Which of the following is not an element a plaintiff must establish in order to prove negligence?
A) willful wrongdoing
B) duty
C) breach of duty
D) damages
A
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Surplus Mining Company has leased a machine from Craft Machinery Company. The annual payments are $6,000 and the life of the lease is 8 years. It is estimated that the useful life of the machine is 9 years. How would Surplus Mining record the acquisition of the machine?
a. The machine would be recorded as an asset with a cost of $48,000. b. The company would not record the machine as an asset but would record rent expense of $6,000 per year. c. The machine would be recorded as an asset, at the present value of the annual cash payments, $6,000 for 8 years. d. The machine would be recorded as an asset, at the present value of the annual cash payments, $6,000 for 9 years.
What are the key questions that a strategic plan attempts to answer? How does it relate to financial plans?
What will be an ideal response?
Uptown Cleaners is being liquidated. The building has been sold for a net of $670,000 but the mortgage due is $738,000. The remaining assets were sold with net proceeds of $154,000. Administrative costs, wages and benefits, and consumer claims equal $136,000. The firm also owes $58,000 in taxes. The secured claims total $46,000 and the unsecured claims are $138,000. What percentage of their total claims will the secured creditors be paid?
A) 11.2 percent B) 8.8 percent C) 0 percent D) 41.2 percent E) 39.1 percent
Contingent cash payments are listed under the acquirers ___________ on the balance sheet.
A. Assets B. Liabilities C. Stockholders' Equity D. Other Comprehensive Income