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kozerog [31]
2 years ago
5

Incapacity or death, bankruptcy, or destruction of property are examples of circumstances where agency terminates by ______.

Business
1 answer:
RoseWind [281]2 years ago
7 0

Incapacity or death, bankruptcy, or destruction of property are examples of circumstances where an agency terminates by Operation of law.

This is further explained below.

<h3>What is the Operation of law.?</h3>

Generally, A legal circumstance in which a person acquires certain rights (or occasionally duties) without having to take any action, needs the cooperation of another person, or is the subject of a judicial order.

In conclusion, Incapacity or death, financial ruin, or the loss of property are some examples of situations that might result in the termination of an agency as a result of the operation of the legislation.

Read more about the Operation of law.

brainly.com/question/9780698

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3 years ago
Molly's auto detailers maintains its records on the cash basis. During 2018, molly's collected $72,800 from customers and paid $
igor_vitrenko [27]

Accrued Net Income will be calculated as below:

Sales                                                    $72800

Less Expenses                                     $20400

Cash Income                                         $52400

Less: Depreciation                                 $4900

Add: Accounts Receivable Inc              $4500

Less: Reduction in Prepaid Exp             $1900

Add: Reduction in Acc Liab                    $1700

Accrued Income                                   $51800

Depreciation will be reduced as its an expense and all expenses will be reduced.

Increase in Accounts Recievables indicate there have been sales which have not been paid for yet, thus sales will increase and this needs to be added

Reduction in Prepaid Expenses refer to expenses being paid off earlier but now need to be recognised, thus these need to be added to expenses

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6 0
2 years ago
Sage Hill Inc. Issues $254,000, 10-year, 10% bonds at 97. Prepare the journal entry to record the sale of these bonds on March 1
Mamont248 [21]

To record final annual interest and bond repayment:

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Mar 1

Bonds interest expense       $25,400

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On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)

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Answer:

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