Patricia is not bound to perform because the agency relationship was not disclosed. Due to the details not being disclosed about Patricia's identity, shes not bound to perform her full duties. When working on a business deal it is necessary to provide any and all details about who you are to the other person in the transaction.
Answer:
$378,000
Explanation:
Best Corp. has income before tax of $540,000.
The tax rate is 30%. the amount of tax will be 30% of $540,000.
= 30/100 x $540,000
=0.3 x 540,000
=$162,000
Tax amount = $162,000.
Net income = Income before tax - tax amount
=$540,000 - $162,000
=$378,000
Answer:
If a cheque was being issued to settle a account payable, the relevant entry is to debit the accounts payable account to show that the debt is being reduced. You will then credit the cash account to show that cash is being reduced as well because it was used to pay off the debt.
Date Account Title Debit Credit
XX-XX-XXXX Accounts Payable - Saurya Stores Rs. 39,000
Cash Rs. 39,000
Answer:
False
Explanation:
Retained earnings have no flotation costs, but have opportunity costs. For example, if companies distribute the earnings to shareholders, shareholders can invest the funds in alternative sources for returns.
