Answer and Explanation:
The adjusting entries are shown below:
1. Depreciation expense Dr $800
To Accumulated depreciation - equipment $800
(Being depreciation expense is recorded)
For recording this we debited the depreciation expense as it increased the expenses and reduced the assets so accumulated depreciation is credited
2. Supplies expense Dr $660 ($768 - $108)
To Supplies $660
(Being the supplies expense is recorded)
For recording this we debited the supplies expense as it increased the expenses and reduced the assets so supplies is credited
3. Rent expense Dr $934 ($1,180 - $246)
To prepaid rent $934
(Being the rent expense is recorded)
For recording this we debited the rent expense as it increased the expenses and reduced the assets so prepaid rent is credited
Answer:
Monthly payment is $488.26
Explanation:
Loan amount: $20,000
Loan tenor: 4 years
Lending rate: 8% per year then monthly rate is 0.6667% per month
Interest occurred: monthly compounding
Payment: monthly
Number of payments: 48 (= 4 years * 12 months)
We can use formula in excel to calculate the payment =PMT(rate,number of payment,loan amount) = PMT(0.6667%,48,20000) = $488.26
I attached the calculation & checking in excel for your reference
Shareholders of public companies need to appoint a board of directors to represent their interests because of the separation of ownership and control.
Today's board members are supposed to reflect a variety of independent viewpoints. Strategic monitoring and planning are the major responsibilities of a board of directors. Even though these phrases are frequently used, it's crucial to remember that these tasks constitute the foundation of effective company planning.
A board of directors serves much more than just as the organization's public face. When selecting new board members to fill open positions, boards often seek for specific traits. Board members anticipate that their other directors will be open to challenging and in-depth questioning that seek to examine all sides of an issue. Board members must be thoroughly informed about any significant issues that have an impact on the company. Because risks are multiplying and getting more complicated, identifying risks has become an essential component of the board job.
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Answer:
A. Since Jack had apparent authority, Andrea is liable to honor his contract with Harold.
Explanation:
The Contract defines that when two or more persons bound for a purpose legally.
Contract = Agreement + enforceble
Here as per the given situation Andrea hired Jack as the sales representative for her portraits. She suspended the organisation with Jack though, in a month's time.
Harold, a client who had previously worked with Jack, was not informed of the closure. Harold contacted Jack to purchase a painting, and gave him a $5,000 check, the painting advance payment that Jack agreed would be shipped in two weeks.
As Jack later failed to reach Harold, Harold requested that Andrea uphold the deal, as Jack sold the picture as her agent
Andrea is liable to uphold his deal with Harold, as Jack had obvious authority.
