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Fed [463]
3 years ago
6

Grouper Inc. is involved in a lawsuit at December 31, 2020. Prepare the December 31 entry assuming it is probable that Grouper w

ill be liable for $863,600 as a result of this suit. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
goldenfox [79]3 years ago
8 0

Answer:

Grouper Inc. is involved in a lawsuit at December 31, 2020

It is given that Grouper will be liable for $863,600 as a result of this suit. Therefore, the journal entry for this situation is as follows;

On December 31, 2020

Lawsuit loss  A/c  Dr. $863,600

       To Lawsuit liability               $863,600

(To record the lawsuit loss of the Grouper Inc.)

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 The impact of eliminating the backpack division

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Decrease in contribution margin      $480,500   ($950500-$470,000)

<u>Decrease in Expenses:</u>

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Any comparison of the advantages of one family structure over another depends partly on the parents and partly on the:
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The comparison will depend partly on the parents and partly on the CULTURE IN WHICH THE FAMILY LIVES. A child economic and social well being depends on a number of diverse factors, one of these is family structure. When comparing the economic wellness of children from different family structure, the culture in which the families live is also a significant factor which must also be considered.
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What is the impact of Corona virus as one of the socio economic issues on businesses​
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The CO.VID-19 pandemic produced a wide variety of types of effects worldwide, especially from spring 2020. Many people got sick and died from CO.VID-19. The fear that they themselves or people for whom they feel responsible would share this fate seized the population, scientists and politicians worldwide. There was a need for action from the development of the number of newly infected and deceased, from the economic crisis 2020/21, from a problematic development of social structures, from psychological stress on the Individuals and from further effects. In addition to concerns about people's lives and health and the resilience of the economy, there was also concern that the population could be deprived of basic rights for longer than justified by the pandemic.

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3 years ago
Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and the Double-entr
olga_2 [115]

Answer:

A MS Excel file is attached for the Journal general , please find it.

Explanation:

Entries to be Journalized

Date                Account                    DR.          Cr.

March 24         Cash                   $26,000    

                        Owner's Capital                  $26,000

September 8   Cash                   $6,500    

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Download xlsx
6 0
3 years ago
Lorenzo and Lila own all of the Double L Corporation's stock. The stock of this corporation is not sold to the general public. L
ladessa [460]

Owners of the company.

<h3>What is a stock of a company?</h3>
  • A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company.
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<h3>What is an owner of a company?</h3>
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Therefore, Lorenzo and Lila are owners of the Double L Corporation.

Know more about stocks here:

brainly.com/question/1957305

#SPJ4

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