Answer:
Yes.
The proprietor and the friend were accessories to the crime. They could have prevented it, but they did nothing. The friend even participated actively in the robbery.
Explanation:
In criminal law, an accessory to a crime refers to a person who knowingly and voluntarily participates in the commission of a crime, for example, breaking rental storage. They can be categorized as before the crime (the proprietor who sold the crossbar) or after the commission of the crime (the friend that facilitated the robbery). Accessories to a crime need not be actually present at the scene of the robbery to be held liable for this crime.
Answer:
ending balance for allowance for bad debt = 1,800
Explanation:
allowance 2,000 credit
write-off (4,200)
adjusting 4,000
ending balance 1,800
The write-off decrease the value of the allowance
The adjusting it is recognizing bad dbet, so it increase their balance.
The arrows show how Chloe's first earnings from her job as a pretzel vendor will directly benefit C and D.
The correct option is B.
<h3>What exactly is a business transaction?</h3>
An executed contract between a seller and a buyer to exchange goods, services, or financial assets in exchange for money is known as a transaction. The phrase is also frequently used in business accounting.
<h3>What does an accounting transaction mean?</h3>
Any financial business event that has an impact on a company's financial statements is referred to as a transaction in accounting. Numerous items arrear numerous items that are transactions because transactions include occurrence that has a monetary impact on one's financial records.
<h3>What sort of transaction is that?</h3>
These four types of financial transactions are:
A. sales
B. purchases,
C . receipts,
D. payments.
To know more about financial transactions visit:
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Chloe receives her first paycheck for working as a pretzel vendor. To which of the arrows does this transaction directly contribute?
A. A only
B. C and D
C. C only
D. A and B
Answer:
prenuptial agreement
Explanation:
A prenuptial agreement or prenuo is one that is created between two people before marriage. A prenuo lists all the properties owned by each individual and action to be taken as regards ownership after the marriage.
Prenuptial agreement has been used by parties that are wealthy in marriages to protect their wealth from spouses that may take advantage of them and obtain their wealth after a divorce. For example a person may say his spouse is not entitled to ownership of his property after marriage.
Answer:
$679,700
Explanation:
I believe Mickelson is the person preparing the books for Indigo Inc.
This question tests your knowledge of revaluation and its application to financial statements. It indirectly checks your knowledge of depreciation also.
A quick definition of terms would make it clearer.
Depreciation is the systematic allocation of the price of an asset over its useful life. That is once an asset (non-current) is purchased, it cannot be used up immediately in one financial year, hence accountants usually want to spread the use of the asset and match it with whatever revenue they get from the use of the asset (an application of prudence concept).
But land does not depreciate, rather it appreciates over time. Due to the fact that land appreciates over time, it would be misrepresentation on the part of Mickelson to report the value of the asset in December 2017 at the price in which the land was purchased in 2000.
Because land appreciates over time, a revaluation is more appropriate. this revaluation compares the carrying value of the land with the fair value on the land as at the date of revaluation (comparing $418,200 with $679,700) and the higher is used.
Hence to faithfully represent the current details of the status of the land, the IFRS (International Financial Reporting Standards) states that the entity should record the value of land at fair value.
I hope this is clear and easy to understand.
Other concepts you might want to check out are;
depreciation
carrying amount
revaluation surplus
fair value