Answer: C) The agreement does not violate antitrust laws.
Explanation:
Anti-trust laws in the United States are laws enacted at both federal and state level with the aim of protecting consumers by ensuring fair competition amongst firms. As such, these laws target things such as monopolies, price fixing and market allocation.
The sales associates are currently engaging in market allocation. However, this does not violate anti-trust laws because they work for the same firm and will be offering the same services and prices to people in either area and it is still the same firm covering both areas.
Answer: 42 days
Explanation:
To solve the above question, first, we will have to calculate the debtors turnover ratio which is the date sales uncollected for the year. This will be:
= Sales/Average Accounts Receivables
= $612,000 / $70,422
= 8.69 times
Since we are using 365 days for a year, then the firm's days sales uncollected for the year will be calculated as:
= 365 / 8.69
= 42 days
It is the standard (IRS) form that individuals use to file their annual income tax returns
Answer:
Aug 01
Dr Cash 11,000
Dr Photography equipment 47,300
Cr Common stock 58,300
Aug 02
Dr Prepaid insurance 3,800
Cr Cash 3,800
Aug 05
Dr Office supplies 2,090
Cr Cash 2,090
Aug 20
Dr Cash $2,950
Cr Photography fees earned $2,950
Aug 31
Dr Utilities expense $878
Cr Cash $878
Explanation:
Preparation of the general journal entries
Aug 01
Dr Cash 11,000
Dr Photography equipment 47,300
Cr Common stock 58,300
(47,300+11,000)
Aug 02
Dr Prepaid insurance 3,800
Cr Cash 3,800
Aug 05
Dr Office supplies 2,090
Cr Cash 2,090
Aug 20
Dr Cash $2,950
Cr Photography fees earned $2,950
Aug 31
Dr Utilities expense $878
Cr Cash $878
Answer:
According to the provisions of the <u>Dodd-Frank Act</u>, publically listed companies now must allow shareholders to vote on executive compensation.
Explanation:
In the aftermath of the financial crises of 2008, shareholders of public companies were given the right to vote or in short have their say on executive compensation matters or rules framed by the directors.
The said rule conferred a right on the shareholders to vote once in three years on executive compensation so as to keep excessive compensation to executives in check.
The companies in such a scenario ain't bound by such votes but such a right to shareholders represents their outlook on the decisions made by the Board.