Answer:
D. All of the above
Explanation:
Stockholder equity is also known as shareholders' equity. The shareholder's equity is composed of their capital contribution plus the retained earnings. In the balance sheet, the value of shareholder equity equals assets minus liabilities.
Stockholder equity is the amount that shareholders will receive if the assets of a company are to be liquidated after liabilities have been settled. It is the shareholder interest in the company.
Answer:
The journal entry to record direct labor for Department A and Department B would include None of these choices are correct.- d.
Answer:
Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE
Explanation:
What is Partnership
Partnership is a form of business, where individuals come together to carry on business with the primary intention of making profit. Mostly, they come together by contributing capital and expertise to make the business work . Every partner is however liable and responsible for both the profit made and the losses or liabilities of the partnership.
Although the general partner has unlimited liability, every partner is however jointly and severely liable for the business
Were Summemour and Hatcher Liable?
This case is referred in the J.T. Turner Construction Company v. Summerour and Hatcher(2009). The court this case declared that both Hatcher and Summemour were jointly and severally liable as a result of the following reasons.
A partner becomes liable especially for a prior judgment based on the following
1. The partnership has proven indebtedness
2. A general partner in the partnership was sued to court
Based on these, Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE
Answer:
He is acting as a sub-agent. The sub-agent, just like the representative of the buyer, is an agent and owes a duty to care and act as an agent for the buyer representive.
