An individual who has been appointed by another person to act on their behalf and in their best interest is known as an agent.
In legal terminology, an agent is a person who has been empowered legally to act on the behalf of another person. An agent may be employed to represent a client in dealings and negotiations with third parties. Depending on the situation, the agent may be granted decision-making authority.
The agent is given the authority to take necessary action on someone else's behalf. People usually hire agents to conduct matters that they lack expertise or time to do for themselves.
You can leanr more about Agent at
brainly.com/question/7284696
#SPJ4
Answer:
Partners Dennis and Lilly have decided to liquidate their business. The following information is available:
Cash $100,000 Accounts Payable $100,000
Inventory $200,000 Dennis, Capital $120,000
Lilly, Capital $80,000
$300,000 $300,000
Dennis and Lilly share profits and losses in a 3:2 ratio. During the first month of liquidation, half the inventory is sold for $60,000, and $60,000 of the accounts payable is paid. During the second month, the rest of the inventory is sold for $45,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.
1. Using a safe payments schedule, how much cash will be distributed to Dennis at the end of the first month?
a. $36,000
b. $64,000
c. $60,000
d. $24,000
2. Using a safe payments schedule, how much cash will be distributed to Lilly at the end of the first month?
a. $40,000
b. $24,000
c. $64,000
d. $16,000
Answer:
5.79 times
Explanation:
The computation of the Accounts receivable turnover ratio
= Credit sales ÷ average accounts receivable
where,
Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2
= ($46,400 + $49,700) ÷ 2
= $48,050
And, the net credit sale is $278,000
Now put these values to the above formula
So, the answer would be equal to
= $278,000 ÷ $48,050
= 5.79 times
In my opinion, venturing into world of Arts could be a favorable path for a person highly interested in solitary, introverted work. Visual arts such as painting and photography (nature, macro-shoots, etc) could be better choices. Literature might interest you too. The art of words would allow you to express yourself without talking to animate objects. One could pick a pen or stare at his or her computer when indulging oneself in the ARTS.
You do not have to impress others, your masterpiece could do the talking for you.
Hope this helps. Have a nice day!
Budget reports are generally prepared for a quarter.
Given an incomplete sentence related to the timings of budget reports.
We are required to fill the timing or frequencies given in the options so that the sentence gives an appropriate meaning.
A budgeting report is basically a report managers use that lists the previously estimated budget projections over a certain period.Budget reports are basically the financial goals leadership comes up with based on informed financial projections. Since they are typically estimations, these budget reports almost always differ from the final financial results, sometimes drastically. Quarter is basically a collection of three months.
Hence it can be concluded that budget reports are generally prepared for a quarter.
Learn more about budget at brainly.com/question/13964173
#SPJ4
