Answer
Obedience
Explanation:
Obedience is a behavior that is aware and aware of principles and laws. Guardians, instructors, and cops all acknowledge acquiescence. Individuals show obedience when they adhere to the law,
In the given question it is given that agent act in good faith and obey the principles direction this is a obedience fiduciary act because in this can everyone have to be obey to the principles.
Answer:
Sole proprietors and partners have unlimited liability. The unlimited liability means that if you're unable to repay the debts of the business, your creditors can go after whatever you own
Answer and Explanation:
The preparation of the retained earnings statement is presented below:
Opening retained earning balance $721,100
Add: prior period adjustment $86,370
Add: net income $1,562,700
Less: dividend paid $79,000
Ending retained earnings $2,291,170
The above items would be added and deducted that increase and decrease the retained earnings balance
Answer:
Dr Potter's 8% Bonds 100000
Cr Cash 100000
Dr Cash 4000
Cr Interest from Bonds 4000
Explanation:
Preparation of the journal entry to Complete the necessary December 31 entry to record
July, 1
Dr Potter's 8% Bonds 100000
Cr Cash 100000
(Being 8% Bonds purchased)
December, 31
Dr Cash 4000
Cr Interest from Bonds 4000
(100,000*8%*1/2)
(Being Interest received on 8% Bonds)
