Answer:
Date Account titles & Explanation Debit Credit
Apr-05 Merchandise Inventory $23,000
Accounts Payable $23,000
Apr-06 Merchandise Inventory $900
Cash $900
Apr-07 Equipment $26,000
Accounts Payable $26,000
Apr-08 Accounts Payable $3,000
Merchandise Inventory $3,000
Apr-15 Accounts Payable $20,000
($23,000-$20,000)
Merchandise Inventory $400
($20,000*2%)
Cash $19.600
Answer:
The court ruled against both Americar and Regency Inn, and then Regency Inn won its case against Americar. The nuisance case itself is pretty unpleasant, so it's not worth referring to it.
The fundamentals for the ruling against Americar were that they themselves had drafted the lease agreement and that the clause included in the lease agreement by which they agreed to indemnify Regency Inn was valid. The original lease term had already expired, but Americar continued to lease the offices on a monthly basis. Since they never left the place, the clauses in the original agreement were still valid even though the lease changed to a monthly basis. I.e. if you sign a lease contract and after the original contract is over, you continue to lease the same place, then the clauses from the original contract still apply.
The clause stated that Americar was liable for damages that took place on the leased premises or in their proximity, i.e. the area near their offices. The parking lot was considered to be in the proximity of Americar's offices.
Answer:
Total Asset Turnover: 2.2857
Explanation:
<u>Total Assets</u>
Begininng Balance 2,450,000
Ending Balance 2,800,000
Period activity 350,000
<u>Sales:</u> 6,000,000
<em><u>Total Asset Turnover</u></em>: <u> </u><em><u> Sales </u></em>
<em> Average Total Assets</em>
<u> 6,000,000 </u>
( 2,450,000 + 2,800,000 ) / 2
=
<u>6,000,000</u>
2,625,000
=
<u>2.2857</u>
Peer pressure is the notion of mutual friends coxing you into a rash situation and you, in a attempt to fit in, you agree to such a situation. This is bad and it’s practically impossible to avoid unless you care not for those opinions of those you hang around
Have a peer pressure filled day (jk btw lol)
Answer:
Revenues, expenses, income summary, dividend or withdraws account
Explanation:
The closing entries for the following accounts are presented below:
1. Service Revenue A/c Dr XXXXX
To Income Summary XXXXX
(Being revenue account closed)
2. Income summary A/c Dr XXXXX
To Expense A/c XXXXX
(Being expenses accounts are closed)
3. Income summary A/c Dr XXXXX
To Retained earning XXXXX
(Being the difference is credited to retained earning that reflected as a profit)
4. Retained earnings A/c Dr XXXXX
To Dividend A/c XXXXX
(Being dividend account is closed)
