If your plan coverage includes an extended replacement cost, you need to update your plan at least once per year.

Pierre wants to use the loan manager to track the long-term liability for his new pickup truck. what accounts must he set up pri

dusya [7]

To track the long-term liability for his new pickup truck Pierre has to set up a long-term liability account register.

A long-term liability account register lists transactions related to debts that are due in more than one year like a mortgage. . Long-term liabilities are also known as non-current liabilities You can use a long-term liability account register to track and manage transactions that affect your long-term liability account.

In a long-term liability account register Debt ratios (such as solvency ratios) compare liabilities to assets. The ratios may be modified to compare the total assets to long-term liabilities only.

This ratio is called long-term debt to assets. Long-term debt compared to total equity provides insight relating to a financing structure and financial leverage. Long-term debt compared to current liabilities also provides insight regarding the debt structure.

TO learn more about long-term liability account register here

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5 0

10 months ago

A company purchases a remote building site for computer operations. The building will be suitable for operations after some expe

nevsk [136]

Answer:

B. The cost of the building will include the cost of replacing the roof.

3 0

2 years ago

The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking u

jenyasd209 [6]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

5 0

3 years ago

17-04On January 1, 2020, Carla Company purchased 11% bonds, having a maturity value of $328,000 for $353,515.61. The bonds provi

alexandr402 [8]

Answer:

Debt securities 328,000.00 debit

premium on Debt securities 25.515,61 debit

Cash 353,515.61 credit

cash 36,080 debit

premium on Debt securities 4,263.6 credit

interest revenue 36,080 credit

unrealized loss 14.547,99‬ debit

premium on debt securities 21.252,01‬ debit

discount on debt securities 35,800 credit

unrealized loss 10.782‬‬ debit

discount on debt securities 10.782‬ credit

Explanation:

interest will be carrying value times market rate:

353,515.61 x 9% = 31.816,40 interest

cash proceed 328,000 x 11% = 36,080

amortization on premium: 4.263,6‬

premium after proceeds:

25.515,61 - 4,263.6 = 21.252,01‬

Then, we adjust the bonds to the fair value against the premium

353,515.61 - 4,263.6 = 349.252,01‬

fair value as 2017 <u> 292,200 </u>

adjustment: 57,052.01‬

we will erase the premium and do a discount for:

328,000 - 292,200 = 35,800

we do the same process for 2018:

292,200 x 0.09 = 26.298‬

cash proceed 328,000 x 11% = 36,080

amortization on discount: 9,782

35,800 - 9,782 = 26.018‬

book value 292,200 + 9,782 = 301.982‬

fair value <u> 291,200</u>

additional discount on 10.782‬

we again have an unrealzied loss until we sale the bonds

3 0

2 years ago

Assume that apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002 and $1.50 in 2009. If 4 apples were produc

marissa [1.9K]

Answer:

$6.50

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year.

Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

Real GDP in 2009 = ($0.50 x 5) + ($1 x 4) = $6.50

8 0

2 years ago