<h2>
Cost of goods sold of Baxter's Company = 3,06,000</h2>
Explanation:
Cost of goods sold = +Purchase + Direct Exp+ Opening Inventory - Closing Stock
85,000 + 3,23,000 - 1,02,000 = 3,06,000
Answer:
C) Hire a litigator who will agree to a contingent fee structure and require payment only if Marcos obtains a settlement or jury verdict.
Explanation:
Generally when lawyers agree to a contingent fee structure is because they are convinced their chances of winning are high. Lawyers will accept a fixed percentage of the amount recovered, usually this percentage is around 1/3 of the final settlement.
This type of agreement is very useful since you don't need to invest a lot of money, and the lawyer's pay comes from the money awarded by the jury (or a settlement).
Answer:
North Star
Adjusting Journal Entries:
December 31:
Rent Expense $1,280
Prepaid Rent $1,280
To accrue rent for the period.
Depreciation Expense $1,080
Accumulated Depreciation $1,080
To accrue Depreciation charge for the year.
Utilities Expense $9,800
Utilities Payable $9,800
To accrue unpaid utilities.
Income Tax Expense $470
Income Tax Payable $470
To accrue income tax liability.
Explanation:
Adjusting entries are journal entries that are made at the end of an accounting period to ensure that all expenses and incomes pertaining to the period are recognized in accordance with the accrual concept and the matching principle. These accounting concepts require that all expenses incurred whether paid for or not and income whether received or not, which relate to the period, are matched respectively.
D. leniency is based on when somebody rates an employee too high. Strictness error is when somebody was rated very very low.
