Answer:
Date Account title and explanation Debit Credit
March 1 Equity investment $32,000
($612,000/17%)*8% - $256,000)
Unrealized holding gain $32,000
(To adjust the value of equity investment)
Note: On 1 march, value of the investment value is increased which is unrealized based on 31 December fair value
Answer:
Probability, P(n) = 3/8
Explanation: Let standard delivery be S and express delivery be E.
I) When the parcels were sent:
S(n) = 75/100 and E(n) = 25/100
II) When the parcels arrived:
S(n)← = 80/100 and E(n)← = 95/100
The probability a record of a parcel delivery is chosen, P(n) = S(n)*E(n) + E(n)*S(n) = 75/100*25/100 + 25/100*75/100
P(n) = 3/16 + 3/16 = 6/16
∴ P(n) = 3/8
Answer:
A transaction that involves the investment of cash in a business is debited because
1) For a business to invest cash for their expansion, involves the reduction of finances in the available revenue or profit for the purchase of equipment, property and software for internal use, for which money has to be drawn, which is a form of b=debit
2) For an owner investing money into his business, is taken as an increase in the amount the business owes the owner, which is equivalent to amount owed the owner which has to be recorded as a debit for financial accounting
Explanation:
Answer:
The correct answer is letter "D": nominal damages.
Explanation:
Nominal damages are granted as monetary rewards when a legal fault takes place but there has not been substantial damage because of it. It is said that the fact of granting the fault represents more of a moral act. Usually, if awarded, the plaintiff may receive $1 or $2.
In the case, as Max suffered no loss because of Lew's delay while painting his house, if he decides to sue him he will be awarded nominal damage for the contract breach.
