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3 years ago

What is not a duty the agent owes the principal?

Business

1 answer:

Likurg_2 [28]3 years ago

7 0

Answer:

superior competence

Explanation:

Superior competence is a skill an agent is expected to display in a resonable manner in any situation.

An agent is a person appointed by the principal and one who links the principal to the third party while principal is someone who appoints an agent to act on its behalf.

An agent is not superior to the principal. In other words, an agent is expected to act reseanably at all times in accordance with the terms of his contract with the principal.

Some of the duties of an agent to his principal are

- reasonable care and skill

-duty not to delegate

-avoid conflict of interest

-act within the scope of powers and authority delegated to him

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Accrued Revenues are a/an

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Revenues - Asset
Expenses - Liability

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2 years ago

What is the process of moving agricultural products from the source of production to the end consumer?

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Agricultural marketing covers the activity of getting the an agricultural product from the fom to consumers

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3 years ago

On January 1, 2017, Hi and Lois Company purchased 12% bonds having a maturity value of $300,000, for $322,744.44. The bonds prov

Feliz [49]

Answer:

a. January 1, 2017, bonds are purchased at a premium

Dr Investment in bonds 300,000

Dr Premium on bonds receivable 22,744.44

Cr Cash 322,744.44

Date Cash Interest Amortization Bond Carrying

received revenue of premium premium value

1/1/18 $36,000 $32,274.44 $3,725.56 $19,018.88 $280,981.12

1/1/19 $36,000 $31,904.89 $4,095.11 $14,923.77 $285,076.23

1/1/20 $36,000 $31,492.38 $4,507.62 $10,416.15 $289,583.85

1/1/21 $36,000 $31,041.61 $4,958.39 $5,457.76 $294,542.24

1/1/22 $36,000 $30,542.24 $5,457.76 $0 $300,000

amortization of bond premium = ($322,744.44 x 10%) - $36,000 = -$3,725.56

amortization of bond premium = ($319,018.88 x 10%) - $36,000 = -$4,095.11

amortization of bond premium = ($314,923.77 x 10%) - $36,000 = -$4,507.62

amortization of bond premium = ($310,416.15 x 10%) - $36,000 = -$4,958.39

amortization of bond premium = $10,416.15 - $4,958.39 = -$5,457.76

December 31, 2017

Dr Interest receivable 36,000

Cr Interest revenue 32,274.44

Cr Premium on bonds receivable 3,725.56

December 31, 2017

Dr Interest receivable 36,000

Cr Interest revenue 31,904.89

Cr Premium on bonds receivable 4,095.11

8 0

3 years ago

River corp's total assets at the end of last year were $390,000 and its net income was $32,750. what was its return on total ass

Feliz [49]

10.23%

return on total assets of River corp who's total assets at the end of last year were $390,000 and its net income was $32,750 was 10.23%

<h3>What was the return on total assets?</h3>

This can be found by the formula:

= Net income / Total assets x 100%

This then on substitution gives:

= 32,750 / 320,000 x 100%

= 10.23%

Hence, the return was 10.23%.

<h3>What is return on total assets?</h3>

The ratio of a company's profits before interest and taxes (EBIT) to its total net assets is called return on total assets (ROTA).

<h3>What is meant by return on asset?</h3>

The return on assets (ROA), sometimes known as the return on total assets, is a metric for gauging how much money a company makes off of its capital.
This profitability ratio illustrates the rate of growth in profits produced by an organization's assets.

<h3>What Makes a Strong ROA? </h3>

Typically, a ROA of 5% or above is seen as good; a ROA of 20% or higher is regarded as great.
In general, a corporation is more effective at making profits if its ROA is higher.
However, the ROA of any one company must be viewed in the context of its rivals in the same sector and industry.

To learn more about return on total assets visit:

brainly.com/question/14969411

$SPJ4

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2 years ago

A company's Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense

Yanka [14]

Answer:

A. $2,900.

Explanation:

Beginning balance of Office Supplies account = $600

Ending balance of Office Supplies account = $400

Supplies expense for the year = $3,100

Ending balance of Office Supplies account = Beginning balance of Office Supplies account + Purchases for the year - Supplies expense for the year

Purchases for the year = Ending balance of Office Supplies account + Supplies expense for the year - Beginning balance of Office Supplies account

Purchases for the year = 400 + 3100 - 600

Purchases for the year = 2,900

6 0

3 years ago