Answer:
Primary Offense Upgrade
In the past, texting while driving in Florida was only a secondary offense. This meant that you could be issued a citation for texting while driving only if an officer had another reason to pull you over. In 2019, texting while driving was upgraded to a primary offense.
Answer:
$273,164
Explanation:
Data given in the question
Recognized amount of service revenue = $340,000
And, the account receivable balance is $66,836
So, by considering the above information, the amount of cash collected is
= Recognized amount of service revenue - the account receivable balance
= $340,000 - $66,836
= $273,164
By deducting the account receivable balance from the service revenue recognized amount we can get the cash collected amount
Answer:
The correct option is (b)
Explanation:
Under net approach of recording discount, accounts receivable is debited by the amount less discount offered for making early payment. If payment is not received within the discount period, then discount amount is credited as 'sales discount forfeited' and recorded as income in profit and loss account.
Net approach is theoretically correct as it reflects true assets, in this case accounts receivables, in the balance sheet. It means that amounts debited or credited reflects historical cost principle.
Answer:
A) Carol may be sued for the money based on promissory estoppel.
Explanation:
In contract law, promissory estoppel refers to a theory that when you make a reasonable promise but later you decide to back down, the other party may sue you in order to force you to fulfill your promise.
This theory has been upheld by the Supreme Court in Cohen v. Cowles Media Co. 501 US 663 (1991). So a reasonable promise will have the same binding effect as a contract.
<span>When a company is using double-entry accounting, the elements of a given ledger that must be equal are the debit and the credit. They should reflect the balance of the books. There should be an equal amount in the debit column and in the credit column.</span>