Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the given data are as follows:
Net income = $110,000
Dividends paid = $60,000
Common stock owns = 15%
So, we can calculate the income for particular investment by using following method:
Income to be recognized = Dividends paid × Common stock owned
by putting the value, we get
= $60,000 × 15%
= $60,000 × 0.15
= $9,000
Hence, the income to be recognized on this investment is $9,000.
Answer:
Dr Cash $332,775
Cr Bonds payable $290,000
Cr Premium on bonds payable $42,775
Explanation:
Preparation of the journal entry to record the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017
Based on the information given the journal entry to record the issuance of these bonds will be:
Dr Cash ($290000/100*114.75) $332,775
Cr Bonds payable $290,000
Cr Premium on bonds payable ($332,775-$290,000) $42,775
(To record issuance of bonds)
Answer:
The correct option is D
Explanation:
Under the method of allowance, the uncollectible accounts receivable will be recorded in the same accounting period as the sale of an estimate of the bad debt expense. So, the collection of the account which was earlier written off, will not have any affect on the income in the period or year it is received or collected.
A(n) dr Business Continuity Plan ensures that important commercial enterprise functions continue if a catastrophic incident or catastrophe happens.
A business is described as an enterprise or enterprising entity engaged in industrial, industrial, or expert activities. companies can be for-earnings entities or non-profit agencies. business sorts a variety from limited liability businesses to sole proprietorships, agencies, and partnerships.
An enterprise reason describes the cause, or reason, that an organization becomes, to begin with based. It describes what makes a commercial enterprise precise, in addition to what the commercial enterprise plans to do. A business case isn't always an undertaking or price announcement and is a good deal shorter than each. commercial enterprise ethics refers back to the standards for morally right and wrong behavior in business. law partially defines the conduct, however “legal” and “moral” are not always the same. commercial enterprise ethics enhances the law by outlining acceptable behaviors beyond government control.
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Answer:
The contract is discharged because of True Impossibility
Explanation:
The situation in which the performing of the contract becomes impossible for a party to contract because of the change in situation which made it impossible for the party to contract to perform the contract. In such situation, the party is allowed to breach the contract.
In the given scenario, due to the death of the employee's death, the employer can breach the contract because Baldrick after death can not perform the serice (Dead people don't perform contracts). So performing of the conrtract is impossible here and Cozette is not liable for paying the rest amount of salary for the after death period.
