Nate works as a sales representative. His employment contract specifies that he cannot work for a competitor for a period of two years from employment. This is an example of ambiguity.
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What is ambiguity in employment contract?</h3>
Ambiguity is used to explain a condition that is not permanent in a Job but that remain relevant within the period given.
It is to the disadvantage of the employer because if they term is bridged it may affect the business or company through leaking of vital company information.
Therefore,
Nate works as a sales representative. His employment contract specifies that he cannot work for a competitor for a period of two years from employment. This is an example of ambiguity
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Answer:
a. Capitalized : Equipment
b. Expensed
c. Capitalized : Building
d. Expensed
e. Capitalized : Equipment
f. Capitalized : Building
g. Capitalized : Building
h. Capitalized : Equipment
Explanation:
The Cost of Property, Plant and Equipment item according to IAS 16 includes, the Purchase Cost and any cost directly incurred in putting the assets in location and condition intended for use by management.
The costs exclude amounts collected in tax on behalf of third parties
Also not Capital expenditures increase the earning ability of the asset whilst revenue expenditure is the maintenance of such asset.
Answer:
The answer is D. $1,192,000 net cash inflow
Explanation:
For financing activities under cash flow, inflows are what is coming in like issuance of bond, obtaining loan from bank. This money is coming into the business for investments and outflows are what is going out of the business e.g paying dividend to shareholders.
The inflows here are:
The issuance of 20,000 shares of $1 par common stock for $40 per share which is $800,000(20,000 shares x $40 per share) and also the long-term notes payable of $440,000
Therefore total inflows are $800,000 + $440,000
=$1,240,000
There is only one outflow which is the dividends of $48,000
So what will be reported under cash flows from financing activities is
$1,240,000 - $48,000
= $1,192,000
Answer: I)Accrued ReVenue /Service Revenue.
2.-Prepaid Expenses/ Insurance Expenses
3.No Entry
4.Prepaid expenses /depreciation expense
5.Accrued Interest payable/Interest Expenses
6.Accrued expenses/ Interest expenses.
7.Unearned expenses/ Service Revenue
Explanation:The type of adjusting entry/ the related account in the adjusting entry is given below
a)For Accounts Receivable---Accrued ReVenue /Service Revenue.
(b) For Prepaid Insurance---Prepaid Expenses/ Insurance Expenses
(c) Equipment ---- Equipment Exoenses. Equipment is a long-term asset that will not last so the cost of equipment is recorded in the account Equipment. No entry is needed in this account.
(d) For Accumulated Depreciation Equipment-----Prepaid expenses /depreciation expense
e) Notes Payable : Accrued Interest payable/ Interest Expenses
(f) Interest Payable--- Accrued expenses/ Interest expenses
(g) Unearned Service Revenue--Unearned expenses/ Service Revenue
Answer:
The answer Is below
Explanation:
The households sector is a sector that consists of people such as consumers or end-users and entrepreneurs that are not into a corporation
Also, this sector has producers and consumers because consumers are the individuals that consume the goods and services produced.
Similarly, there are producers in the household sectors as some individuals produce goods and services for themselves and their immediate environment without going into a corporation. For example, Street food vendors, Cobblers, carpenters, and many more.