Answer:
In this case, a trial court would probably enforce the contract because although the statute of Frauds requires contracts for longer than one year to be willing to be enforceable, since it is possible that Gray may die within the year coupled with the showing by Damon of none months payments, the contract is enforceable. As a result, the Statute of Frauds would be enforceable because the oral contract was possible to fulfill within the one-year .
Walking into something that is right in front of you and smashing your fingers and toes
Answer: corporate communications
Explanation: Corporate communications relate to how businesses and organizations interact with specific stakeholders, both internally and externally. These stakeholders include,. customers, media, employees and government etc.
Based on the group being discussed, corporate communications may come in many forms. In conclusion, the communication strategy for a company would generally consist of the printed word, verbal word, and un-spoken interaction.
The communication department of an organisation is responsible for a number of duchies to be performed such as public relations and customer marketing etc.
Answer:
Debit cash and credit a <u>liability</u> account
Q:
<em>Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?</em>
Explanation:
The company will dbeit the cash, as it is receiving it and cash is an asset account that increase from debit.
<em>As the company receives the amount in advance, it assumes the obligation to perform in the future. </em>This is the concept of a liability.
To be a revenue, it is required that the services or sale is performed. As the payment is before the sale or service it is not earned.
Answer:
1) Warranty expense = $550
2) Warranty liability = $550
3) Warranty liability = $435
Explanation:
As per the data given in the question,
1.) Warranty expense = 5% of dollar sales
= 5% × $11,000
= $550
2.) On year end Dec-31st balance of liability will be same as expense incurred as there is no repair in year 1.
So, Estimated Warranty liability = Warranty expense
Estimated Warranty liability = $550
3.) Beginning balance = $550
Repair cost = $115
End balance of year = Beginning balance - Repair cost
= $550 - $115
warranty liability = $435