Answer:
Dr. Inventory Write down............(91,000 - 71,600)....$19,400
Cr. Inventory.......................................................................................$19,400
Explanation:
The write down of the inventory value from at the end of the year with a historical cost of $ 91,000 to the current replacement cost is $ 71,600 will be recorded as follows:
<u>Journal Entries</u>
Dr. Inventory Write down............(91,000 - 71,600)....$19,400
Cr. Inventory.......................................................................................$19,400
<u>Being the write down of the value of inventory from historical cost to replacement cost at year end</u>
A real estate attorney is the best person to help Cynthia prepare a lease option.
<h3>Who is the optionee in an option contract?</h3>
- The seller is the optionor and the buyer is the optionee in an option contract.
- It is a unilateral contract since the buyer has the option to purchase while the seller is required to sell.
<h3>What is an option to buy agreement?</h3>
- An option-to-purchase agreement is a contract that grants a tenant or investor the opportunity to buy real estate in the future in exchange for a fee.
<h3>What does first option to buy mean?</h3>
- When an owner intends to sell a property, this clause, also known as a right of first refusal or first right to purchase, compels the owner to provide the holder the first opportunity to purchase the property.
- The holder cannot compel the owner to sell, unlike the option to purchase.
<h3>What is purchase option?</h3>
- A purchase option is the freedom to buy, rent, or lease real estate or other property interests.
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Answer:
Dr Dividends payable ($2*42000) $84000
Cr Cash $84000
Explanation:
Initially,on July 15 2017, the necessary entries would be to debit retained earnings and credit dividends payable with $84000 to show that the company owes the shareholders dividends.
On the payment date, the entries would to debit dividends payable and to record outflow of cash used in making the dividends payment,hence cash or bank account is credited as a decrease in cash and corresponding entry posted to dividends payable.
<span>Actually one important benefit of a multiparty system over a two party system is that there will not be any single powerfull person controlling like a king or queen what ever and when ever he or she wants, without considering or taking consent of main important peoples, and also it gives more opinions and options in a multiparty system for the benefit of people.</span>
