Answer:
Explanation:
The partnership agreement is silent about the payment of salaries and the division of profits and losses.
Profits should be divided based on capital invested by each
The capital investment by Gillie, Taft and Dall is 60000 : 120000 : 60000 Distribution has to be in ratio of 1:2:1
Total profits are 120,000, 1:2:1 ratio
The distribution will be Gillie $30,000, Taft $60,000 and Dall $30,000.
Answer:
False
Explanation:
The climate of the organization refers to the work environment that is perceived by the employees. A positive environment improves employee satisfaction and because of that managers try to maintain this. They can asses the climate in their work groups and make changes in management practices that can affect the working climate. Because of that, the statement that says that the actions of associates in supporting diversity are more important than the actions of managers because associates establish the working climate of the organization is false because the managers as the leaders can improve or not the climate of the organization with their decisions.
Answer:
The correct answer is B
Explanation:
Bank reserve is the minimum cash which is required to kept on hand through the financial institutions so that could meet the requirements of central bank.
Checkable deposits is a kind of any demand deposit account in anticipation of the checks or the drafts in any form which will be written. In short, it means that the owner of the account could withdraw funds on demand.
So, if the primary decrease in bank reserve will also decrease the checkable deposit as there would be no cash with bank to provide to customers by the amount that is greater than the decrease in the reserve.
Answer:
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Explanation:
Answer:
Cash is credited for $89
Supplies Expense is debited for $40
Delivery Expense is debited for $49.
Explanation:
The journal entry is shown below:
Delivery expenses $49
Supplies expenses $49
To Cash $89
(Being the replenish of the account is recorded)
While recording this journal entry we debited the delivery expenses, supplies expenses and credited the cash account so that the proper posting could be done
