Liability to Desean for non performance of the contract may be imposed on BERRY AND CUISINE CATERING.
Berry is required by the law to perform the duties in the contract agreement, failure to do this will creates liability for Berry and in that case, both Berry and Cuisine catering will be liable, because Berry had said that she is working on behalf of Cusine catering, thus, Cusine catering is already a part of the contract.
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Answer:
b) Larceny at the point of sale
Explanation:
Larceny at the point of sale -
It is a type of fraud , where the employee itself steal money from the employer during the point in the business , when is the sale is been made .
This type of fraud is very commonly seen in the retail business .
Same case is shown in the question data , where Jan Ashley , who works for the R & S departmental store , tries to steal money during the sale .
Answer:
The answer is : C. Investment overstated; retained earnings overstated
Explanation:
Under the equity method of accounting, Fey Corporation should record the correct entry as below:
Dr Equity Investment 16,800
Cr Equity Income 16,800
Dr Cash 5,400
Cr Equity Investment 5,400
As a result, Investment account has been overstated by $5,400 while Dividend Revenue account has been overstated by $5,400. The overstating in Dividend Revenue will subsequently result to the overstating in Retained Earnings account through closing entry.
So, C. Investment overstated; retained earnings overstated is the correct answer.
