’s Polio Fighters. <http://www.time.com/time/printout/0‚8816‚1675423‚00.html. Accessed 2007 November 6. Harrison‚ Tinsley Randolph and Braunwald‚ Eugene. 2002. Harrison’s Manual of Medicine. United States of America: McGraw-Hill. pp. 499. World Health Organization. 2006. Poliomyelitis. <http://www.who.int/mediacentre/factsheets/fs114/en/print.html>. Accessed
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Principles of Marketing‚ 14e (Kotler) Chapter 13 Retailing and Wholesaling 1) ________ includes all the activities involved in selling products or services directly to final consumers for their personal‚ nonbusiness use. A) Franchising B) Retailing C) Brokering D) Wholesaling E) Disintermediation Answer: B Diff: 1 Page Ref: 374 Skill: Concept Objective: 13-1 2) In recent years‚ ________ has been growing fast. This includes selling to final consumers through direct mail‚ catalogs‚ telephone
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Team Project Go Healthy Plus Health Club Go Healthy Plus is a health club that offers a full range of services to its clients. Recently‚ two other fitness clubs have opened up in town‚ threatening Go Healthy Plus’ solvency. While Go Healthy Plus is tops among serious fitness buffs‚ it has not attracted a wide spectrum of members. Joe Rushing‚ owner and manager‚ has decided it’s time for a face lift. He started the process by sponsoring a week-long “ideathon” among club members. Nonmembers who
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