CourseLover

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About CourseLover

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Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 287 Weeks Ago, 3 Days Ago
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Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 14 Dec 2017 My Price 10.00

Intro to Financial Accounting : Liabilities

Intro to Financial Accounting : Liabilities

Question 1 Which of the following is  not  a characteristic of a liability? There is a probable future sacrifice of resources. There is a fixed payment amount and payment date. There is little discretion to avoid the obligation. The event giving rise to the liability has already occurred. Question 2 Melman Microscopes Inc. offers a two-year warranty against failure of its products. The estimated liability is  1.5% in the year of sale and 3% in the second year. Sales and actual warranty expense for 2016 and 2017  were: Sales Actual Warranty Costs Incurred During Year 2016 $3,500,000 $110,000 2017 $3,900,000 $195,000 The warranty liability on the December 31, 2017 balance sheet was $0. $28,000. $138,000. $175,500. Question 4 A company borrows $100,000 from a bank, which will be repaid by monthly payments of $1,000 over the  next 10 years. Each $1,000 payment consists partly of a repayment of principal, and partly interest. Over  time, the amount of interest included in each monthly payment will decrease. stay the same. increase.   cannot tell, as the interest rate is not known.
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CourseLover
(12)
Status NEW Posted 14 Dec 2017 09:12 AM My Price 10.00

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