Answer:
The answers are : unauthorized, identified, facts, affirm, authorization, withdraws, observe.
Explanation:
Ratification occurs when the principal accepts responsibility for the agent's unauthorized acts. For ratification to be valid, the agent must have acted on behalf of an identified principal, that principal must know all of the material facts , must affirm the agent's act in its entirety, and must have the legal authorization to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party withdraws from the transaction, and the principal must observe the same formalities when ratifying the act as would have been required to authorize it initially.
Answer:
$26.50
Explanation:
The computation of the current value of the common stock is shown below:
Current price is
= Current year dividend ÷ (Required rate of return - Growth rate)
where
Current year dividend is $1.59
The Required rate of return is 12%
ANd, the growth rate is 6%
Now place these values to the above formula
So, the current price of the common stock is
= ($1.50 × 1.06) ÷ (0.12 - 0.06)
= $1.59 ÷ 0.06
= $26.50
Answer:
Explanation:
First of all, to make it easy, "Debit" will be written as "Dr" and "Credit" as "Cr"
General journal
April 2
Dr Cash $27 070
Dr Equipment $12 900
Cr Owner's Capital $39 970
April 2 No transaction has occurred
April 3
Dr Supplies $833
Cr Accounts Payable $833
April 7
Dr Rent Expense $546
Cr Cash $546
April 11
Dr Accounts Receivable $1160
Cr Revenue $1160
April 12
Dr Cash $2,589
Cr Unearned Revenue $2,589
April 17
Dr Cash $2,201
Cr Revenue $2,201
April 21
Dr Insurance Expense $100.30
Cr Cash $100.30
April 30
Dr Salaries Expense $1,020
Cr Cash $1,020
April 30
Dr Supplies Expense $122
Cr Supplies $122
April 30
Dr Equipment $5,266
Cr Capital $5,266
Answer:
Given that,
Jobs still in process = $20,000
Jobs completed but not sold = $60,000
Jobs finished and sold = $120,000
Marshall Enterprise's Factory Overhead account has a credit balance of $5,000
Therefore, the journal entry is as follows:
Factory overhead A/c Dr. $5,000
To Cost of goods sold A/c $5,000
(To record the cost of goods sold)
Answer:
Experiencing declining production capacity because net investment is negative.
Explanation:
Monetary value of all goods and services produced in the country are known as Gross Domestic Products. The economy is said to be inclining if the value of GDP rises. The value of GDP is directly associated with increasing production.
