Answer:
d) Debit Expenses $50,000 and Claims payable $100,000; Credit Cash $150,000.
Explanation:
As for the information provided,
There was this law suit against the company from past several years. Where the lawyers already estimated that liability on the company will arise amounting $100,000.
Thus, on the provisional basis such claims of $100,000 would have been provided ideally.
Now, after final judgement the court had cleared about the claim which is $150,000.
Thus, entry to record such claim of $150,000 will be:
Expenses A/c Dr. $50,000
Claims Payable A/c Dr. $100,000
To Cash A/c $150,000
Answer:
Increasing visibility on all procurement stages. You can get access to the reports, documents, payments, workflows anytime. Data Security.
Explanation:
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Answer:
The correct answer would be, 10 Persons.
Explanation:
If there are 1000 people in the Big Bucks lottery and there is a 1 percent chance of winning 10 dollars prize if all 1000 people buy the lottery ticket of 10 dollars. If every person buys 10 dollar lottery ticket, then the chances of winning people would be calculated as follows:
Total number of People = 1000
Chances of winning the lottery = 1%
So How many people would win 10 dollar lottery = 1000 * 1%
= 1000 * 0.01
= 10 People.
So there are chances that 10 out of 1000 people will win the lottery.
Answer:
17%
Explanation:
Purchase price of bond = $921.77
Years investment held = n = 7
Coupon rate = C = 15%
Frequency of payment = m = 2
Annual coupon = $1,000 × (0.15/2) = $75.00
Realized Yield = i
Selling price of bond = PB = $961.22
The realized rate of return is approximately 16.6 percent. Using a financial calculator provided an exact yield of 16.625 percent.
Answer:
The correct answer is letter "B": A proprietorship.
Explanation:
Sole proprietorships are businesses with a single owner who is responsible for all the operations. The advantage of this type of business is that they are not strictly regulated by the government and are easy to form but the owner has full liability which implies if the business falls into debt, the personal assets of the owner can be considered to repay that debt.
