In the context of workplace deviance, this is an example of property deviance.
Explanation:
More significant situations of deviant behaviour that affect an entity include deviation of properties. The divergence from ownership is "where workers destroy or gain tangible assets without approval."
Such variation typically involves cheating but may contain, among other things, "sabotage, malicious job mistakes, misuse of expenses records."
For example, theft, robbery, murder and assault. The secondary type of abuse includes violations of appropriate social expectations (non-codified norms) that are considered informal deviance.
Answer:
Dr Sales Discount $63
Cr Allowance for Sales Discount $63
Explanation:
Preparation of the June 30 fiscal-year-end adjusting journal entry for future sales discounts.
Based on the information given the June 30 fiscal-year-end adjusting journal entry for future sales discounts will be:
30-June
Dr Sales Discount $63
Cr Allowance for Sales Discount $63
(3%*$2,100)
(To record future sales discounts)
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Answer: $415,688
Explanation:
First find the future value of paying $1,200 every month for 360 months.
This is the future value of an annuity:
= Payment * ([1 + interest) ^ no. of periods - 1) / interest
Use periodic interest = 5.75%/ 12
30 years * 12 = 360
= 1,200 * ( ( 1 + 5.75%/12)³⁶⁰ - 1) / 5.75% / 12
= $1,149,357.14
Future value of the loan amount is:
= 280,000 * (1 + 5.75% / 12) ³⁶⁰
= $1,565,045.14
Ballon Payment = 1,565,045.14 - 1,149,357.14
= $415,688
Answer: as a current liability
Explanation:
From the question, we are given the information that Orear Manufacturing signed a contract with a supplier to buy raw materials in 2021 for $700,000 and before the December 31, 2020 balance sheet date, the market price for these materials dropped to $510,000.
The journal entry to record this situation at December 31, 2020 will result in a credit that should be reported in the current liability. It should be noted that current liabilities are the liabilities for the financial obligations for a company on a short-term basis which are normally due within a period of one year.
Examples of current liabilities are accruwed expenses, accounts payables, short-term debt, and dividends payable.
