Liabilities are obligations that are the responsibility of the company and can be in the forms of loans that the company needs to pay or services that the company still needs to provide (Merritt, 2016). Liabilities are broken down into two main categories, current liabilities and long term liabilities (McClure, n.d.). Current liabilities are those obligations that will come due within the next year, while long term liabilities typically come due in the future, but not within the next 12 months (McClure, n.d.). For 2013, Soda Pop Organics, Inc. reported total liabilities of $49,993 million, which included $24,941 million in current liabilities and $25,052 million in long term liabilities. Based on its current ratio of 1.08 the company has
Cans of regular soda are more dense because more sugar is added to them, the diet or no sugar sodas float because they use less fake sweetener, more grams of sugar and in regular sodas than the milligrams in diet sodas.
Current liabilities are defined as: “Debts due to be paid with cash or with goods and services within one year, or within the entity’s operating cycle if the cycle is longer than a year.” (Hongren, Harrison & Oliver, 2012) These liabilities fit into three categories: Current liabilities of known amount; current liabilities that must be estimated; and contingent liabilities. According to the matching principle of accounting, expenses and revenues need to be reported during the same period that they are earned. This can be difficult if the exact amounts are not known. This is the purpose behind estimated and contingent liabilities. In order to provide accurate financial reports companies must record revenues and
Liability- This falls directly on the owner. All debts, liabilities and losses fall on the owner. The owner's assets can be used to alleviate the business's debt.
31. Current liabilities are amounts that must be paid within a short period of time, usually less than a year. TRUE
After reviewing the Balance sheet I have a concern regarding the Current and short term liabilities. Creditors/ trade payable is payment yet to be made for goods already received, if this continues to rise then it will effect the business profit and less stock will have to be ordered so repayments can be made. Bank overdrafts also continued to rise and in the long-term the business will be paying greater interest, which will again eat into the profit. Both increased quite a great deal from the last year-end. If this continues then the business will get into bad debts and owe too much that it will end up having to sale its assets to survive. Finally I can see that due to the above issues and other issues the net current assets/ working capital has decreased so therefore the business is less value then it was a year ago. If the business is worth £1 million now, this could soon decrease within another year.
LIABILITY – The owner is held responsible for all debts and expenses accrued by the company via the concept of unlimited liability. If the expenses and debts aren’t satisfied, the owner of the business can be sued for breach of contract.
I would purchase a bottle of Jones soda after reading this article, for many reasons. First, I like the idea that Jones came up with to allow their customers to send in their photos or quotes to be featured on the bottle. I like this idea because as a customer it intrigued me and made me want to go and purchase a bottle of Jones soda. Secondly, I enjoy the curiosity that the flavours spark inside of me, I give my vote for uniqueness to Jones for that. I enjoy these surprise flavours because you cannot predict on what the taste experience for a flavour like shag-carpet will be like so you’re left dying to try it! Thirdly, I would buy a Jones soda because of their creativity to try new things. For example Coca Cola has had the same product for
A character that I didn't see in movie were Jonny and Ponyboy's parents. It didn't say much about hoe Jonny parents died in a car crash, and the movie didn't say anything about Jonny parents of how they fight. Soda Pop girlfriend or lover was also forgotten about. The movie didn't say how Soda Pop was going to marry her, how she was even in his
Johnny survived the house fire and he convinced Ponyboy to turn himself in with him. The judge showed leniency during the sentencing, because they had become somewhat of heroes. They only had to serve a probation sentence and do community outreach with troubled children. They became mentors to these kids and had a positive impact on the community. Soda Pop went on to attend the local college, transferred to a well known University, and obtained a bachelor’s degree in Science. He fell in love with a girl he met in college. They eloped and moved to California to start new life. Dally continued to work and his business flourished, because of his strong reputation and upstanding character. He also learned to forgive himself for acting cold towards
b. The fair value of a liability cannot differ from the amount appearing on the balance
According to my venture report buyer recognition's towards soda pops developed more grounded than any time in recent memory from the pesticide sullying discussion in late 2003, and the early rainstorm in mid-2004 in numerous locales of India, that at one point debilitated to crash development in 2014. Reacting to a progression of activities all through 2004, for example, diminishing pack sizes, presenting new flavors, expanding purposes of offer, situating on the present wellbeing blast and talking point of preference of changing customer inclinations, the aggregate volume of soda pops sold in 2014-15 surpassed four billion liters, enrolling a strong rate of 18%
Classify the following as long term or current liabilities: Accounts Payable, Accrued Liabilities, Note Payable with total balance due in 5 years, Mortgage Loan with payments made monthly over 5 years.
A big problem within the government is that it is corrupt and many people in power are bought by big company like phosphate mining companies. They buy these people so that they are able to get away with anything they want. The phosphate mining companies buy people in power so that they can dump their waste in public water and make money out of it. They dump fluoride in public water and say that they do this because fluoride can protect your teeth against cavities. They even have dentists to agree with them that it does even though there never been proven. Cities and towns all across the world actually dump it into the water supply, hoping to indiscriminately medicate the population through their tap water faucets. If this was true it would
Although PepsiCo’s current assets grew their current liabilities also grew, which leads me to believe that Coca-Cola is more poised to grow as a company in the future. I believe there is room for both of these companies to fix their financial status in these areas. PepsiCo needs to find a way to increase their current assets without raising their current liabilities and Coca-Cola need to find a way to increase their current assets while maintaining their steady drop in current liabilities.
In this memo, we will examine comprehensive research on some of the ethical issues that occurred as Pepsi published a commercial that harmed many people. Further, we will discuss how it had a substantial impact on a variety of stakeholders. The issue that occurred was regarding the “black lives matter” and how Pepsi did not take the issues that it still going on in our society into account.