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densk [106]
3 years ago
7

On April 1, Otisco, Incorporated paid Garcia Publishing Company $3,060 for 36-month subscriptions to several different magazines

. Otisco debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What amount should appear in the Prepaid Subscription account for Otisco, Incorporated after adjustments on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made
Business
1 answer:
Orlov [11]3 years ago
8 0

Answer:

The amount that should appear in the Prepaid Subscription account for Otisco, Incorporated after adjustments on December 31 of the first year is <u>$2,295</u>.

Explanation:

From the question, we are given the following:

Amount of 36-month subscriptions = $3,060

Therefore. we have:

Monthly subscription = Amount of 36-month subscriptions / 36 months = $3,060 / 36 = $85

Number of months from April 1 to December 31 = 9 months

First year subscription = Monthly subscription * Number of months from April 1 to December 31 = $85 * 9 = $765

Balance in the Prepaid Subscription on December 31 = Amount of 36-month subscriptions - First year subscription = $3,060 - $765 = $2,295

Therefore, the amount that should appear in the Prepaid Subscription account for Otisco, Incorporated after adjustments on December 31 of the first year is <u>$2,295</u>.

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Yakvenalex [24]

The correct option is (b) negligent hiring.

State courts have ruled that companies can be held liable for negligent hiring if they fail to do adequate background checks.

<h3>What is negligent hiring doctrine?</h3>

According to the doctrine of negligent hiring, a company is responsible for any injury its workers do to third parties if they knew or should have known that the employee posed a danger of doing so, or if a reasonable investigation would have revealed the risk.

The causes of negligence hiring are-

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An employer be concerned about negligent hiring and retention because-

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The elements of a negligent retention claim include all of the following:

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2 years ago
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Aliun [14]
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3 years ago
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Maksim231197 [3]
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3 years ago
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you need to have $32000 in 7 years. you can earn an annual interest rate of 3 percent for the first 4 years, and 3.6 percent for
katrin2010 [14]

Answer:

$22,569.48 is amount i must have to deposit today

Explanation:

FV = Future Value , PV = Present Value , r = rate of interest , n= no of period

PV = FV / (1 + r )n

PV = 32000 / (1 + 3%)^4*(1+3.6%)^3

PV= $32,000/ (1 + 0.03)^4*(1+0.036%)^3

PV= $32,000/ (1.03)^4*(1.036%)^3

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PV = $22,569.48

$22,569.48 is amount i must have to deposit today

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