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masha68 [24]
2 years ago
14

The types of quasi-contractual terms with which employees view what they owe their employer and what their employer owes them ar

e referred to as:_____.
Business
1 answer:
yuradex [85]2 years ago
5 0

The types of quasi-contractual terms with which employees view what they owe their employer and what their employer owes them are referred to as Contractual agreement.

What is Quasi-contract terms?

  • When there is a dispute between the parties and there was no initial agreement between them, the court may construct an out-of-order contract. This contract has the obligation to prevent one party from unfairly benefiting at the expense of the other parties. This circumstance is known as a quasi-contract.
  • A retroactive agreement between two parties with no prior contractual responsibilities is known as a quasi contract.
  • A court enacts it to address a situation where one party gains something at the expense of the other.
  • A retroactive agreement between two parties with no prior contractual responsibilities is known as a quasi contract. A court enacts it to address a situation where one party gains something at the expense of the other.

To know more about Quasi-contract visit:

brainly.com/question/27993061

#SPJ4

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At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b
meriva

Answer:

$6,540

Explanation:

Given:

accounts receivable of $238,000

allowance for uncollectable accounts of $600 (credit)

Also, the allowance for uncollectible accounts should be 3% of accounts receivable.

Therefore the amount of the adjustment for uncollectible accounts would be

= 3% of $238,000 - $600= $(7140-600)= $6,540

4 0
3 years ago
At the beginning of July, CD City has a balance in inventory of $2,450. The following transactions occur during the month of Jul
denpristay [2]

Answer:

CD City

a. Journal Entries, using perpetual inventory system:

July 3:

Debit Inventory $1,350

Credit Accounts Payable (Wholesale Music) $1,350

To record purchase of CDs on account, terms, 2/10, n/30.

July 4:

Debit Freight-in $110

Credit Cash $110

To record cash payment for freight.

July 9:

Debit Accounts Payable (Wholesale Music) $200

Credit Inventory $200

To record return of CDs.

July 11:

Debit Accounts Payable (Wholesale Music) $1,150

Credit Cash Discount $23

Credit Cash $1,127

To record full settlement on account.

July 12:

Debit Accounts Receivable $3,900

Credit Sales $3,900

To record sales of CDs on account.

Debit Cost of Goods Sold $2,050

Credit Inventory $2,050

To record the cost of sales.

July 15:

Debit Cash $3,900

Credit Accounts Receivable $3,900

To record cash receipt from customers.

July 18:

Debit Inventory $2,150

Credit Accounts Payable (Music Supply) $2,150

To record purchase of CDs on account, terms, 2/10, n/30.

July 22:

Debit Cash $3,250

Credit Sales $3,250

To record cash sales.

Debit Cost of Goods Sold $1,550

Credit Inventory $1,550

To record cost of sales.

July 28:

Debit Accounts Payable (Music Supply) $110

Credit Inventory $110

To record return of CDs.

July 30:

Debit Accounts Payable (Music Supply) $2,040

Credit Cash $2,040

To record full settlement.

b. Top Section of Multiple-step Income Statement for the month of July:

Sales                              $7,150

Cost of Goods Sold = ($3,600)

Gross Profit             = $3,550

Explanation:

a) Sales

July 12 =  $3,900

July 22 = $3,250

Total $7,150

b) Inventory

Beginning Balance = $2,450

July 3 purchase    =      1,350

July 9 return         =       -200

July 12 cost of sales  -2,050

July 18 purchase   =     2,150

July 22 cost of sales  -1,550

July 28 return       =        -110

Ending Balance    =  $2,040

c) Cost of Goods Sold

July 12 cost of sales  $2,050

July 22 cost of sales    1,550

Total  $3,600

8 0
3 years ago
What is the profit maximization rule equation?
ValentinkaMS [17]

Answer:

mc=mr

Explanation:

This is because in economics, the profit maximization rule is represented as MC = MR, where MC stands for marginal costs, and MR stands for marginal revenue. Companies are best able to maximize their profits when marginal costs -- the change in costs caused by making a new item are equal to marginal revenues............................

6 0
3 years ago
Discuss reasons why a business needs funding ?
castortr0y [4]

Answer:

Firms need finance to:

start up a business, eg pay for premises, new equipment and advertising.

run the business, eg having enough cash to pay staff wages and suppliers on time.

expand the business, eg having funds to pay for a new branch in a different city or country.

3 0
2 years ago
The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production
Illusion [34]

Answer:

See below

Explanation:

The computation of carrying value on the balance sheet of the ending inventory of finished goods under variable costing is seen below;

Before that, we have to determine the unit cost

Unit fixed manufacturing overhead = $120,400 ÷ 6,020 units = $20

Then, the difference will be;

= Unit fixed manufacturing overhead × change in inventory in units

= $20 × (6,020 units - $5,920)

= $20 × 100 units

= $2,000 less than absorption costing

7 0
3 years ago
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