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3 years ago

The similarity between the linear and interactive communication models can be described as

1 answer:

4 0

In a linear communication model there is one way communication through a communication channel like say a news item on the internet, say. With interactive communication there is two-way communication or an exchange of ideas like in a conversation (verbal) or say via e-mail (non-verbal). The similarity between the two is that a communication channel is used of necessity in both.

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On April 1, the company retained an attorney for a flat monthly fee of $2,000. Payment for April legal services was made by the

olga55 [171]

Answer:

Journal Entries

Date Account Titles and Explanation Debit Credit

April 30 Salaries expenses $4,800

($12,000/5) * 2

Salaries payable $4,800

(To record the Accrual of salaries expense)

May 30 Salaries Expenses

($12,000/5)*3 $7,200

Salaries payable $4,800

Cash $12,000

(To record the payment of salaries expenses)

6 0

3 years ago

Gladiator USA, a tire manufacturer, guarantees its tires against defects for five years or 60,000 miles, whichever comes firs

Harrizon [31]

Answer:

DR Cash............................................$96,450

DR Notes receivable........................$546,550

CR Sales revenue...................................................$643,000

(To record sales)

DR Warranty expense .............................$32,150

CR Warranty liability.................................................$32,150

(To record Warranty Expense)

DR Warranty liability.................................$20,000

CR Cash......................................................................$20,000

(To record Warranty Claim Payments)

Explanation:

Cash = 15% * $643,000

= $96,450

Notes Receivable = 643,000 - 96,450

= $546,550

Warranty Expense = 5% x $643,000

= $32,150

7 0

3 years ago

In its statement of cash flows issued for the year ending September 30, Berne Company reported a net cash inflow from operating

Dafna1 [17]

Answer:

B. $29,000

Explanation:

The cashflow from operating activities is calculated as below:

Cashflow from operating activities = Net income + Depreciation - Working capital investment

= Net income + Depreciation - (Change in inventories + Change in account receivables - Change in account payables)

Putting all the number together, we have:

123,000 = Net income + 38,000 - [(-27,000) + 31,000 - 48,000 - 12,000),

Solve the equation we get Net income = 29,000.

5 0

3 years ago

A partial payment given in order to show intent of purchase is called what?

mel-nik [20]

A down payment is a partial payment given in order to show intent of purchase. When you intend to make a purchase of an item but do not have the means to pay in full or if a full upfront payment is not required, a down payment may be. A down payment can be a set amount or percentage that is agreed upon by the purchaser and the seller for the intent to purchase the item in full. In most cases, there is a contract outlining the partial down payment and then when everything is due in full.

6 0

3 years ago

Internal Controls for Bank Lending

julsineya [31]

Answer:

1. False

The higher the figure, the higher the risk. Kindly note that loans are usually insured against default. The higher the amount insured, the higher the premium payable as insurance on such amounts.

2. False

It does not make for good internal control to have one person regardless of their position to have the final say on loans of great magnitude such as $5 Million. This can quickly degenerate into a situation where the officer involved is tempted to abuse that power. It makes for good corporate governance and risk management to ensure that the board is responsible for loans of such magnitude.

3. True

If a bank lost $100 in a thousand places, from loan default, that translates to a loss of $100,000. This relatively is large however it is small and will have less impact that a loss of a million dollars in 3 places. That's $ 3,000,000.

As already indicated, it makes for good loan disbursement governance, to ensure that there is at least two persons involved in the risk acceptance criteria (RAC) evaluation and loan disbursement process.

4. False

Separation of duties is the foundation of good internal control. It allows for greater objectivity. It is also key to carefully select signatories to loan disbursements. They have to be people of impeccable character and the company must exercise proper risk management to ensure that every protocol such as opportunity that may create the impulse or inclination to breach policy is removed completely.

Cheers!

5 0

3 years ago