Answer:
Dr Equipment 62400
Dr Prepaid Insurance 500
Cr Cash 2900
Cr Accounts Payable 60,000
Explanation:
Preparation of the journal entry to Record the above expenditures for the new machine.
Dr Equipment 62400
Dr Prepaid Insurance 500
Cr Cash 2900
Cr Accounts Payable 60,000
(62,400+500-2900)
Equipment:
Purchase price ($55,000) + Sales tax (5,000) + Shipping (800) + Installation (1,600) =
Total cost 62400
Cash:
Shipment of machine (800) + Insurance on the machine ((500)) +Installation of the machine (1,600) = 2900
Answer:
The correct answer is D. Choices that are the best for more than one person are said to be in the social interest.
Explanation:
The social interest is a concept sufficiently clarified in Company Law. The Capital Companies Law refers to it in terms of challenging social agreements: if an agreement is not in accordance with the corporate interest, it can be challenged. It is only negatively contested, that is, if the plaintiff can argue that the agreement is contrary to the social interest, so that it is not a validity requirement that the agreement be in accordance with the social interest. Likewise, if the administrators act against the social interest when they exercise their discretionary powers, they incur responsibility for violation of their duty of loyalty.
The correct answer to this open question is the following.
Although the question is incomplete because it does not attach the model to answer it we can comment on the following.
The problem is that Jamal, trying to increase profits, decided to sell two different products that are not part of the Subway products. When the franchisor visited Jamal's location, it realized the changes and set an ultimatum to Jamal to respect the franchise agreement.
The cause of the problem is that although Jamal wanted to diversify the products to have more income, this contradicts and is against the franchise agreement he signed when he bought the Subway franchise. The contract clearly states that the owner of the franchise can only sell products authorized in the contract by Subway. That is exactly one of the characteristics of a franchise. That you visit one of them any place in the world, and you are going to find de the same products with the same quality. That is the product guarantee of a franchise like Subway.
So the effects for the company are that its reputation an image can be questioned for selling different products that are hot approved by Subway. It is a major risk the company is not going to allow. Furthermore, it is stated in the contract. So Jamal has no right to break it.
One possible solution is that Jamal respects those 30 days to make the proper corrections, follow the guidelines established in the Subway's manuals, offer a sincere apology, and commit himself to operate the franchise just as it is stated on the agreement.
Entrepreneurs are people that make their own business. Most businesses tend to have a rough start and can possibly even fail. It depends on how the person creating the business acts and how determined they are to make the business flourish. Although many rich people may of started off of just one product that got advertised well and was sold quickly. Even if it isn't a product but more so a service, you can be very successful. Just know what the people want.
Hope this helped!
Answer:
assets on the balance sheet.
Explanation:
Reserves are percentages of deposits that are required for depository institutions to keep to meet unforeseen contingency. they are usually kept in bank vaults
they are assets and they cannot be lent out
